InvestorsHub Logo
Followers 217
Posts 15885
Boards Moderated 7
Alias Born 06/02/2007

Re: Sam Dan post# 102574

Friday, 03/09/2012 10:44:54 AM

Friday, March 09, 2012 10:44:54 AM

Post# of 103302
"But I am told by lawyers it implies there in NO criminal problems!!"

In which case you need new lawyers.


The withdrawal of the Registration Form- and all the associated filings, including the "audited" accounts- seems to have been prompted by questions from the SEC:

"The Company is in the process of responding to comments made by the Commission staff in its letter dated February 7, 2012, and has not yet finalized its 2011 year-end audit, which is required to be filed pursuant to Rule 8-08(b) of Regulation S-X.

The Company intends to file a replacement Registration Statement on Form 10 with the Commission once the Company is able to adequately respond to the Commission staff’s comments."


http://www.sec.gov/Archives/edgar/data/1538492/000114420412013780/v304895_rw.htm

There is no indication in this withdrawal whatsoever that there are "NO criminal problems" - if anything there's a strong suggestion that SEC have asked some tough questions that LLEG simply can't answer.

I find it literally incredible that any lawyer would have made such a clearly erroneous statement.

"It is difficult to get a man to understand something, when his salary depends upon his not understanding it."

Upton Sinclair

"Nobody ever went broke underestimating the intelligence of the American public."

H. L. Mencken

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.