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CHVC: REVOKED
ORDER MAKING FINDINGS
AND REVOKING
REGISTRATION BY
DEFAULT AS TO CHINA
VOICE HOLDING CORP.
http://www.sec.gov/litigation/admin/2013/34-68893.pdf
CHVC News ENFORCEMENT PROCEEDINGS Commission Revokes Registration of Securities of Crestek, Inc. for Failure to Make Required Periodic Filings.
Thu, Jan, 2013 at 5:42 PM
From
StockAlerts@scottrade.com
This email is compliments of Scottrade.com
News for 'CHVC' - (ENFORCEMENT PROCEEDINGS - Commission Revokes Registration of Securities of Crestek, Inc. for Failure to Make Required Periodic Filings)
http://www.otcmarkets.com/stock/CHVC/news
Jan 03, 2013 (SECURITIES AND EXCHANGE COMMISSION RELEASE/ContentWorks via
COMTEX) -- On January 3, 2013, the Commission revoked the registration of each
class of registered securities of Crestek, Inc. (Crestek) for failure to make
required periodic filings with the Commission.
Without admitting or denying the findings in the Order, except as to
jurisdiction, which it admitted, Crestek consented to the entry of an Order
Making Findings and Revoking Registration of Securities Pursuant to Section
12(j) of the Securities Exchange Act of 1934 as to Crestek, Inc. finding that it
had failed to comply with Section 13(a) of the Securities Exchange Act of 1934
(Exchange Act) and Rules 13a-1 and 13a-13 thereunder and revoking the
registration of each class of Crestek's securities pursuant to Section 12(j) of
the Exchange Act. This Order settled the proceedings brought against Crestek in
In the Matter of China Voice Holding Corp., et al., Administrative Proceeding
File No. 3-15076.
Brokers and dealers should be alert to the fact that Exchange Act Section 12(j)
provides, in pertinent part, as follows:
No member of a national securities exchange, broker, or dealer shall make use of
the mails or any means or instrumentality of interstate commerce to effect any
transaction in, or to induce the purchase or sale of, any security the
registration of which has been and is suspended or revoked . . . .
For more information see Order Instituting Administrative Proceedings and Notice
of Hearing Pursuant to Section 12(j) of the Securities Exchange Act of 1934, In
the Matter of China Voice Holding Corp., et al., Administrative Proceeding File
No. 3-15076, Exchange Act Release No. 68091, October 24, 2012. (Rel. 34-68566;
File No. 3-15076)
Copyright (C) 2013 Federal Information & News Dispatch, Inc.
-0-
Source: Comtex Wall Street News
http://www.otcmarkets.com/stock/CHVC/news
SUSPENDED:
The U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of the following issuers, commencing at 9:30 a.m. EDT on October 24, 2012 and terminating at 11:59 p.m. EST on November 6, 2012:
• China Voice Holding Corp. (CHVC)
• China Yongxin Pharmaceuticals, Inc. (CYXN)
• Creative Technologies Holdings, Inc. (CRTV)
• Crestek, Inc. (CRST)
• Crys*Tel Telecommunications.com, Inc. (n/k/a Fleet Management Solutions,
Inc.) (FLMG)
• CSI Computer Specialists, Inc. (CSIS)
• CST Entertainment, Inc. (n/k/a Legacy Holding, Inc.) (LGYH)
http://www.sec.gov/litigation/suspensions/2012/34-68092.pdf
SEC Order:
http://www.sec.gov/litigation/suspensions/2012/34-68092-o.pdf
SEC OBTAINS FINAL JUDGMENT IN CASE INVOLVING PONZI SCHEME AND PROMOTION OF CHINA VOICE HOLDING CORP.
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22418 / July 19, 2012
Securities and Exchange Commission v. David Ronald Allen, et al., Civil Action No. 3:11-CV-882-O (N.D. Tex.)
SEC OBTAINS FINAL JUDGMENT IN CASE INVOLVING PONZI SCHEME AND PROMOTION OF CHINA VOICE HOLDING CORP.
On July 6, 2012, the Honorable Reed O’Connor, United States District Judge for the Northern District of Texas, entered a final judgment against Ilya Drapkin, permanently enjoining him and ordering monetary relief.
The final judgment permanently enjoins Drapkin from violating Section 17(a)(3) of the Securities Act of 1933. Drapkin previously consented to the injunction to settle charges that he sold shares of China Voice Holding Corp. while financing stock promotion campaigns encouraging investors to buy shares. The final judgment orders Drapkin, and his company, MG TK Corp., to pay $3,754,004 in disgorgement and prejudgment interest and a civil penalty of $1,554,080. The final judgment also orders Drapkin and MG TK to pay an additional $493,606 in disgorgement and prejudgment interest and Drapkin and his company SMI Chips, Inc. to pay $74,270 in disgorgement and prejudgment interest. These figures represent the profits gained by Drapkin, MG TK, and SMI Chips from a Ponzi scheme run by China Voice’s former CFO, David Ronald Allen, and other associates. In addition, Drapkin is barred from participating in offerings of penny stocks.
The Commission’s complaint, originally filed on April 28, 2011, alleged that China Voice, Allen, and former CEO and President William F. Burbank IV made a series of false and misleading statements and omissions regarding China Voice’s financial condition and business prospects. In addition, the SEC charged China Voice shareholders Drapkin and Gerald Patera with financing stock promotion campaigns regarding China Voice. These campaigns included a blast fax campaign conducted by Robert Wilson. The Commission further alleged that Allen, with the assistance of Alex Dowlatshahi and Christopher Mills, launched what became a Ponzi scheme that sought to raise at least $8.6 million from investors around the country.
The Court previously entered final judgments against Burbank, Allen, China Voice, Patera, and various of their companies, to which they all consented. The Commission previously entered into settlements with Dowlatshahi, Mills, Wilson, and various of their companies, and final judgments against these defendants are pending.
See also: Litigation Release Nos. 21953, 21992, 22006, 22113, 22165, 22178, and 22208.
http://www.sec.gov/litigation/litreleases/2012/lr22418.htm
China Voice / CHVC:
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22208 / December 22, 2011
Securities and Exchange Commission v. David Ronald Allen, et al., Civil Action No. 3:11-CV-882-O (N.D. Tex.)
SEC OBTAINS JUDGMENT IN CASE INVOLVING PROMOTION OF CHINA VOICE HOLDING CORP.
On December 21, 2011, the Honorable Reed O’Connor, United States District Judge for the Northern District of Texas, entered an order permanently enjoining Robert Wilson and his company, Strategic Capital.
Without admitting or denying the allegations in the Commission’s complaint, Wilson and Strategic Capital consented to the entry of a judgment that permanently enjoins them from violating Section 17(b) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The judgment also provides that upon motion of the Commission, the Court may order disgorgement of ill-gotten gains and prejudgment interest thereon against Wilson, Strategic Capital, and another Wilson company, Green Horseshoe Holdings, Inc. In addition, pursuant to the judgment, the Court may order civil penalties in amounts the Court deems appropriate against Wilson and Strategic Capital, as well as a penny stock bar against Wilson.
The Commission’s complaint, originally filed on April 28, 2011, alleged that China Voice Holding Corp., its former CFO and co-founder David Ronald Allen, and former CEO and President William F. Burbank IV made a series of false and misleading statements and omissions regarding China Voice’s financial condition and business prospects. In addition, the SEC charged China Voice shareholders Ilya Drapkin and Gerald Patera with financing stock promotion campaigns regarding China Voice. These campaigns included a blast fax campaign conducted by Robert Wilson and Strategic Capital, which the SEC alleged contained false and misleading statements and failed to accurately disclose the amount and source of the compensation Wilson, Strategic Capital, and Green Horseshoe Holdings, Inc. received.
The Commission previously entered into settlements with the other defendants in this matter: Allen, Burbank, China Voice, Drapkin, Patera, Alex Dowlatshahi, Christopher Mills, and various of their companies.
See also: Litigation Release Nos. 21953, 21992, 22006, 22113, 22165, and 22178.
http://www.sec.gov/litigation/litreleases/2011/lr22208.htm
Additional notice....Depository Trust Corp: DTC has suspended all services, except Custody Services, for the below referenced issues. The suspensions are effective October 27, 2011.
CUSIP...... SECURITY NAME
16946A100 China Voice Holding Corporation
28224E209 EFuel EFN Corporation
70558E207 Pegasus Wireless Corporation
Questions regarding DTC’s Important Notice should be directed to the Office of Corporate Regulatory Compliance at DTCCServiceRestrictionInquiries@DTCC.com.
The following are links to SEC release/complaints:
http://www.sec.gov/litigation/complaints/2009/comp21060.pdf
http://www.sec.gov/litigation/complaints/2011/comp-pr2011-101.pdf
http://www.sec.gov/litigation/litreleases/2011/lr22126.htm
http://dtcc.com/downloads/legal/imp_notices/2011/dtc/ope/1689-11.pdf
Please be advised that effective close of business October 28, 2011, NSCC has exited positions from the Continuous Net Settlement System (CNS) in the following CUSIP’s and future trades will be designated trade for trade.
CUSIP...... SECURITY NAME
125649400 CLX Medical, Inc.
833626104 Social Media Ventures, Inc.
98148H109 World Health Energy, Inc.
98741R108 You on Demand Holdings, Inc.
022201107 Alumifuel Power Corporation
349683102 Fortune Oil and Gas, Inc.
59863T207 Mike the Pike Productions, Inc.
80516A106 SaveDaily, Inc.
70558E207 Pegasus Wireless Corporation
16946A100 China Voice Holding Corporation
28224E209 EFuel Corporation
The following are links to SEC release/complaints:
http://www.sec.gov/litigation/complaints/2009/comp21060.pdf
http://www.sec.gov/litigation/complaints/2011/comp-pr2011-101.pdf
http://www.sec.gov/litigation/litreleases/2011/lr22126.htm
Without admitting or denying the allegations in the Commission’s complaint, Alex Dowlatshahi and Christopher Mills consented to the entry of judgments that permanently enjoin them from violating Sections 5(a), 5(c), and 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder
That line always irks me!
SEC OBTAINS JUDGMENTS IN CASE INVOLVING PONZI SCHEME BY CO-FOUNDER OF CHINA VOICE HOLDING CORP.
Litigation Release No. 22113 / October 4, 2011
Securities and Exchange Commission v. David Ronald Allen, et al., Civil Action No. 3:11-CV-822-O (N.D. Tex.)
SEC OBTAINS JUDGMENTS IN CASE INVOLVING PONZI SCHEME BY CO-FOUNDER OF CHINA VOICE HOLDING CORP.
On October 4, 2011, the Securities and Exchange Commission announced that the Honorable Reed O’Connor, United States District Judge for the Northern District of Texas, recently entered orders permanently enjoining multiple defendants in a case involving the co-founder of China Voice Holding Corp.
Without admitting or denying the allegations in the Commission’s complaint, Alex Dowlatshahi and Christopher Mills consented to the entry of judgments that permanently enjoin them from violating Sections 5(a), 5(c), and 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. In addition, companies owned and controlled by Dowlatshahi and Mills, including Defendants Integrity Driven Network Corp., Lucrative Enterprises Corp., Synergetic Solutions LLC, Silver Summit Holdings LLC, and Sleeping Bear LLC, were permanently enjoined from violating Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. The judgments also provide that upon motion of the Commission, the Court may order disgorgement of ill-gotten gains, prejudgment interest thereon, and civil penalties in amounts the Court deems appropriate. The judgments were entered on August 31, 2011, and September 19, 2011.
On September 23, 2011, Defendant Ilya Drapkin was permanently enjoined from violating Section 17(a)(3) of the Securities Act. In addition the judgment permanently bars Drapkin from participating in the offer or sale of penny stocks and provides that, upon motion of the Commission, the Court shall order disgorgement of ill-gotten gains, prejudgment interest thereon, and civil penalties in amounts the Court deems appropriate. Drapkin’s companies, Defendants MG TK Corp. and SMI Chips, Inc., also shall be ordered to pay disgorgement of ill-gotten gains and prejudgment interest in amounts the Court deems appropriate upon motion of the Commission. The Defendants consented to the entry of the judgment without admitting or denying the allegations in the Commission’s complaint.
On September 26, 2011, Defendant Gerald Patera, and his companies, Defendants Capital Bankers Group Ltd. and Third Securities Corp., were permanently enjoined from violating Section 17(a) of the Securities Act and Sections 10(b) and 15(a) of the Exchange Act and Rule 10b-5 thereunder. In addition, the judgment permanently bars Patera from participating in the offer or sale of penny stocks and provides that, upon motion of the Commission, the Court shall order disgorgement of ill-gotten gains, prejudgment interest thereon, and civil penalties in amounts the Court deems appropriate. The Defendants consented to the entry of the judgment without admitting or denying the allegations in the Commission’s complaint.
The Commission filed an emergency action on April 28, 2011, alleging that China Voice’s co-founder and former Chief Financial Officer, David Ronald Allen, with the assistance Dowlatshahi and Mills, and numerous related entities, launched what became a Ponzi scheme that sought to raise at least $8.6 million from investors across the country. The Commission alleged that, contrary to what investors were told, proceeds were used to pay back earlier investors; to make payments to Allen, Dowlatshahi, and Mills; and to make payments to Allen-affiliated business, including China Voice.
On June 5, the Honorable Judge Reed O’Connor, United States District Judge, entered a preliminary injunction, which, along with freezing the assets of multiple defendants and relief defendants, prevents the defendants from violating certain provisions of the securities laws, orders the preservation of documents, and requires the defendants to provide an accounting to determine the disposition of investor funds.
The SEC’s complaint also charges China Voice, its former chairman and CEO William Burbank IV, and Allen for a series of fraudulent statements about China Voice’s financial condition and business prospects, as well as Patera, Drapkin, and Robert Wilson for their roles in the scheme.
The Commission’s case is still pending against remaining defendants Allen, Burbank, Wilson, China Voice, and various of their related entities.
See also Litigation Release Nos. 21953 (May 3, 2011), 21992 (June 7, 2011), and 22006 (June 20, 2011).
http://www.sec.gov/litigation/litreleases/2011/lr22113.htm
Litigation Release No. 22006
Jun 20, 2011
OTC Disclosure & News Service
Washington, DC -
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22006 / June 20, 2011
Securities and Exchange Commission v. David Ronald Allen, et al., Civil Action No. 3:11-CV-882-O (N.D. Tex.)
SEC CHARGES ADDITIONAL FRAUD IN CASE INVOLVING PONZI SCHEME BY CO-FOUNDER OF CHINA VOICE HOLDING CORP.
On June 20, 2011, the Commission filed an amended complaint in the U.S. District Court for the Northern District of Texas (Dallas Division) in its case against the co-founder of China Voice Holding Corp., David Ronald Allen, and multiple other defendants. The SEC’s amended complaint charges China Voice, Allen, and William F. Burbank IV (China Voice’s former chairman and CEO) with reconstituting former subsidiaries of China Voice at Voice One Corp. without informing China Voice investors.
On April 28, 2011, the SEC filed a complaint in federal court in Texas, alleging that Allen, Burbank, and China Voice engaged in a series of false and misleading statements and material omissions to investors about China Voice’s financial condition. Today’s complaint alleges that this fraudulent behavior extended to renaming two China Voice subsidiaries and reconstituting them at Voice One and that Allen and Burbank are now involved in running Voice One.
Also as alleged in the SEC’s original complaint, Allen, with the assistance of two associates, launched what became an ongoing fraud that sought to raise at least $8.6 million from investors, telling them that their funds would be used to make loans to profitable businesses with demonstrated track records. The Commission alleged that contrary to what investors were told, proceeds were used to pay back earlier investors; to make payments to Allen and his associates; and to make payments to Allen-affiliated businesses, including China Voice. Today’s amended complaint alleges that Allen also used investor funds to make payments to Voice One, contradicting the disclosures made to investors. The amended complaint also names as a defendant yet another company used by Allen to help carry out the fraud on investors.
The SEC’s amended complaint charges Allen, Alex Dowlatshahi, Christopher Mills, and various related companies with violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC’s amended complaint also charges China Voice, Burbank, and Allen for a series of fraudulent statements about China Voice’s financial condition and business prospects, as well as Gerald Patera, Ilya Drapkin, and Robert Wilson for their roles in the scheme, including violations of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act and Rule 10b-5 thereunder. In addition to the preliminary relief, the SEC’s amended complaint seeks permanent injunctions, disgorgement, prejudgment interest, and financial penalties against all defendants, as well as penny stock bars against Allen, Burbank, Patera, Drapkin, and Wilson, and officer and director bars against Allen and Burbank.
The SEC’s investigation is ongoing.
It's called, "the vice goes on".......
Remember the song by Sonny and Cher?
I believe that the first post on this board in April of 2007 spelled it out very well. Where or where has the SEC been? One can on wonder!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=19085758
NOTE: IMO not intended as investment advice.
http://www.traderslibrary.com/
http://stockcharts.com/school/doku.php?id=chart_school
That's cos the SEC guys are buying LOLOLOL!!
unreal dont see why they dont halt this thing sheesh
OMG people rushing in to get into this Ponzi!
Someone on NITE is now stacking up the bid with a million shares @ $0.0018, below AUTO's 800k share bid. Unreal!
What's up with that huge bid?
Wu, come quick! I need you!
wow scamalammabingbang..S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21953 / May 3, 2011
Securities and Exchange Commission v. David Ronald Allen, et al., Civil Action No. 3:11-cv-00882 (NDTX, Dallas Division)
SEC HALTS PONZI SCHEME BY CO-FOUNDER OF CHINA VOICE HOLDING CORP.
On April 28, 2011, the Securities and Exchange Commission obtained a court order freezing the assets of China Voice Holding Corp., which trades in over-the-counter markets and has claimed to have a portfolio of telecommunications products and services in both the U.S. and China. The SEC alleges that China Voice’s co-founder and his two associates are operating an $8.6 million Ponzi scheme and misusing its proceeds, in part, to help fund the company’s operations.
The SEC alleges that David Ronald Allen, who also was China Voice’s chief financial officer, and his associates Alex Dowlatshahi and Christopher Mills promised investors in a series of offerings of limited partnerships that they would earn returns of at least 25 percent on their investments. Investors were falsely told that their money would be loaned to companies with a demonstrated track record and large profit margins. Instead, Allen and his cohorts used investor funds to pay back investors in earlier partnerships and funneled investor money to China Voice and a complicated web of other companies that Allen controls. Allen and his associates also siphoned investor money to enrich themselves and family members.
In order to maintain the scheme, Allen and his associates have increased the pace and size of the offerings to obtain a steady stream of proceeds from defrauded investors. They are planning or have begun to solicit funds from investors in at least two more limited partnerships in the ongoing fraud. The court order obtained late yesterday freezes the assets of Allen and several others in addition to China Voice. The court also temporarily enjoined these defendants from participating in the offering of securities like those used to perpetrate the fraudulent scheme as alleged by the SEC.
In addition to the Ponzi scheme, the SEC’s complaint filed in U.S. District Court for the Northern District of Texas (Dallas Division) charges China Voice, its former chairman and CEO William F. Burbank IV, and Allen, for a series of fraudulent company statements about its financial condition and business prospects. Among other things, the SEC alleges that China Voice greatly overstated the value of certain business relationships and misled investors by failing to disclose significant loans from related parties needed to fund its operations.
The SEC also alleges that beginning in at least September 2006, China Voice overstated its business in China by claiming to provide telephone and other communications software in China on a much more extensive basis than it actually did. Company press releases and public filings extensively publicized contracts signed by Chinese subsidiaries to provide services to the government and other entities in China, which would provide high levels of projected revenue to the company. But the company recanted in audited financial statements in June 2008, when it disclosed that the majority of the company’s revenue came from its U.S. subsidiaries. Nevertheless, China Voice and its stock promotion campaigns continued to tout purported Chinese contracts.
The SEC’s complaint additionally charges two China Voice shareholders, Gerald Patera and Ilya Drapkin, for helping Allen finance stock promotion campaigns to pump up the company’s stock price. These campaigns included a blast fax campaign orchestrated by Robert Wilson, who also is charged in the SEC’s complaint. The spam faxes were sent to thousands of people at once and contained false and misleading statements about China Voice and who was paying for the faxes. At the same time they were spending more than a million dollars on stock promotion, Patera and Drapkin dumped millions of shares of the company into the market.
The SEC’s complaint charges Allen, Dowlatshahi, Mills, and various related companies, Development Capital Associates Joint Venture, Lucrative Enterprises, Corp., Silver Summit Holdings, LLC, Sleeping Bear, LLC, Synergetic Solutions LLC, and Townhome Communities Corp., with violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and seeks a temporary restraining order, preliminary and permanent injunctions, disgorgement of unlawful proceeds plus prejudgment interest, and a financial penalty. The SEC’s complaint charges Burbank, Patera, Drapkin, and Wilson with violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder for their roles in the scheme. With regard to them, the SEC seeks a permanent injunction, disgorgement of unlawful proceeds plus prejudgment interest, and a financial penalty. The SEC’s complaint also seeks penny stock bars against Allen, Burbank, Patera, Drapkin, and Wilson as well as officer and director bars against Allen and Burbank.
¦SEC Complaint
http://www.sec.gov/litigation/litreleases/2011/lr21953.htm
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
SEC HALTS PONZI SCHEME BY CO-FOUNDER OF CHINA VOICE HOLDING CORP.
Litigation Release No. 21953 / May 3, 2011
Securities and Exchange Commission v. David Ronald Allen, et al., Civil Action No. 3:11-cv-00882 (NDTX, Dallas Division)
SEC HALTS PONZI SCHEME BY CO-FOUNDER OF CHINA VOICE HOLDING CORP.
On April 28, 2011, the Securities and Exchange Commission obtained a court order freezing the assets of China Voice Holding Corp., which trades in over-the-counter markets and has claimed to have a portfolio of telecommunications products and services in both the U.S. and China. The SEC alleges that China Voice’s co-founder and his two associates are operating an $8.6 million Ponzi scheme and misusing its proceeds, in part, to help fund the company’s operations.
The SEC alleges that David Ronald Allen, who also was China Voice’s chief financial officer, and his associates Alex Dowlatshahi and Christopher Mills promised investors in a series of offerings of limited partnerships that they would earn returns of at least 25 percent on their investments. Investors were falsely told that their money would be loaned to companies with a demonstrated track record and large profit margins. Instead, Allen and his cohorts used investor funds to pay back investors in earlier partnerships and funneled investor money to China Voice and a complicated web of other companies that Allen controls. Allen and his associates also siphoned investor money to enrich themselves and family members.
In order to maintain the scheme, Allen and his associates have increased the pace and size of the offerings to obtain a steady stream of proceeds from defrauded investors. They are planning or have begun to solicit funds from investors in at least two more limited partnerships in the ongoing fraud. The court order obtained late yesterday freezes the assets of Allen and several others in addition to China Voice. The court also temporarily enjoined these defendants from participating in the offering of securities like those used to perpetrate the fraudulent scheme as alleged by the SEC.
In addition to the Ponzi scheme, the SEC’s complaint filed in U.S. District Court for the Northern District of Texas (Dallas Division) charges China Voice, its former chairman and CEO William F. Burbank IV, and Allen, for a series of fraudulent company statements about its financial condition and business prospects. Among other things, the SEC alleges that China Voice greatly overstated the value of certain business relationships and misled investors by failing to disclose significant loans from related parties needed to fund its operations.
The SEC also alleges that beginning in at least September 2006, China Voice overstated its business in China by claiming to provide telephone and other communications software in China on a much more extensive basis than it actually did. Company press releases and public filings extensively publicized contracts signed by Chinese subsidiaries to provide services to the government and other entities in China, which would provide high levels of projected revenue to the company. But the company recanted in audited financial statements in June 2008, when it disclosed that the majority of the company’s revenue came from its U.S. subsidiaries. Nevertheless, China Voice and its stock promotion campaigns continued to tout purported Chinese contracts.
The SEC’s complaint additionally charges two China Voice shareholders, Gerald Patera and Ilya Drapkin, for helping Allen finance stock promotion campaigns to pump up the company’s stock price. These campaigns included a blast fax campaign orchestrated by Robert Wilson, who also is charged in the SEC’s complaint. The spam faxes were sent to thousands of people at once and contained false and misleading statements about China Voice and who was paying for the faxes. At the same time they were spending more than a million dollars on stock promotion, Patera and Drapkin dumped millions of shares of the company into the market.
The SEC’s complaint charges Allen, Dowlatshahi, Mills, and various related companies, Development Capital Associates Joint Venture, Lucrative Enterprises, Corp., Silver Summit Holdings, LLC, Sleeping Bear, LLC, Synergetic Solutions LLC, and Townhome Communities Corp., with violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and seeks a temporary restraining order, preliminary and permanent injunctions, disgorgement of unlawful proceeds plus prejudgment interest, and a financial penalty. The SEC’s complaint charges Burbank, Patera, Drapkin, and Wilson with violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder for their roles in the scheme. With regard to them, the SEC seeks a permanent injunction, disgorgement of unlawful proceeds plus prejudgment interest, and a financial penalty. The SEC’s complaint also seeks penny stock bars against Allen, Burbank, Patera, Drapkin, and Wilson as well as officer and director bars against Allen and Burbank.
SEC Complaint
http://www.sec.gov/litigation/complaints/2011/comp21953.pdf
http://www.sec.gov/litigation/litreleases/2011/lr21953.htm
generic
Wish I could say I was suprised. Any business I've ever found that had connections with now BK VOIP,Inc seems to have very questionable business models. JMHO of course. Thanks for the link.
The SEC alleges that David Ronald Allen, who also was China voice's chief financial officer, and his associates Alex Dowlatshahi and Christopher Mills promised investors in a series of offerings of limited partnerships that they would earn returns of at least 25 percent on their investments. Investors were falsely told that their money would be loaned to companies with a demonstrated track record and large profit margins. Instead, Allen and his cohorts used investor funds to pay back investors in earlier partnerships and funneled investor money to China Voice and a complicated web of other companies that Allen controls. Allen and his associates also siphoned investor money to enrich themselves and family members.
http://www.sec.gov/news/press/2011/2011-92.htm
Recent official criticisms of the Forth Worth office seem to have had an effect.
About time the Fort Worth office did something
04/28/2011 2 COMPLAINT for Injunctive and Other Relief against David Ronald Allen, Patricia Allen, Associates Funding Group Inc, William F Burbank, IV, Capital Bankers Group Ltd, China Voice Holding Corp, Community of Pleasant Ridge Ltd, D-Cap II Partners Ltd, D-Cap III Partners Ltd, D-Cap IV Partners Ltd, D-Cap IX Partners Ltd, D-Cap V Partners Ltd, D-Cap VI Partners Ltd, D-Cap VII Partners Ltd, D-Cap VIII Partners Ltd, D-Cap X Partners Ltd, D-Cap XI Partners Ltd, D-Cap XII Partners Ltd, D-Cap XIII Partners Ltd, D-Cap XIV Partners Ltd, D-Cap XV Partners Ltd, D-Cap XVI Partners Ltd, D-Cap XVII Partners Ltd, Darius Assets Holding Corp, Debt Management Associates Ltd, Development Capital Associates Joint Venture, Alex Dowlatshahi, Ilya Drapkin, Green Horseshoe Holdings Inc, Integrity Driven Network Corp, Lucrative Enterprises Corp, MG TK Corp, Christoher Mills, Gerald Patera, SMI Chips Inc, Silver Summit Holdings LLC, Sleeping Bear LLC, Strategic Capital, Synergetic Solutions LLC, Third Securities Corp, Townhome Communities Corp, Robert Wilson, Winterstone Financial Ltd filed by Securities and Exchange Commission. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas should seek admission promptly. Forms and Instructions found at www.txnd.uscourts.gov, or by clicking here: Attorney Information - Bar Membership (skt) (Entered: 04/28/2011)
Doc 2 PDF file
http://www.sec.gov/litigation/complaints/2011/comp-pr2011-101.pdf
Pacer update 28 Apr 11 SEC v. Allen et al CIVIL DOCKET FOR CASE #: 3:11-cv-00882-O
https://ecf.txnd.uscourts.gov/cgi-bin/iquery.pl
U.S. District Court
Northern District of Texas (Dallas)
CIVIL DOCKET FOR CASE #: 3:11-cv-00882-O
Securities and Exchange Commission v. Allen et al
Assigned to: Judge Reed C O'Connor
Cause: 15:77 Securities Fraud
Date Filed: 04/28/2011
Jury Demand: None
Nature of Suit: 850 Securities/Commodities
Jurisdiction: U.S. Government Plaintiff
Plaintiff
Securities and Exchange Commission
represented by Jane M E Peterson
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
202/551-4468
Fax: 202/772-9245
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Carolyn M Welshhans
Securities and Exchange Commission
100 F Street NE
Washington, DC 20549
202/551-4468
Fax: 202/772-9245
David R Herman
Securities and Exchange Commission
100 F Street NE
Washington, DC 20549
202/551-4468
Fax: 202/772-9245
Jennifer Leete
Securities and Exchange Commission
100 F Street NE
Washington, DC 20549
202/551-4468
Fax: 202/772-9245
Stephen L Cohen
Securities and Exchange Commission
100 F Street NE
Washington, DC 20549
202/551-4468
Fax: 202/772-9245
Toby M Galloway
US Securities & Exchange Commission
Burnett Plaza Suite 1900
801 Cherry St Unit # 18
Fort Worth, TX 76102-6882
817/978-6447
Fax: 817/978-4927
Email: gallowayt@sec.gov
ATTORNEY TO BE NOTICED
V.
Defendant
David Ronald Allen
Defendant
William F Burbank, IV
Defendant
Alex Dowlatshahi
Defendant
Ilya Drapkin
Defendant
Christoher Mills
Defendant
Gerald Patera
Defendant
Robert Wilson
Defendant
Associates Funding Group Inc
Defendant
Capital Bankers Group Ltd
Defendant
China Voice Holding Corp
Defendant
Development Capital Associates Joint Venture
Defendant
Integrity Driven Network Corp
Defendant
Lucrative Enterprises Corp
Defendant
MG TK Corp
Defendant
Silver Summit Holdings LLC
Defendant
Sleeping Bear LLC
Defendant
Strategic Capital
Defendant
Synergetic Solutions LLC
Defendant
Third Securities Corp
Defendant
Townhome Communities Corp
Defendant
Patricia Allen
Defendant
Community of Pleasant Ridge Ltd
Defendant
Darius Assets Holding Corp
Defendant
Debt Management Associates Ltd
Defendant
D-Cap II Partners Ltd
Defendant
D-Cap III Partners Ltd
Defendant
D-Cap IV Partners Ltd
Defendant
D-Cap V Partners Ltd
Defendant
D-Cap VI Partners Ltd
Defendant
D-Cap VII Partners Ltd
Defendant
D-Cap VIII Partners Ltd
Defendant
D-Cap IX Partners Ltd
Defendant
D-Cap X Partners Ltd
Defendant
D-Cap XI Partners Ltd
Defendant
D-Cap XII Partners Ltd
Defendant
D-Cap XIII Partners Ltd
Defendant
D-Cap XIV Partners Ltd
Defendant
D-Cap XV Partners Ltd
Defendant
D-Cap XVI Partners Ltd
Defendant
D-Cap XVII Partners Ltd
Defendant
Green Horseshoe Holdings Inc
Defendant
SMI Chips Inc
Defendant
Winterstone Financial Ltd
Date Filed # Docket Text
04/28/2011 2 COMPLAINT for Injunctive and Other Relief against David Ronald Allen, Patricia Allen, Associates Funding Group Inc, William F Burbank, IV, Capital Bankers Group Ltd, China Voice Holding Corp, Community of Pleasant Ridge Ltd, D-Cap II Partners Ltd, D-Cap III Partners Ltd, D-Cap IV Partners Ltd, D-Cap IX Partners Ltd, D-Cap V Partners Ltd, D-Cap VI Partners Ltd, D-Cap VII Partners Ltd, D-Cap VIII Partners Ltd, D-Cap X Partners Ltd, D-Cap XI Partners Ltd, D-Cap XII Partners Ltd, D-Cap XIII Partners Ltd, D-Cap XIV Partners Ltd, D-Cap XV Partners Ltd, D-Cap XVI Partners Ltd, D-Cap XVII Partners Ltd, Darius Assets Holding Corp, Debt Management Associates Ltd, Development Capital Associates Joint Venture, Alex Dowlatshahi, Ilya Drapkin, Green Horseshoe Holdings Inc, Integrity Driven Network Corp, Lucrative Enterprises Corp, MG TK Corp, Christoher Mills, Gerald Patera, SMI Chips Inc, Silver Summit Holdings LLC, Sleeping Bear LLC, Strategic Capital, Synergetic Solutions LLC, Third Securities Corp, Townhome Communities Corp, Robert Wilson, Winterstone Financial Ltd filed by Securities and Exchange Commission. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas should seek admission promptly. Forms and Instructions found at www.txnd.uscourts.gov, or by clicking here: Attorney Information - Bar Membership (skt) (Entered: 04/28/2011)
04/28/2011 ***Clerk's Notice of delivery: (see NEF for details) Docket No:1. Thu Apr 28 16:53:36 CDT 2011 (crt) (Entered: 04/28/2011)
04/28/2011 1 New Case Notes: A filing fee is not due for this case. Magistrate Judge Toliver preliminarily assigned. File to Judge O Connor. Pursuant to Misc. Order 6, Plaintiff is provided the Notice of Right to Consent to Proceed Before A U.S. Magistrate Judge. Clerk to provide copy to plaintiff if not received electronically. (skt) (Entered: 04/28/2011)
https://ecf.txnd.uscourts.gov/cgi-bin/iquery.pl
You might enjoy reading today's news.
Took them long enough...
...the SEC's complaint filed in U.S. District Court for the Northern District of Texas (Dallas Division)...
SEC Halts Ponzi Scheme by Co-Founder of China Voice Holding Corp.
FOR IMMEDIATE RELEASE
2011-101
Washington, D.C., April 29, 2011 — The Securities and Exchange Commission today announced that it has obtained a court order freezing the assets of China Voice Holding Corp., which trades in over-the-counter markets and has claimed to have a portfolio of telecommunications products and services in both the U.S. and China. The SEC alleges that China Voice's co-founder and his two associates are operating an $8.6 million Ponzi scheme and misusing its proceeds, in part, to help fund the company's operations.
Additional Materials
SEC Complaint
http://www.sec.gov/litigation/complaints/2011/comp-pr2011-101.pdf
The SEC alleges that David Ronald Allen, who also was China voice's chief financial officer, and his associates Alex Dowlatshahi and Christopher Mills promised investors in a series of offerings of limited partnerships that they would earn returns of at least 25 percent on their investments. Investors were falsely told that their money would be loaned to companies with a demonstrated track record and large profit margins. Instead, Allen and his cohorts used investor funds to pay back investors in earlier partnerships and funneled investor money to China Voice and a complicated web of other companies that Allen controls. Allen and his associates also siphoned investor money to enrich themselves and family members.
In order to maintain the scheme, Allen and his associates have increased the pace and size of the offerings to obtain a steady stream of proceeds from defrauded investors. They are planning or have begun to solicit funds from investors in at least two more limited partnerships in the ongoing fraud. The court order obtained late yesterday freezes the assets of Allen and several others in addition to China Voice. The court also temporarily enjoined these defendants from participating in the offering of securities like those used to perpetrate the fraudulent scheme as alleged by the SEC.
"These promoters falsely touted what they claimed to be a prudent investment with reliable returns through loans made to carefully selected businesses," said Stephen L. Cohen, Associate Director of the SEC's Division of Enforcement. "This fraud illustrates that when extraordinarily high returns are promised in a supposedly low-risk investment, that's a tell-tale sign that something likely is amiss."
In addition to the Ponzi scheme, the SEC's complaint filed in U.S. District Court for the Northern District of Texas (Dallas Division) charges China Voice, its former chairman and CEO William F. Burbank IV, and Allen, for a series of fraudulent company statements about its financial condition and business prospects. Among other things, the SEC alleges that China Voice greatly overstated the value of certain business relationships and misled investors by failing to disclose significant loans from related parties needed to fund its operations.
The SEC also alleges that beginning in at least September 2006, China Voice overstated its business in China by claiming to provide telephone and other communications software in China on a much more extensive basis than it actually did. Company press releases and public filings extensively publicized contracts signed by Chinese subsidiaries to provide services to the government and other entities in China, which would provide high levels of projected revenue to the company. But the company recanted in audited financial statements in June 2008, when it disclosed that the majority of the company's revenue came from its U.S. subsidiaries. Nevertheless, China Voice and its stock promotion campaigns continued to tout purported Chinese contracts.
The SEC's complaint additionally charges two China Voice shareholders, Gerald Patera and Ilya Drapkin, for helping Allen finance stock promotion campaigns to pump up the company's stock price. These campaigns included a blast fax campaign orchestrated by Robert Wilson, who also is charged in the SEC's complaint. The spam faxes were sent to thousands of people at once and contained false and misleading statements about China Voice and who was paying for the faxes. At the same time they were spending more than a million dollars on stock promotion, Patera and Drapkin dumped millions of shares of the company into the market.
The SEC's complaint charges Allen, Dowlatshahi, Mills, and various related companies with violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and seeks a temporary restraining order, preliminary and permanent injunctions, disgorgement of unlawful proceeds plus prejudgment interest, and a financial penalty. The SEC's complaint charges Burbank, Patera, Drapkin, and Wilson with violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder for their roles in the scheme. With regard to them, the SEC seeks a permanent injunction, disgorgement of unlawful proceeds plus prejudgment interest, and a financial penalty. The SEC's complaint also seeks penny stock bars against Allen, Burbank, Patera, Drapkin, and Wilson as well as officer and director bars against Allen and Burbank.
The SEC's investigation was conducted by Carolyn Welshhans, David Herman, Pierron Leef, and Donato Furlano in Washington, D.C. Jane Peterson will lead the litigation.
# # #
For more information about this enforcement action, contact:
Stephen L. Cohen
Associate Director, SEC Division of Enforcement
(202) 551-4472
Jennifer S. Leete
Assistant Director, SEC Division of Enforcement
(202) 551-4971
http://www.sec.gov/news/press/2011/2011-92.htm
It's alive!!!
DALLAS, TX, Apr 21, 2011 (MARKETWIRE via COMTEX) -- China Voice Holding Corporation (CHVC) CHVC +35.29% , announced today that it has acquired 100% of the outstanding stock of NTELEC Networks, LLC ("NTELEC"), a U.S. VOIP Communications and Service company based in the Dallas, Texas area. Don Preston, President of NTELEC, will become Chief Executive Officer and Director of CHVC as a result of the acquisition. Tracy Hughes, CPA, MBA will become Chief Financial Officer.
Don Preston commented, "The acquisition of NTELEC's business by CHVC will provide a strong platform to allow for the expansion of the VOIP business in the United States. We believe that we have significant M&A opportunities as well as a plan to support strong domestic organic growth over the next two years. We also want to express our thanks to Bill Burbank, our former CEO, and D. Ronald Allen, our former CFO, for their years of service to CHVC and their vision in helping bring about this opportunity for CHVC."
China Voice Holding Corp. ("CHVC") is a U.S. publicly-traded holding company headquartered in Dallas, Texas with a portfolio of next-generation VOIP communications products and services doing business in the U.S.
THEY ARE DEAD IN THE WATER 100%,
CHVC IS FINISHED. NO CASH, NO QTR FILED.
BI BY BUY BYE
I've been looking into this too....if im correct the relationship is no more
Seemed to be a good company with alot of promise... What happened to the communication with chvc and it's investors as was promised?
And what is their relationship with FLTT as of today?
Our Clients
The following is a partial list of clients we worked with at one level or another, either as investor awarness, corporate relations or finance.
CHVC
http://www.minamargroup.com/clients.php
Outstanding Shares
161,098,956 as of Sep 30, 2008
Authorized Shares
400,000,000 as of Sep 30, 2008
Float(shares)
32,315,160 as of Sep 30, 2008
China Voice Holding Corp. Signs Agreement With China Mobile and Provides Update to Shareholders
BOCA RATON, Fla., Oct 30, 2009 /PRNewswire-FirstCall via COMTEX/ -- China Voice Holding Corporation (CHVC) (OTC: CHVC), announced today that its China subsidiary, Beijing CandidSoft Technology Co. Ltd. (CandidSoft), has signed an agreement with China Mobile, the world's largest mobile network and mobile subscriber base carrier, to provide CandidSoft with preferential rates and cooperation. The China Mobile agreement term is for 5 years. The Company had previously announced on July 16,( )2009 that it had signed a similar agreement with China Netcom, which is now China Unicom Ltd. Both agreements are revenue sharing arrangements and also provide for installation and support of the Company's current Chinese Government and large enterprise customer contracts for SKY O/A Office Automation with integrated Digital Voice Application in the Guangxi Province.
CHVC's President and CEO, Bill Burbank, said, "We now have signed agreements with two of the three Chinese carriers to support our large enterprise and government contracts in China. Both China Mobile and China Unicom have invested hundreds of millions of dollars into their wireless 3G network and are looking for partners to not only use their networks but provide value added solutions that keep their customers connected to them. CandidSoft's solutions do just that, and we expect to see installation progress by the end of this year. We anticipate that utilizing wireless broadband connectivity will enable us to install our solution at a much faster pace and at less cost to the carrier than running cable, especially in remote rural areas."
Update to Shareholders
-- China M & A Strategy- As previously announced, the Company recently
acquired Sino Beyond Limited, a Hong Kong company. This company will be
utilized to acquire additional companies in China. CHVC has also engaged
Hong Kong accounting firm, BDO Limited, to certify the company's value
so that it can engage targeted acquisitions in China.
-- Technology Solutions required for CandidSoft Contract Deployments-
Beijing CandidSoft Technology Co. Ltd. has signed an agreement with
Borde Solutions Pte. Ltd. of Singapore whereby Borde shall supply the
Borde - Hybrid Wireless Solution to CandidSoft's broadband connectivity
provider for the Company's government and large enterprise contracts.
The Borde system is an integrated edge device to provision wireless
access and connectivity including QoS, Filtering and Virus/Spam. The
device supports wired cable connectivity as well as wireless 3G and WiFi
or WiMax. Borde's devices are currently being evaluated and certified by
China Unicom Ltd. After this approval, the Company will apply for
China's MII certification as well. The Company expects this device to
enable use of China Mobile and China Unicom's 3G wireless networks as
well as resolve many China internet quality issues that the Company has
experienced in the past. This device does not replace the Company's use
of InterEdge Technologies VoIP end devices used for SKY O/A Office
Automation with integrated Digital Voice.
-- Large Logistics Company Focus- During 2009, CandidSoft has focused on
providing solutions to large logistics companies because of its success
during the first phase of its agreement with previously announced
SuperBig Logistics Co. The Company is currently in the final planning
stage of Phase 2 of the SuperBig Enterprise IT Modernization Contract,
which is projected to be $10 Million in revenue and has also signed a
Letter of Intent with Wantong Logistics, another large Chinese logistics
company.
-- Advance to the OTCBB- CHVC as a fully reporting company is being
sponsored by a Market Maker to become approved for quotation on the
OTCBB market. The Company is currently working through the OTCBB
approval process.
-- Q-Chat teleconferencing application- This application that was developed
by CandidSoft for China Unicom's (CUC) SCDMA cellular network in GuangXi
Autonomous Region and previously announced on March 03, 2009, continues
to support over 400,000 users. To date, CUC has not expanded this
application into other markets.
-- China Contract Installations - The Company has experienced major delays
in installation of its contracts, due primarily to the China Netcom and
China Unicom merger, which was completed in May of this year. CHVC
remains optimistic that with the support agreements signed with China
Unicom and China Mobile, as well as the agreement with Borde Solutions,
that it will be in a much better position to overcome the many obstacles
it has experienced during this year. Based on this positive direction,
CHVC believes that it will start realizing additional revenue from its
contracts sometime in December of this year.
China Voice Holding Corp. ("CHVC") is a U.S. publicly-traded holding company headquartered in South Florida with a portfolio of next-generation communications products and services doing business in the People's Republic of China. Through its subsidiaries, the Company provides Voice over Internet Protocol ("VoIP") telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services in China, where the Company has obtained full legal status as a licensed telecommunications company. CHVC's focus is on providing its innovative and proprietary voice and data solutions to government agencies and large enterprises in China. China Voice Holding Corp. trades Over-the-Counter and is listed in the Pink Sheets under the symbol "CHVC". CHVC has become a fully reporting company and files required financial and disclosure reports with the SEC. The Company is progressing through the process for quotation on the OTCBB and expects to move to this market in the near future. Additional information may be found at www.chvc.com.
Forward-Looking Statements
The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's anticipated filings with the Securities and Exchange Commission.
China Voice Investor Contact:
The Eversull Group, Inc.
Jack Eversull
972-378-7917 or 972-571-1624
972-378-7981 (fax)
jack@theeversullgroup.com
ir@chvcmail.com
Current info "update"
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=18759
Well nothing was happening up till now......
PR today
Contact info at bottom....
---------------------------------------------------------------
China Voice Holding Corp. Signs Agreement With China Mobile and Provides Update to Shareholders
Oct 30, 2009 09:30:00 (ET)
BOCA RATON, Fla., Oct 30, 2009 /PRNewswire-FirstCall via COMTEX/ -- China Voice Holding Corporation (CHVC) (CHVC, Trade ), announced today that its China subsidiary, Beijing CandidSoft Technology Co. Ltd. (CandidSoft), has signed an agreement with China Mobile, the world's largest mobile network and mobile subscriber base carrier, to provide CandidSoft with preferential rates and cooperation. The China Mobile agreement term is for 5 years. The Company had previously announced on July 16,( )2009 that it had signed a similar agreement with China Netcom, which is now China Unicom Ltd. Both agreements are revenue sharing arrangements and also provide for installation and support of the Company's current Chinese Government and large enterprise customer contracts for SKY O/A Office Automation with integrated Digital Voice Application in the Guangxi Province.
CHVC's President and CEO, Bill Burbank, said, "We now have signed agreements with two of the three Chinese carriers to support our large enterprise and government contracts in China. Both China Mobile and China Unicom have invested hundreds of millions of dollars into their wireless 3G network and are looking for partners to not only use their networks but provide value added solutions that keep their customers connected to them. CandidSoft's solutions do just that, and we expect to see installation progress by the end of this year. We anticipate that utilizing wireless broadband connectivity will enable us to install our solution at a much faster pace and at less cost to the carrier than running cable, especially in remote rural areas."
Update to Shareholders
-- China M & A Strategy- As previously announced, the Company recently
acquired Sino Beyond Limited, a Hong Kong company. This company will be
utilized to acquire additional companies in China. CHVC has also engaged
Hong Kong accounting firm, BDO Limited, to certify the company's value
so that it can engage targeted acquisitions in China.
-- Technology Solutions required for CandidSoft Contract Deployments-
Beijing CandidSoft Technology Co. Ltd. has signed an agreement with
Borde Solutions Pte. Ltd. of Singapore whereby Borde shall supply the
Borde - Hybrid Wireless Solution to CandidSoft's broadband connectivity
provider for the Company's government and large enterprise contracts.
The Borde system is an integrated edge device to provision wireless
access and connectivity including QoS, Filtering and Virus/Spam. The
device supports wired cable connectivity as well as wireless 3G and WiFi
or WiMax. Borde's devices are currently being evaluated and certified by
China Unicom Ltd. After this approval, the Company will apply for
China's MII certification as well. The Company expects this device to
enable use of China Mobile and China Unicom's 3G wireless networks as
well as resolve many China internet quality issues that the Company has
experienced in the past. This device does not replace the Company's use
of InterEdge Technologies VoIP end devices used for SKY O/A Office
Automation with integrated Digital Voice.
-- Large Logistics Company Focus- During 2009, CandidSoft has focused on
providing solutions to large logistics companies because of its success
during the first phase of its agreement with previously announced
SuperBig Logistics Co. The Company is currently in the final planning
stage of Phase 2 of the SuperBig Enterprise IT Modernization Contract,
which is projected to be $10 Million in revenue and has also signed a
Letter of Intent with Wantong Logistics, another large Chinese logistics
company.
-- Advance to the OTCBB- CHVC as a fully reporting company is being
sponsored by a Market Maker to become approved for quotation on the
OTCBB market. The Company is currently working through the OTCBB
approval process.
-- Q-Chat teleconferencing application- This application that was developed
by CandidSoft for China Unicom's (CUC) SCDMA cellular network in GuangXi
Autonomous Region and previously announced on March 03, 2009, continues
to support over 400,000 users. To date, CUC has not expanded this
application into other markets.
-- China Contract Installations - The Company has experienced major delays
in installation of its contracts, due primarily to the China Netcom and
China Unicom merger, which was completed in May of this year. CHVC
remains optimistic that with the support agreements signed with China
Unicom and China Mobile, as well as the agreement with Borde Solutions,
that it will be in a much better position to overcome the many obstacles
it has experienced during this year. Based on this positive direction,
CHVC believes that it will start realizing additional revenue from its
contracts sometime in December of this year.
China Voice Holding Corp. ("CHVC") is a U.S. publicly-traded holding company headquartered in South Florida with a portfolio of next-generation communications products and services doing business in the People's Republic of China. Through its subsidiaries, the Company provides Voice over Internet Protocol ("VoIP") telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services in China, where the Company has obtained full legal status as a licensed telecommunications company. CHVC's focus is on providing its innovative and proprietary voice and data solutions to government agencies and large enterprises in China. China Voice Holding Corp. trades Over-the-Counter and is listed in the Pink Sheets under the symbol "CHVC". CHVC has become a fully reporting company and files required financial and disclosure reports with the SEC. The Company is progressing through the process for quotation on the OTCBB and expects to move to this market in the near future. Additional information may be found at www.chvc.com .
Forward-Looking Statements
The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's anticipated filings with the Securities and Exchange Commission.
China Voice Investor Contact:
The Eversull Group, Inc.
Jack Eversull
972-378-7917 or 972-571-1624
972-378-7981 (fax)
jack@theeversullgroup.com
ir@chvcmail.com
i'm posting just because i think its pathetic that no one has posted in almost 3 mths. anyone spoken to the powers that be about when something is going to happen?
CHVC.PK Announces First Order for SKY O/A with Integrated Digital Voice Services under New China Unicom Ltd. Agreement
China Voice Holding Corp.’s China subsidiary, Beijing CandidSoft Technology Co. Ltd., received its first order from China Unicom for CandidSoft’s patented/copyrighted SKY O/A Office Automation with integrated Digital Voice Application under their new agreement announced previously this month. The installation of these services is for a government education project in the County of ChongZuo in Guangxi Province.
According to the press release, this government education project requires a complete revamp of communications infrastructure in all education related facilities including installation of high speed Internet connections and SKY O/A to provide telephone services, fax and data service for a Unified messaging solution.
CHVC’s President and CEO, Bill Burbank, said, “This installation will enable the sharing of resources and knowledge through an integrated network of services managed by the SKY O/A platform, which provides real-time communication means to facilitate a ‘connected’ teaching and learning environment. We are excited about this new application for our technology and believe that it opens up a whole new market for us.”
He continued, “The initial rollout will be for the teaching staff of approximately two thousand; however, China Unicom believes that the project will eventually extend to include students. The financial details and project plan will be confirmed during the month of August with installations projected to take place by mid September.”
CHVC.PK Building On Long Term Relationships
China Voice Holding Corp., a U.S. based holding company providing next generation communication services to government agencies and corporations in China, sees itself as doing more than just selling things to the Chinese. The company believes that the most successful long-term Asian strategy must involve reciprocity and two-way partnerships that promote trust and growing mutual interests.
A key part of this approach is China Voice Holding’s ongoing merger and acquisition policy, by which the company seeks to use its securities to acquire multiple technology companies. As such, the company provides a vehicle for Chinese businesses to become participants in America’s economy and free enterprise system. This also enables China Voice shareholders to quickly realize the benefits of valuable intellectual property, revenue, and profits from these Chinese businesses.
In addition, China Voice Holding, through its subsidiaries, provides advanced communication solutions to profitable niche markets in Asia, generating recurring revenues from activation, subscription, and utilization fees. Technologies include integrated voice and data solutions, and patented office automation technology.
The company’s subsidiaries have developed, and benefit from, a strong base of communication licenses and government relationships, including a strong association with China’s state-owned Telcos. The company has also signed agreements with China’s 2nd largest telecommunications carrier, China Netcom (CNC), to provide China Voice with preferential rates and cooperation. CNC will provide connectivity, network expansion, installation, billing, collection, and ongoing support for China Voice government contracts.
The initial phase of the CNC agreement involves the installation of the SKY O/A integrated Office Automation and VoIP solution to approximately 55,000 seats for the GuangXi Autonomous Region of China. China Voice Holding’s subsidiary, Beijing CandidSoft Technology Co. Ltd., has already completed the installation of the first 1,000 seats of the contract. CNC is also private labeling the technology to sell to the private sector in China.
CHVC.PK Led by a Strong Management Team
China Voice Holding Corp. is a company with a portfolio of next-generation communications products and services doing business in mainland China as a licensed telecommunications company. Through its subsidiaries, the company provides VoIP telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services.
China Voice Holding is managed by a team of professionals with experience in the communications industry both in the US and in Asia. Here is the company’s management team:
Hin Hiang Khoo, Chairman of the Board – Mr. Khoo is an international business advisor and entrepreneur who has assisted many companies in their public flotation around the globe during the last 40 years. He is also chairman of VolUM Technologies, a communications software company based in Singapore. Mr. Khoo was a partner in Softgen, a telecom software company that was purchased by a US firm in 1999.
Bill Burbank, CEO – Mr. Burbank brings more than 25 years of success in business development and operations experience to the company. He has extensive experience working with public and private emerging technology development companies in the US, Canada and Asia. Mr. Burbank was CEO of DTNet Technologies, a value-added distributor of broadband, wireless and VoIP products.
D.Ronald Allen, CFO – Mr. Allen is a co-founder of the company and has held the positions of chairman, CEO, president and secretary of the company. He is a former partner in KPMG Peat Martwick accounting firm and a successful entrepreneur. From 1999 to 2004, Mr. Allen served as chairman of Integrated Performance Systems, an electronics manufacturer serving the high-speed wireless communications, broadband communications, and digital electronics industries.
Jason H.B. Lim, COO, Asia Operations – Mr. Lim brings vast operational and management skills to the company. He has extensive experience in the international telecommunications industry and advanced technical knowledge of UNIX, Microsoft and other proprietary platforms. Prior to joining the company, Mr. Lim held senior management positions at numerous firms including WBC Ltd., VolUM Technologies, AirGateway, WAPworkz Technologies and Webpoint Technologies.
Chun Lin Xing, president of CHVC China Operations – Mr. Xing manages the company’s China operations which currently consists of two subsidiaries. He has over 14 years experience in IT businesses in China and has founded 4 start-up companies. He is the founder and CEO of CHVC subsidiary Beijing Candid Soft Beijing, China. Prior to this, he was the managing director of IBC China – a joint venture between US and Singapore investors and China’s National Information Center. Mr. Xing is also a world renowned expert and innovator in the office automation software industry.
CHVC.PK Continues to Engage Hong Kong Auditors to Assist With Expansion Strategy
China Voice Holding Corp. announced earlier this month that it has re-engaged its current auditors, Cheung & Co. of Hong Kong. Bill Burbank, President and CEO of CHVC, commented, “The re-engagement of Cheung & Co. will allow us to continue our momentum in moving to the OTCBB Market and expanding our business operations in China. Cheung & Co. is an excellent auditing firm, well positioned in Hong Kong to meet our needs, and we look forward to working with them for another year.”
CHVC’s CFO, D. Ronald Allen added, “We are very pleased to have re-engaged Cheung & Co. to audit our June 30, 2009 fiscal year. As a fully reporting company, we are committed to providing timely, accurate financial information, and our auditors are a vital part of the reporting and financial controls process. In addition, having Hong Kong based auditors will facilitate our plans to acquire additional Chinese companies using our new Hong Kong subsidiary, Sino Beyond, Ltd. With the funds from the sale of our U.S. subsidiaries, strong presence in China and our patented/copyrighted SKY O/A software, CHVC is poised for growth and a successful fiscal year ending June 30, 2010.”
China Voice Holding Corp. has a portfolio of next-generation communications products and services. Through its subsidiaries, the company provides Voice over Internet Protocol telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services in China, where the company has obtained full legal status as a licensed telecommunications company. China Voice is progressing through the process to list on the OTCBB and anticipates the move to this market in the near future.
CHVC.PK Subsidiary Signs Agreement with China Unicom Ltd.
China Voice Holding Corporation announced last week that their subsidiary, Beijing CandidSoft Technology Co. Ltd., has signed an agreement with China Unicom Ltd. to private label its patented/copyrighted SKY O/A Office Automation with integrated Digital Voice Application. The revenue sharing agreement provides for installation and support of the company’s current Chinese Government and large enterprise customer contracts in the Guangxi Province. This 9 year agreement will operate simultaneously with CandidSoft’s previously announced agreement with China Netcom.
China Voice Holding Corp. is a publicly-traded holding company in South Florida with a portfolio of next-generation communications products and services doing business in the People’s Republic of China, where the company has obtained full legal status as a licensed telecommunications company. The company provides Voice over Internet Protocol telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services. CHVC’s focus is on providing its innovative and patented voice and data solutions to government agencies and large enterprises in China.
Currently, three state-run businesses dominate the Chinese telecommunications industry: China Telecom, China Unicom and China Mobile. China Unicom Ltd. offers GSM telephone and related services, fixed-line voice and value-added services, broadband and other Internet-related services, information communications technology services, business and data communications services, and advertising and media services, as well as long distance services. As of December 2008, it served approximately 133 million GSM subscribers in 31 provinces, municipalities, and autonomous regions in mainland China.
CHVC’s President and CEO Bill Burbank, commented, “This agreement comes after months of discussion, negotiation and delays caused by the China Netcom and China Unicom merger. We are happy to have this agreement behind us so that we can focus on the installations of our Chinese Government Contracts and supporting the China Unicom private labeled version of our technology. We expect that now that our responsibilities are clearly defined and China Unicom has confirmed their support as well as desire to grow this part of their business, we will soon see significant progress in our Contract installations.”
Burbank added, “Under the new agreement, China Unicom is responsible for wireless mobile network, broadband internet, telephone switching network and NGN network connectivity, first level customer support, billing, collections, end user voice communication equipment, and hosting, maintenance and monitoring of CandidSoft’s hardware and server equipment. China Unicom is also responsible for ICT brand promotion and marketing campaigns. CandidSoft is responsible for SKY O/A application development, software upgrades, maintenance, enhancements and support. In addition, CandidSoft is expected to provide new solutions for the implementation of specific China Unicom data services.”
Nice play this week congrats to all who got in + 30% today. Support is .22 an .20 with no resistance ahead.
China Voice Holdings (Pinksheets:CHVC - News) announced they have signed an agreement with China Unicom (NYSE:CHU - News) for the private labeling of its patented SKY O/A Office Automation system under the ICT brand.
The 9-year revenue sharing agreement with China Unicom, who is the second largest state-run telecom company in China with over 133 million GSM subscribers, will be to service the networks, provide customer support and marketing for its large enterprise and government contracts. For more information please visit: http://www.chinaunicom.com.hk
Other active stocks are Verizon (NYSE:VZ - News) and Sprint Nextel (NYSE:S - News).
For the full release: http://finance.yahoo.com/news/China-Voice-Holding-Corp-prnews-4146596657.html?x=0&.v=1
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A nice move this morning I think with a break of the 200 MA line of .225 on the bid side we could possibly see a continuation here. Support is .20 and .186 Resistance is .22 and .225
I got this in my email in June . Dont buy it.
Press Release
Murphy Analytics Research Group Affirms 'Outperform' Rating on China Voice Holding Corp. Based on Progress
Friday December 5, 11:17 am ET
BOCA RATON, Fla., Dec. 5 /PRNewswire-FirstCall/ -- China Voice Holding Corporation (CHVC) (OTC: CHVC - News), announced today that Murphy Analytics, an equity research group who initiated coverage on July 31, 2008 has updated coverage on CHVC and affirmed their "Outperform" rating based on the progress to date and significant opportunity before the Company.
In the original report entitled "Contracts with Chinese Government and Partnership with China Netcom Drive Near and Long Term Opportunity for CHVC," Murphy Analytics points out the huge opportunity in China that should significantly propel CHVC's revenues in China over the next 3 years.
According to Patrick J. Murphy, CFA, and author of the report, CHVC's unique and patented Office Automation software with Voice over IP Telephony services added, along with its partnership with China Netcom who recently merged with China Unicom and the lack of any viable Chinese software alternative for large governmental agency users, makes it clear that the opportunities are very attractive and the projected results are reasonably attainable.
CHVC's President and CEO, Bill Burbank said, "We are very pleased with the in-depth coverage of Murphy Analytics Research. Their report provides serious investors with a very comprehensive view of our Company, progress and what we believe to be a bright future for our shareholders. Murphy Analytics continues to see a great deal of upside in both the near and long term for CHVC shareholders in their updated report with their Outperform rating."
The full report is available for review at
http://www.murphyanalytics.com/uploads/CHVC_Update.
China Voice Holding Corp. ("CHVC") is a U.S. publicly-traded holding company headquartered in South Florida with a portfolio of next-generation communications products and services doing business in the People's Republic of China and the U.S. Through its subsidiaries, the Company provides Voice over Internet Protocol ("VoIP") telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services in China, where the Company has obtained full legal status as a licensed telecommunications company. The Chinese telecommunications market is the largest and fastest growing in the world. CHVC's focus is on providing its innovative and patented voice and data solutions to government agencies and large enterprises in China. China Voice Holding Corp. trades Over-the-Counter and is listed in the Pink Sheets under the symbol "CHVC". Prior to the filing of periodic reports to the SEC, the Company is providing its recently audited financial statements and other current information at the pinksheets.com website. Additional information may be found at http://www.chvc.com.
About Murphy Analytics
Murphy Analytics provides company-sponsored research coverage on small-cap stocks in a broad range of sectors. Murphy Analytics was paid $2,000 by China Voice Holding Corp. for the report update. For additional information, please visit http://www.murphyanalytics.com. The views expressed in the report on China Voice Holding Corp. accurately reflect the analyst's personal views. Neither the analyst's compensation nor the compensation received by Murphy Analytics is in any way related to the specific ratings or views contained in this research report.
Forward-Looking Statements
The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's anticipated filings with the Securities and Exchange Commission.
Source: China Voice Holding Corporation
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