Read the reason why JH Darby and Capital Growth crushed Sytner.
The DTCC is using these shares issued as part of their "cover".
The company settled by issuing legit shares to cover what was passed thru those 2 broker dealers. Sytner was tagged and bagged for helping Pino and Co issue and dump those shares...and specifically not monitoring Pino and Pam's actions.
That's something people forget. Settled. The word is important for legal issues.
If Megas felt he was duped or the terms of the settlement were violated, he could have gone to court and had the settlement thrown out.
Notice not one attorney has even tried this? That is the only legal way those shares could be invalidated.
On January 11, 2006, in accordance with a Settlement Agreement relating to a lawsuit brought by us against certain parties, the Company issued 269,773,000 shares of the Company’s common stock. The lawsuit and resulting Settlement Agreement are discussed under “Legal Proceedings.” These shares were issued in accordance with the registration exemption afforded under Section 3(a)(10) of the Securities Act of 1933.
The DTCC has those shares and do not have to swap for a new CUSIP on a revoked stock.
269 Million ended up issued but at the time, 328 Million sold and held via the DTC records. Not counting post lock trades outside the DTC.
Kind of shocked even Todd never challenged the settled shares or even challenged the original revocation by email. That's a violation of one's legal rights to a fair hearing. If Megas had his rights to a fair hearing violated, the original revocation order could be challenged and thrown out forcing the SEC to do it again legally.
