This is Old News, the reverse merger happened in 2009. Why do you have a 5/5/14 date on your post? The SEC is usually late to the table and the case is already closed. The conclusion was that it had nothing to do with the companies including GPRC. The traders committed the fraud, not GPRC or CALI.
"The SEC’s complaint charges Kelley, Tazbaz, Lockhart, Agriogianis, and Becker with violating the antifraud, securities registration, and securities ownership reporting provisions of the federal securities laws. Becker is charged with violating the antifraud and securities registration provisions. Kelley and Becker also are charged with violating the broker-dealer registration provisions. The SEC’s complaint seeks disgorgement of ill-gotten gains plus prejudgment interest and financial penalties as well as penny stock bars.
In the settlements, Kelley agreed to pay disgorgement of $2,828,353.53, prejudgment interest of $560,812.47, and penalty of $2,828,353.53. Lockhart agreed to pay disgorgement of $1,819,211.77, prejudgment interest of $332,268.15, and a penalty of $1 million. Lockhart also consented to a bar from participation in any penny stock offering. Agriogianis entered into a cooperation agreement with the SEC under terms that reflect his assistance in the investigation and anticipated cooperation in the pending litigation. Agriogianis agreed to a penny stock bar, and financial sanctions will be determined by the court at a later date upon the SEC’s motion. Kelley, Lockhart, and Agriogianis consented to the entry of final judgments including permanent injunctions without admitting or denying the allegations. The settlements are subject to court approval.
The SEC’s investigation was conducted by Jennifer A. Ostrom and Kurt L. Gottschall in the Denver office. The SEC’s litigation will be led by Leslie J. Hughes and Nicholas Heinke. The SEC appreciates the assistance of the Ontario Securities Commission."
