Cemtrex Inc (CETX)

[236T568]

Well said

worth another read

it appears that CETX and its management is cooked

Aron Govil is looking at more than a fine

Why would he set up an undisclosed front company to promote CETX stock while the company is floating a preferred stock offering???

https://www.sec.gov/Archives/edgar/data/1435064/000149315216015696/forms-1a.htm

Quote:
In the event that there are unsubscribed units in this rights offering, Aron Govil, our Executive Director, through Ducon Technologies, Inc., a company which he controls, has indicated to us that he may purchase up to approximately $3.3 million of units during the 45-day placement period following the expiration of the rights offering through the conversion into units of a note payable by us to Ducon Technologies in a like amount. This note was issued to Ducon Technologies to partially fund our acquisition of Periscope, GmbH in May 2016. All units sold to Ducon Technologies, if any, will be at the same price and on the same terms as purchasers in the rights offering.

Quote:

Price Stabilization, Short Positions

No person has been authorized by our company to engage in any form of price stabilization in connection with this rights offering.