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Sitting on a Fort Wayne server, with a few other interesting companies Renee
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68591060
GENG : Revoked .
please delete/ignore my prior post. Website is up running again.
Company took down the corporate website
http://www.globalenergygroupinc.com/
So, how are they going to update their "shareholders" (lol)
Natural:
Noted and thank you. My apologize if i was wrong..
MS
I didn't say you was lying, I said you was lied to by management as
a) they did not come out with an update (as they indicated in your conversation)
b) resolving an issue requires more than to consent "Without admitting or denying the findings in the Order.." as the SEC report indicated.
Just and independent reviewer here, I don't think he called you a liar. He said you were lied to. A lot of people edgy after this mess.
Natural:
Don't tell me that i am a lying. I was informed that Management is working to resolve the problem and i post a note. I am also frozen with some shares and have to be in standby and development any legal suite cost me more money as i have Share Value in my deposit.
Best
MS
guess you was lied to...
i am confused as well
Obviously, company messed this up big time. Even worse, they don't even show the courage to communicate with shareholders. Poor management, poor ethics! I hope justice will prevail in a class action.
On a different note, may a de-registered security regain good standards ever again should the necessary filings be completed? And what will happen to de-registered securities in a portfolio? Will the shares remain or be cleared?
...which to me sounds entirely different from
Commission Revokes Registration of Securities of Global Energy Group, Inc. for Failure to Make Required Periodic Filings
On May 6, 2011, the Commission revoked the registration of each class of registered securities of Global Energy Group, Inc. (GENG) 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, GENG 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 Global Energy Group, 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 GENG’s securities pursuant to Section 12(j) of the Exchange Act. This Order settled the charges brought against GENG in In the Matter of Circuit Systems, Inc., et al., Administrative Proceeding File No. 3-14316.
http://www.sec.gov/news/digest/2011/dig050611.htm
Did the company asked to be revoked?
http://www.sec.gov/litigation/admin/2011/34-64416.pdf
The Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors to accept the Offer of Settlement submitted by Global Energy Group, Inc. (“GENG” or “Respondent”) pursuant to Rule 240(a) of the Rules of Practice of the Commission, 17 C.F.R. § 201.240(a), for the purpose of settlement of these proceedings initiated against Respondent on April 4, 2011, pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange Act”).
then at the bottom it says....
In view of the foregoing, the Commission deems it necessary and appropriate for the protection of investors to impose the sanction specified in Respondent’s Offer.
Accordingly, it is hereby ORDERED that:
Pursuant to Section 12(j) of the Exchange Act, the registration of each class of Respondent’s securities registered pursuant to Exchange Act Section 12 be, and hereby is, revoked.
For the Commission, by its Secretary, pursuant to delegated authority.
Elizabeth M. Murphy
I am a bit perplex here. So, they stopped the revocation?
as the Commission has approved its Offer of Settlement.
The proceeding has been stayed as to Global Energy Group, Inc., as the Commission has approved its Offer of Settlement. (Rel. 34-64417; File No. 3-14316)
check it out they settled. ENFORCEMENT PROCEEDINGS - In the Matter of Circuit Systems, Inc.
1 hours 35 minutes ago - FGI via Comtex
FIND Government Press ReleasesAn Administrative Law Judge has issued an Order Making Findings and Revoking Registrations by Default as to Four Respondents (Default Order) in Circuit Systems, Inc., Admin. Proc. No. 3-14316. The Order Instituting Proceedings alleged that five Respondents repeatedly failed to file required annual and quarterly reports while their securities were registered with the Securities and Exchange Commission (Commission).
The Default Order finds these allegations to be true as to four Respondents and revokes the registrations of each class of registered securities of Circuit Systems, Inc., Integrated Medical Resources, Inc., iNTELEFILM Corp., and LOT$OFF Corp., pursuant to Section 12(j) of the Securities Exchange Act of 1934. The proceeding has been stayed as to Global Energy Group, Inc., as the Commission has approved its Offer of Settlement. (Rel. 34-64417; File No. 3-14316)
i will take names and phone numbers in my email lipppaul@yahoo.com
if your interested please let me know.
thank you
If others also join in, a class action may be the right thing to do. Anyone interested should let the board know.
How can we get organized in a secure and private environment?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62824635
I hope you guys hear soon. This really unfortunate (like to use more explicit words) for those here who have a lot invested. I was lucky I had most of my damage control done. Still have quite of few shares that would hate to see be worth nothing. Good luck to all invested, lets hope the company has some scruples.
Yes i am still positive to hear back from the company management. Takes maybe a view more days as planned.
Are you still positive we will hear back from the company this week?
wow, thats pretty interesting, good info to pass to the atty.
this guy has a remarkable attention to detail
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62722802
Hope the company is looking for a new legal counsel to get them out of this mess!
S.O.S.!
Mayday, Mayday! S.O.S.!
Save Our Stock!...and Souls!
I am contacting an attorney today.
I hope so I would much rather lose money on a stock that actively trades. Atleast then u have a stop loss.
Who knows, there may be life in the old dog yet.
Huh, I would be suprised.
Natural:
I know their Intention to be back traded on the Market is very seriously.
I make also my verification and i think that some Filling was not done on time and therefore they got the suspension.
We will hear from them by next week.
Have a good weekend
MS[img][/img]
Interesting. Thanks!
I had a short conversation with them and i was told that they are working to fix the problem and that we can expect some updates in the next week.
MS
we need to start seriously looking into a class action. we just need a lawyer to contact who would u suggest NBI?
No pr no filings next step is the sec will revoke.
It's a shame that investors are last-to-know when problems occur, but first-to-ask when funds are needed...
Will be interesting to see what will happen to their "first main asset, a wholly owned subsidiary with alternative energy projects worldwide." when the stock remains suspended. Ownership rights are still with shareholders...
no word from management. No word from SEC. No word from legal counsel.
I am speechless also...
looks that way
Looks like we both are the only people left here anyways...
Let's see if there is any good coming out of Monday. The temporary trading suspension comes to an end officially. Will be interested to see if the stock will trade normal again, though I have my doubts. In any case, I expect, no demand, a shareholder update.
The shareholder base of this company is apparently very thin, but is someone considering a class action?
I guess we will know something more at 12pm this afternoon...it ain't going to be good I am afraid!
Dang!
Maybe acting for our international subsidiary? lol
No. She couldn't speak english
and was the Chinese Lady part of the company?
I don't think it will ever trade again anyway. No response when I called the lawyer or ir and the companies phone I got some chinese lady. Lesson learned.
Spot on! I thought we have some new management interested in building shareholder trust as a formation for a re-newed business. Appears this is not the case anymore.
Sad thing about this stock is the longer they wait, the larger the mass of dumping will occur if this is ever able to trade again.
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Global Energy Group, Inc. is a holdings company with a focus in renewable and alternative energies and solutions. We are an OTC publicly traded company (GENG) with wholly-owned subsidiaries and ventures focused in green energy projects worldwide with a mission toward cost-efficiency, economic development and minimizing overall carbon outlay for a clean, green and industrious planet.
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