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ANTX MEGA DD POST share structure 100mil A/S 67mil O/S float unknown but judging by the way it trades its under 10mil imo. Im posting straight facts from the companys website. ANTX is current with nevada SOS http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=1HrOXxvWQdHsxrr8iCOWBg%253d%253d&nt7=0
ANTX January 8, 2012
Dear Shareholder:
The third quarter of 2011 has been active for AcuNetX. There have been changes in management resulting in the resignation of Robert Corrigan in September. The Board assigned the Chairmanship to Chapin Hunt with his responsibility of identifying a new CEO and assumed that post.
New Sales were immediately implemented with an aggressive sales campaign and the hiring of a sales consultant which increased the monthly sales. Management has acquired a CE which means that our products conform with the European market allowing AcuNetX to sell in the European markets. AcuNetX is currently opening up markets in Ireland, Scotland and England and identifying new distributors.
Additionally, management has dramatically increased a customer service and repair program, which had been sorely lacking. The customer service program has resulted in new orders, increased sales and the signing of new distributors.
New technology is being instituted for the Company’s three products, which required needed updating. By the upgrade of the VNG, the Hawkeye and the Safety Scope, Management has increased pricing with more sales along with new markets becoming available.
The company has photographed each individual component and is producing a training manual and trouble-shooting guide for customers and distributors.
Management has reduced company expenses, and relocated the corporate administrative office to the Northern California Bay Area as all the administrative, legal and accounting services are in the Bay area.
While keeping the FDA approved facility in Torrance, Management has employed Jack Ferguson, a former Disney engineer and Navy Seal, who is upgrading the HawkEye and Safety Scope and is able to repair company products. The company is going to hire well trained engineers who are disabled war veterans from the two wars who will assist in servicing the company products. Mr. Ferguson is also preparing for the upcoming FDA inspection and backing up the Company’s main provider of VNGs s so there will be no lack of continuity.
In November and December two presentations were made to the Barrows Neurological Clinic with the Safety Scope for concussion investigation.
AcuNetX Hawkeye won the bid for the State of South Carolina and we have increasing HawkEye orders monthly.
Past management had failed to file 8K’s, 10 Q’s, and 10K’s, accurate financial statements and failed to keep the company in good standing with the Secretary of State in Nevada. Current management immediately reinstated the company’s standing with the Secretary of State of Nevada, filed an 8K, met with the company's former CPA, Alex Limbert, to retain records and hired a new book keeper, Corina Fortes to begin updating financials for the past 3 years.
The Company has hired a consultant to begin working with its Creditors this month.
During the past two years there was an ongoing discussion with the Cascade Company that had been announced a year ago. Subsequently Cascade had expressed an interest and made several proposals/offers to purchase all or parts of AcuNetX.
After several meetings with Cascade, the Board of AcuNetx could not recommend to the shareholders any of these proposals. The idea proposed would have sold all of AcuNetX assets, given up its office and production personnel and received a licensing fee/income which was never determined while AcuNetX would have kept all of the payables. This deal was a non starter as it was not in the best interest of AcuNetX.
On November 14th, 2011, The Board made the decision to cancel the November 17th, 2011 Shareholder meeting for reasons stated in the most recent letter sent to you. An impromptu meeting was called by several shareholders on November 17th 2011. At this telephonic occurrence several shareholders suggested a new slate of the Board of Directors consisting of former CEO, Ron Waldorf and his appointee, Wes Crenshaw.
At that meeting Steve Butler considered resigning from the Board and later did so that day in writing. Upon receipt of his written resignation, as the sole director, I appointed two new board members, Cathy Elliott Jones and Frank Card, not the suggested slate due to certain conflicts of interest.
There have been a minority number of shareholders who have attempted to perpetrate fraud on both the Board of Directors and the majority of shareholders who have been marginalized by this attempted take over. The interest of the perpetrators is not the best interest of the Company and is to serve their minority and personal interests. Legal counsel is handling this situation. Three of these shareholders are threatening to put the company into involuntary bankruptcy. As Chairman of the Board, his fiduciary duty is to the majority of shareholders. If there are any questions, please contact corporate counsel, Cathy Elliott Jones in writing. cjoneslaw@aol.com
The Chairman is actively managing the affairs of the Company today. Management will be sending out a monthly newsletter until the next Shareholder meeting which will be information only and is to be held in March 2012. At that time the activities of the company will be reviewed from past management to current activities including projections for the upcoming year and present the unveiling of the upgraded products for all to view. Financial statements will also be presented.
Pleased forward any inquiries to the company and any items you wish to discuss at the Shareholders meeting to me at: chapinhuntjr@pacificheightsholdings.com or Acunetx@gmail.com
Have a very Happy New Year,
Chapin Hunt Jr.,
Chairman of the Board/ CEO
ANTX Latest shareholder letter, at least CEO concerned with price of stock
February 2, 2012
Dear Shareholders:
The following is a report on the activities of AcuNetx. On December 8, 2011 the company had over 25 VNG orders that were set to be delivered by year end.
Management was confronted by Mr. Scott Auerbach, a purported shareholder and creditor and Mel Shadowens of MedTrak, also a shareholder and a distributor of VNGs. They advised that the company had allegedly defaulted in October on its prior agreement made with MedTrak and its past President Robert Corrigan. They produced a letter to be signed by the President
Mr. Shadowens and Mr Auerbach, direct beneficiaries of MedTrak and its successor MedTrak/VNG, stated that there was a default and if the letter was not signed confirming such default that day, that MedTrak would pull all it’s orders and would hire Mr Welk, Acunetx’s sole assembler, away from Acunetx crippling the company. . Mr Shadowens was informed that the agreement was subject to board approval and such approval the Board subsequently did not grant.
AcuNetx successfully continued to build and produce VNGs for the month of December and is doing so now but not for MedTrak
In late December it came to the attention of the Board that there have been certain activities that indicated alleged conspiracy, alleged collusion, alleged bribery and unauthorized access to accounts of AcuNetx by some shareholders, employees and distributors. The FBI was immediately contacted and an investigation has commenced. The Office of Criminal Investigations with the FDA is currently investigating the Company’s online account access. Access to anyone outside of AcuNetx has been terminated. The 510K status remains in the name IntelliNetx only.
Based on advice of counsel and the FBI disclosures must be kept to a minimum.
The FBI has commenced a forensic investigation of all company computers, emails and accounts. It is alleged that there have been communications that were kept from the company regarding very important documents, alleged mail fraud, alleged conspiracy, alleged collusion and alleged intent to knowingly fraudulently induce AcuNetx into an alleged fraudulent agreement.
On a positive note, the company is successfully producing and selling VNG’s, signed new distributors, and increased customer service. Repair orders have increased dramatically due to call back efforts of the company to past ignored calls from customers.
New contracts have been instituted with new and old vendors.
The company computer was stolen in March 2011 and was not reported to the Torrance Police department until September 2011. Company book keepers and accountants are working with the IRS so that the company may have proper adjusted financial reporting and is working towards a payment plan for the unpaid payroll taxes and unpaid State taxes incurred over the last two years.
AcuNetx appreciates your concern and patience as the Company continues with these sensitive investigations. Despite the transgressions of a few, the operations of the company has not been impacted and with new professional staff the company is cash flow profitable and debt removal is underway.
Jack Ferguson a 25 year veteran of Disney and Ray Alpern a 20 year veteran of Kodak have joined the company as production coordinators giving the company, for the first time in years, a professional approach to operations and meeting the needs of its customers which was sorely overlooked.
A follow up report will ensue which will provide positive results to all of the above as an indication of progress. As of today the stock of the company is up over 100% of last year’s ending value
Sincerely,
Chapin Hunt Jr.,
Chairman of the Board and CEO
ANTX new staff
FOR IMMEDIATE RELEASE
ACUNETX ANNOUNCES NEW HIRES IN TORRANCE, CA.
# # #
January 9, 2012 - Berkeley, CA - The Board of Directors of AcuNetX Inc. is excited to announce some new additions to our technical team in Torrance, CA.
Joining our engineering team is Mr. Jack Ferguson. Jack has many, many years of engineering experience, first as a member of the elite U.S. Navy Seals serving in Vietnam, and then over 25 years as an engineer for Disney Studios. Jack will be handling many different technical aspects of our VNG, HawkEye, and SafetyScope products, and is pleased to be part of our new team charged with updating and improving these products.
# # #
Also joining our team in the newly created position of Chief Technology Officer/Lead Engineer is Mr. Ray Alpern. Ray comes to us with over 30 years of experience as an imaging sciences engineer, most recently over 10 years as a Senior Photographic Engineer with the Kodak Professional division of the Eastman Kodak Company. Earlier in his career, Ray was a key member of the team in the engineering and design of one of the first ever applications of digital imaging in the medical industry, creating a system used for high-resolution photography through medical endoscopes which was distributed worldwide exclusively by Stryker Medical. As CTO Ray will be in charge of updating all of our technology, both product-related and administrative IT, to the current state-of-the-art. Ray will be reporting directly to our CEO, Mr. Chapin Hunt, Jr..
# # #
ABOUT ACUNETX
At AcuNetX (acunetx.com) and through our operating units, IntelliNetX, OrthoNetX, and VisioNetX, we design, manufacture and market products that make our highways safer and our lives happier and healthier. Our products are used by: Neurologists and Otolaryngologists to isolate the cause of a patient’s dizziness; reconstructive surgeons to correct bone deformities; and law enforcement officials to establish probable cause leading to the arrest of motorists’ suspected of being under the influence. We’ve been in business for more than twenty years and are an acknowledged leader in every field in which we have a presence. We are obsessed with quality and are constantly reinventing ourselves so that we can better serve our customers, big and small. We know that only by being supremely sensitive to our customers’ needs and the vagaries of the marketplace can we hope to achieve any kind of real or lasting success. It is AcuNetX’s goal to become the nation's pre-eminent supplier of tools that use the human eye to detect, measure and assess disorders that impair performance or degrade the quality of life. AcuNetX is a publicly traded company (ANTX).
Press Contact: Ms. Jocelyn Somers - (310) 328-0477
CEO Chapin Hunt jr is no joke here is some info
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=2&ved=0CDYQFjAB&url=http%3A%2F%2Fwww.pacificheightshotelgroup.com%2Fimages%2FChapin_hunt_Jr_Brochure_PHH.pdf&ei=mrRLT8rvEPDMiQKj97DdDQ&usg=AFQjCNFh1eNFGuLPLikAbH3UhDNuzi-5YA&sig2=TUASts3VC73YMKbitbRzUg
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&ved=0CC8QFjAA&url=http%3A%2F%2Fregenceholdings.com%2Fmanagers.html&ei=mrRLT8rvEPDMiQKj97DdDQ&usg=AFQjCNGdXk4fQJuPWLRk1l4zE5K_392W-A&sig2=3giuCVIu_C9ASah78ljfOA
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=6&ved=0CFQQFjAF&url=http%3A%2F%2Fpacificheightsholdings.com%2FOur_Team.html&ei=mrRLT8rvEPDMiQKj97DdDQ&usg=AFQjCNE7J2aBePhrzr4PoTsy__47Pi4F7w&sig2=I8CCupOBvj9HUnSAqc0tTA
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=34&ved=0CDYQFjADOB4&url=http%3A%2F%2Fwww.beverlyhillscc.com%2FDefault.aspx%3Fp%3DDynamicModule%26pageid%3D258840%26ssid%3D120698%26vnf%3D1&ei=GLVLT9rJGayPigKNyajaDQ&usg=AFQjCNE44gHAqYAk4eylRmwR6cb8N04hMQ&sig2=CKMxL6lK25P-QDj9SqFuWA
Not much under .01 I hope to add more soon
this is what i like from the recent shareholder letter AcuNetx appreciates your concern and patience as the Company continues with these sensitive investigations. Despite the transgressions of a few, the operations of the company has not been impacted and with new professional staff the company is cash flow profitable and debt removal is underway
Nope, that was my bid at .0025 though LOL mms kept them
Ha... somebody got 15,000 shs ($37.50 worth)! Was that you humbleboss?
I was on bid at .0015 which was the highest bid at the time for over a month andI got nothing. I finally grabbed all the .003s I could last week. Float is peanuts so I'm trying to get all I can at these levels.
Thanks for reply. Might want to get some shares now in anticipation of March shareholder news. Only problem is the bid and ask are miles apart and much lower than recent s/p. Wonder if any shares available between .0025 and .0050? Hmmmm?
(I know, ssssshhhhh is the word!)
I don't know for certain but, financials will be discussed in March at the shareholders meeting. So we will find out then.
Doing some DD. I know you wanna keep this quiet, but I have a question regarding the latest CEO shareholder letter. The CEO states, "On December 8, 2011 the company had over 25 VNG orders that were set to be delivered by year end."
Considering what has happened in the meantime, does anyone know if these were in fact delivered?
In hoping they are quite until March, in still trying to load more sub penny if possible
new contract, new employees. Let us hope for the best. A nice PR probably needed to wake up this stock.
ill be trying for more next week. life changer here imo
8-K out Mr hunt like to keep his shareholders informed
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: November 1, 2011
AcuNetx, Inc.
(Exact name of registrant as specified in its charter)
Nevada
0-27857
88-0249812
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
2301 W. 205 th Street, Suite 102
Torrance, CA 90501
(Address of principal executive offices)
The Company's telephone number, including area code: (310) 328-0477
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
?
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
?
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
?
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
?
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 8
—
Other Events
Item 8.01
Other Events (The registrant can use this Item to report events that are not specifically called for by Form 8-K, that the registrant considers to be of importance to security holders.)
On November 1, 2011, Chairman of the Board Chapin Hunt was locked out of the AcuNetx office located at 2301 W 205 th St Suite 102, Torrance, California by employee Emery Welk and former CEO consultant and Board Member, Steven Butler.
Mr. Hunt had terminated the consulting agreement between AcuNetx and Mr Butler on October 31, 2011. Mr. Butler refused Mr. Hunt entry to the company office and property and changed the locks on the doors.
Mr. Hunt continued conducting business and opened an administrative office at 567 Sutter St, San Francisco, Ca 94102. This included associate legal counsel, associate accounting, business and financial consultants. AcuNetx is also negotiating to lease alternative space in an approved FDA facility.
Mr. Welk and Mr. Butler opened an unauthorized Wells Fargo Bank and had a distributor divert funds to this account.Mr. Welk and Mr. Butler also used a Company Chase credit card and charged over $25,000 . Mr Butler paid himself, his lawyers and Mr Welk out of this unauthorized account.
AcuNetx Board of Directors resolved to change the AcuNetx ByLaws to reflect that shareholder vote to remove the Board Member of the company must be a total of 70% vote. Due to the alleged fraudulent attempt to remove the Board of Directors in November 2011, AcuNetx Board made this resolution.
AcuNetx Board of Directors also resolved that nay lawsuits filed after February 16 th 2012 must be filed in San Francisco, California as their administrative offices are located in San Francisco.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
AcuNetx, Inc.,
a Nevada corporation
By: /s/Chapin Hunt Jr
Chapin Hunt Jr, Chief Executive Officer
February 2, 2012
Many people bought yesterday because of the momo and sudden volume. Most of the volume was from me. I'm holding till financials and updates on contracts and working projects are announced. I believe this stock is worth over a dime IMO. Ill be adding allI can under a penny
hello all. Have been holding on to ANTX and waiting. But why no action today?
I would read the recent letters to shareholders
company is getting back on track dirt cheap here
ANTX share structure 100mil authorized and 67mil outstanding http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=1HrOXxvWQdHsxrr8iCOWBg%253d%253d&nt7=0
ANTX next huge runner GBTR type move imo
ANTX has a contact with the state of south Carolina huge $$$
Its going to run 1000% in the weeks and months ahead IMO
ANTX will run to multi pennies the company is to valuable
ANTX is highly undervalued and will be trading in the high penny range imo
ANTX new staff
FOR IMMEDIATE RELEASE
ACUNETX ANNOUNCES NEW HIRES IN TORRANCE, CA.
# # #
January 9, 2012 - Berkeley, CA - The Board of Directors of AcuNetX Inc. is excited to announce some new additions to our technical team in Torrance, CA.
Joining our engineering team is Mr. Jack Ferguson. Jack has many, many years of engineering experience, first as a member of the elite U.S. Navy Seals serving in Vietnam, and then over 25 years as an engineer for Disney Studios. Jack will be handling many different technical aspects of our VNG, HawkEye, and SafetyScope products, and is pleased to be part of our new team charged with updating and improving these products.
# # #
Also joining our team in the newly created position of Chief Technology Officer/Lead Engineer is Mr. Ray Alpern. Ray comes to us with over 30 years of experience as an imaging sciences engineer, most recently over 10 years as a Senior Photographic Engineer with the Kodak Professional division of the Eastman Kodak Company. Earlier in his career, Ray was a key member of the team in the engineering and design of one of the first ever applications of digital imaging in the medical industry, creating a system used for high-resolution photography through medical endoscopes which was distributed worldwide exclusively by Stryker Medical. As CTO Ray will be in charge of updating all of our technology, both product-related and administrative IT, to the current state-of-the-art. Ray will be reporting directly to our CEO, Mr. Chapin Hunt, Jr..
# # #
ABOUT ACUNETX
At AcuNetX (acunetx.com) and through our operating units, IntelliNetX, OrthoNetX, and VisioNetX, we design, manufacture and market products that make our highways safer and our lives happier and healthier. Our products are used by: Neurologists and Otolaryngologists to isolate the cause of a patient’s dizziness; reconstructive surgeons to correct bone deformities; and law enforcement officials to establish probable cause leading to the arrest of motorists’ suspected of being under the influence. We’ve been in business for more than twenty years and are an acknowledged leader in every field in which we have a presence. We are obsessed with quality and are constantly reinventing ourselves so that we can better serve our customers, big and small. We know that only by being supremely sensitive to our customers’ needs and the vagaries of the marketplace can we hope to achieve any kind of real or lasting success. It is AcuNetX’s goal to become the nation's pre-eminent supplier of tools that use the human eye to detect, measure and assess disorders that impair performance or degrade the quality of life. AcuNetX is a publicly traded company (ANTX).
Press Contact: Ms. Jocelyn Somers - (310) 328-0477
ANTX January 8, 2012
Dear Shareholder:
The third quarter of 2011 has been active for AcuNetX. There have been changes in management resulting in the resignation of Robert Corrigan in September. The Board assigned the Chairmanship to Chapin Hunt with his responsibility of identifying a new CEO and assumed that post.
New Sales were immediately implemented with an aggressive sales campaign and the hiring of a sales consultant which increased the monthly sales. Management has acquired a CE which means that our products conform with the European market allowing AcuNetX to sell in the European markets. AcuNetX is currently opening up markets in Ireland, Scotland and England and identifying new distributors.
Additionally, management has dramatically increased a customer service and repair program, which had been sorely lacking. The customer service program has resulted in new orders, increased sales and the signing of new distributors.
New technology is being instituted for the Company’s three products, which required needed updating. By the upgrade of the VNG, the Hawkeye and the Safety Scope, Management has increased pricing with more sales along with new markets becoming available.
The company has photographed each individual component and is producing a training manual and trouble-shooting guide for customers and distributors.
Management has reduced company expenses, and relocated the corporate administrative office to the Northern California Bay Area as all the administrative, legal and accounting services are in the Bay area.
While keeping the FDA approved facility in Torrance, Management has employed Jack Ferguson, a former Disney engineer and Navy Seal, who is upgrading the HawkEye and Safety Scope and is able to repair company products. The company is going to hire well trained engineers who are disabled war veterans from the two wars who will assist in servicing the company products. Mr. Ferguson is also preparing for the upcoming FDA inspection and backing up the Company’s main provider of VNGs s so there will be no lack of continuity.
In November and December two presentations were made to the Barrows Neurological Clinic with the Safety Scope for concussion investigation.
AcuNetX Hawkeye won the bid for the State of South Carolina and we have increasing HawkEye orders monthly.
Past management had failed to file 8K’s, 10 Q’s, and 10K’s, accurate financial statements and failed to keep the company in good standing with the Secretary of State in Nevada. Current management immediately reinstated the company’s standing with the Secretary of State of Nevada, filed an 8K, met with the company's former CPA, Alex Limbert, to retain records and hired a new book keeper, Corina Fortes to begin updating financials for the past 3 years.
The Company has hired a consultant to begin working with its Creditors this month.
During the past two years there was an ongoing discussion with the Cascade Company that had been announced a year ago. Subsequently Cascade had expressed an interest and made several proposals/offers to purchase all or parts of AcuNetX.
After several meetings with Cascade, the Board of AcuNetx could not recommend to the shareholders any of these proposals. The idea proposed would have sold all of AcuNetX assets, given up its office and production personnel and received a licensing fee/income which was never determined while AcuNetX would have kept all of the payables. This deal was a non starter as it was not in the best interest of AcuNetX.
On November 14th, 2011, The Board made the decision to cancel the November 17th, 2011 Shareholder meeting for reasons stated in the most recent letter sent to you. An impromptu meeting was called by several shareholders on November 17th 2011. At this telephonic occurrence several shareholders suggested a new slate of the Board of Directors consisting of former CEO, Ron Waldorf and his appointee, Wes Crenshaw.
At that meeting Steve Butler considered resigning from the Board and later did so that day in writing. Upon receipt of his written resignation, as the sole director, I appointed two new board members, Cathy Elliott Jones and Frank Card, not the suggested slate due to certain conflicts of interest.
There have been a minority number of shareholders who have attempted to perpetrate fraud on both the Board of Directors and the majority of shareholders who have been marginalized by this attempted take over. The interest of the perpetrators is not the best interest of the Company and is to serve their minority and personal interests. Legal counsel is handling this situation. Three of these shareholders are threatening to put the company into involuntary bankruptcy. As Chairman of the Board, his fiduciary duty is to the majority of shareholders. If there are any questions, please contact corporate counsel, Cathy Elliott Jones in writing. cjoneslaw@aol.com
The Chairman is actively managing the affairs of the Company today. Management will be sending out a monthly newsletter until the next Shareholder meeting which will be information only and is to be held in March 2012. At that time the activities of the company will be reviewed from past management to current activities including projections for the upcoming year and present the unveiling of the upgraded products for all to view. Financial statements will also be presented.
Pleased forward any inquiries to the company and any items you wish to discuss at the Shareholders meeting to me at: chapinhuntjr@pacificheightsholdings.com or Acunetx@gmail.com
Have a very Happy New Year,
Chapin Hunt Jr.,
Chairman of the Board/ CEO
ANTX Latest shareholder letter, at least CEO concerned with price of stock
February 2, 2012
Dear Shareholders:
The following is a report on the activities of AcuNetx. On December 8, 2011 the company had over 25 VNG orders that were set to be delivered by year end.
Management was confronted by Mr. Scott Auerbach, a purported shareholder and creditor and Mel Shadowens of MedTrak, also a shareholder and a distributor of VNGs. They advised that the company had allegedly defaulted in October on its prior agreement made with MedTrak and its past President Robert Corrigan. They produced a letter to be signed by the President
Mr. Shadowens and Mr Auerbach, direct beneficiaries of MedTrak and its successor MedTrak/VNG, stated that there was a default and if the letter was not signed confirming such default that day, that MedTrak would pull all it’s orders and would hire Mr Welk, Acunetx’s sole assembler, away from Acunetx crippling the company. . Mr Shadowens was informed that the agreement was subject to board approval and such approval the Board subsequently did not grant.
AcuNetx successfully continued to build and produce VNGs for the month of December and is doing so now but not for MedTrak
In late December it came to the attention of the Board that there have been certain activities that indicated alleged conspiracy, alleged collusion, alleged bribery and unauthorized access to accounts of AcuNetx by some shareholders, employees and distributors. The FBI was immediately contacted and an investigation has commenced. The Office of Criminal Investigations with the FDA is currently investigating the Company’s online account access. Access to anyone outside of AcuNetx has been terminated. The 510K status remains in the name IntelliNetx only.
Based on advice of counsel and the FBI disclosures must be kept to a minimum.
The FBI has commenced a forensic investigation of all company computers, emails and accounts. It is alleged that there have been communications that were kept from the company regarding very important documents, alleged mail fraud, alleged conspiracy, alleged collusion and alleged intent to knowingly fraudulently induce AcuNetx into an alleged fraudulent agreement.
On a positive note, the company is successfully producing and selling VNG’s, signed new distributors, and increased customer service. Repair orders have increased dramatically due to call back efforts of the company to past ignored calls from customers.
New contracts have been instituted with new and old vendors.
The company computer was stolen in March 2011 and was not reported to the Torrance Police department until September 2011. Company book keepers and accountants are working with the IRS so that the company may have proper adjusted financial reporting and is working towards a payment plan for the unpaid payroll taxes and unpaid State taxes incurred over the last two years.
AcuNetx appreciates your concern and patience as the Company continues with these sensitive investigations. Despite the transgressions of a few, the operations of the company has not been impacted and with new professional staff the company is cash flow profitable and debt removal is underway.
Jack Ferguson a 25 year veteran of Disney and Ray Alpern a 20 year veteran of Kodak have joined the company as production coordinators giving the company, for the first time in years, a professional approach to operations and meeting the needs of its customers which was sorely overlooked.
A follow up report will ensue which will provide positive results to all of the above as an indication of progress. As of today the stock of the company is up over 100% of last year’s ending value
Sincerely,
Chapin Hunt Jr.,
Chairman of the Board and CEO
67mil O/S
just picked some up today
This is going to be an interesting little stock play. Pretty speculative, but a chance for a three, or four-bagger from these levels.
epicstockpicks.com says ...adjusted PPS around .13
ANTX (AcuNetx Inc) is an Acquisition
Target for CSDT and is ON ALERT NOW!
Hello All,
While doing some DD and scanning this morning, we came across what we believe can be an exceptional play!
ANTX (AcuNetX Inc) is a fully reporting company that trades currently at .011x.02! Company Website: http://www.acunetx.com/
Market Value: $542,937 a/o Nov 10, 2010
Shares Outstanding: 67,029,309 a/o Aug 23, 2010
ANTX is currently an acquisition target as Cascade Technologies Corp. (OTCQB: CSDT) has entered into a Letter of Intent to acquire their assets!
This news, while very big for the companies involved, went somewhat unnoticed by the greater financial community...until now!
Simple calculations puts the adjusted PPS around .13, if ANTX shares remained the same, and combined market caps with CSDT, currently at .042....Pure speculation, but it's nice to see the whole picture.
Epicstockpicks.com owns no shares or positions of ANTX.
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Cascade Technologies Corp. (OTCBB: CSDT) announced today that it has entered into a non-binding letter of intent to acquire all of the assets of AcuNetx, Inc., a Nevada corporation (Other OTC: ANTX.PK) in exchange for common stock of Cascade.
"What appears attractive to us," explained Dr. Daniel Farkas, "is that AcuNetx designs, manufactures and markets products that utilize non-invasive optical imaging of the eye for assessing important body functionality ranging from balance testing to fitness for duty to law enforcement. These products may complement the proprietary products we have under current development."
“is that AcuNetx designs, manufactures and markets products that utilize non-invasive optical imaging of the eye for assessing important body functionality ranging from balance testing to fitness for duty to law enforcement. These products may complement the proprietary products we have under current development.”
Completion of this proposed transaction is subject to numerous conditions including, without limitation, further due diligence, receiving shareholder and regulatory approvals, and negotiating and entering into a definitive assets purchase agreement. No assurance can be given that this proposed transaction will be consummated.
About AcuNetx
As presented in filings with the United States Securities and Exchange Commission, AcuNetx, Inc., a Nevada corporation, and its subsidiaries OrthoNetx Inc. and VisioNetx Inc., combine diagnostic, analytical and therapeutic devices with proprietary software to permit health providers to diagnose and treat balance disorders and various bone deficiencies; law enforcement officers to evaluate roadside sobriety; and employers in high-risk industries to determine, in real-time, the mental fitness of their employees to perform mission-critical tasks. AcuNetx is headquartered in Torrance, California.
AcuNetx products or products under development include: (a) Neurological diagnostic equipment that measure, track and record human eye movements, utilizing the company’s proprietary technology and computer software, as a method to diagnose problems of the vestibular (balance) system and other balance disorders; (b) Devices designed to test individuals for impaired performance resulting from the influences of alcohol, drugs, illness, stress and other factors that affect eye and pupil performance. These products target the occupational safety and law enforcement markets; (c) Orthopedic and craniomaxillofacial (skull and jaw) surgery products, which generate new bone through the process of distraction osteogenesis; and (d) A proprietary information technology system called SmartDevice-Connect™ (“SDC”) that establishes product registry to individual patients and tracks device behavior for post-market surveillance, adverse event and outcomes reporting, and creates “smart devices” that gather and transmit physiological data concerning the device and its interaction with patients.
About Cascade Technologies Corp.
Cascade Technologies Corp., through its wholly owned subsidiary Spectral Molecular Imaging, Inc., is a development-stage, medical imaging device company, applying its proprietary hyperspectral-optical imaging technology—originally developed for satellite reconnaissance—to advance the early and accurate diagnoses of cancer and precancerous conditions. SMI is developing non-invasive imaging systems using its patented technology and other proprietary know-how for improved clinical diagnostics, primarily in the field of cancer pathology. SMI’s devices utilize high-resolution imaging, identification, and analysis of certain molecular, cellular, and tissue features via patented spectral imaging approaches. We expect to provide services related to our primary products, including software modules and maintenance services, and to develop optical diagnostic products that operate in conjunction with surgical and/or evaluation procedures in real time. We believe that our technology will enable early detection and more reliable diagnosis of various diseases, such as melanoma, Barrett’s esophagus (a condition caused by chronic acid reflux that can lead to esophageal cancer) and lung cancer. We expect that medical devices using or based on our developed technology can significantly improve long-term patient outcomes and may substantially reduce overall costs for the healthcare system. For more information, please visit http://www.spectralmi.com.
ANTX is on ALERT - NOW! Remember this is a DD-driven, Speculative, Momentum report. Do not forget your trading rules!
www.epicstockpicks.com
It would appear. LOL
the action has begun...lol
This one loooooks soo tempting. Looks like others are picking up on this one also as it is up 97% today.
What is your opinion on this? ANTX going to get an update themselves regarding this? Only see it as an 8-K with CSDT. I am keeping my eye here and it seems that some action could ensue at some point based on the speculation here.
Cascade Technologies plans takeover of AcuNetx
November 2, 2010 by MassDevice staff
Cascade Technologies gets ready for another stock-swap acquisition, this time for optical imaging firm AccuNetx.
SMI, AcuNetx logos
Cascade Technologies Corp. (OTC:CSDT) is planning to purchase Torrance, Calif.-based optical imaging firm AcuNetx Inc. (OTC:ANTX) in a stock swap.
Calgary, Canada-based Cascade said it entered into a letter of intent to acquire all of AcuNetx's assets in exchange for common stock.
Cascade has been increasing its holdings in the medical imaging device industry, acquiring Beverly Hills, Calif.-based Spectral Molecular Imaging Inc. in another stock swap in March. Cascade conducts its imaging business through SMI, which is developing non-invasive imaging systems for the early diagnosis of cancer.
"What appears attractive to us, is that AcuNetx designs, manufactures and markets products that utilize non-invasive optical imaging of the eye for assessing important body functionality ranging from balance testing to fitness for duty to law enforcement. These products may complement the proprietary products we have under current development," SMI CEO Daniel Farkas said at the time.
SMI marked its growth in early October with the appointment of Sam Raz as vice president for international business development.
In addition to regulatory approval, the nascent deal is still subject to Cascade's own due diligence and the approval of AcuNetx's shareholders, according to Cascade.
Cascade Technologies to acquire devicemaker
By Joseph Conn
Cascade Technologies Corp., Beverly Hills., Calif., a developer of diagnostic imaging systems technology, will acquire the assets of AcuNetx, Torrance, Calif., a developer of tools and systems to detect balance disorders as well as software systems to track post-market surveillance of medical devices for adverse events and outcomes reporting, according to a Cascade news release.
Cascade will offer common stock in exchange for the assets of AcuNetx. The number of shares to be exchanged and the estimated price of the offer were undisclosed.
According to the company statement, the deal is subject to further due diligence, receipt of shareholder and regulatory approvals, and negotiations of a final purchase agreement.
AMENDMENT NO.1 TO FORM 10-K Filed
EXPLANATORY NOTE
On August 3, 2010 AcuNetx, Inc. received a letter from the Securities and Exchange Commission (the "SEC") regarding our Form 10-K for the year ended December 31, 2009. We have responded to the SEC's comments to our Form 10-K (the "Original Report") in this Amendment No. 1 (the "Amendment"). The purpose of the Amendment is to amend and restate Item 9A, Controls and Procedures, in its entirety.
The disclosures in this Amendment continue to speak as of the date of the Original Report, and do not reflect events occurring after the filing of the Original Report, except as specifically noted. Accordingly, this Amendment should be read in conjunction with our other filings made with the Securities and Exchange Commission subsequent to the filing of the Original Report, including any amendments to those filings. The filing of this Amendment shall not be deemed to be an admission that the Original Report, when made, included any untrue statement of a material fact or omitted to state a material fact necessary to make a statement not misleading.
The aggregate market value of the voting common equity held by nonaffiliates of the registrant, computed by reference to the closing sale price of such stock, was approximately $936,129 as of June 30, 2009, the last business day of the registrant’s most recently completed second fiscal quarter. The registrant has no non-voting common equity.
As of March 19, 2010, there were 65,429,309 shares of Common Stock of the issuer outstanding.
AcuNetx Announces Change in Trading Status
9:15 am ET 09/03/2010 - PR Newswire
TORRANCE, Calif., Sept. 3 /PRNewswire/ -- AcuNetx, Inc. (OTC Bulletin Board: ANTXE) today announced that it had received a communication from the Financial Industry Regulatory Authority (FINRA) to the effect that its Common Stock would be removed from quotation on the OTC Bulletin Board on September 3, 2010.
The letter indicated that FINRA took the action because AcuNetx has been delinquent in its filings under the Exchange Act three times in the past two years, and NASD Rule 6530 provides for removal from quotation in this instance. AcuNetx has the right to appeal the decision, and is considering whether to file such an appeal.
Robert S. Corrigan, President of AcuNetx, said, "We plan to continue filing reports and financial statements with the SEC, and we expect that our stock will continue to be quoted and traded in the over-the counter market (Pink Sheets)." He added, "Accordingly, we believe this action will not have any effect on our shareholders, and should have no effect on the liquidity of our Common Stock."
Corrigan explained that AcuNetx had timely filed its 10-Q for the quarter ended June 30, 2010. However, since AcuNetx had earlier dismissed its independent certified public accountants and has not engaged new accountants, the financial statements in the 10-Q were not reviewed by outside accountants, as contemplated by SEC accounting rules. FINRA took the position that, because of this, the filing was deficient.
"We are actively interviewing accounting firms, and plan to retain a new firm in the coming weeks," said Corrigan. "Once retained, we will ask the new accountants to review our current 10-Q filings and amend them if necessary."
About AcuNetx, Inc.:
AcuNetx markets a diverse line of diagnostic, analytical and therapeutic tools for medical (audiologists, neurologists, otolaryngologists and physical therapists as well as hospitals, clinics, and extended care facilities) and law enforcement applications. R&D applications include patent-pending technology for the physiological detection of deception (polygraph). AcuNetx is headquartered in Torrance, CA. For more information concerning AcuNetx and its subsidiaries, please visit www.acunetx.com.
Safe Harbor for Forward Looking Statements:
This news release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representations to be accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
FOR FURTHER INFORMATION CONTACT:
Name: Robert Corrigan
E-Mail: rscorrigan@acunetx.com
SOURCE AcuNetx, Inc.
Cash Flow from Operations Turns POSITIVE for AcuNetx's Twelve Months
09/08/2010
New York, NY, September 8, 2010-CFFO-NEWS reports that Cash Flow from Operations (CFFO) for AcuNetx, Inc. (OTC:ANTX.E) for its twelve months ended June 30, 2010 was a positive $14,973, compared with a negative Cash Flow from Operations of $(64,852) for the comparable year earlier twelve months. Cash Flow from Operations for the most recent twelve months also reached a four year high.
For AcuNetx's quarter ended June 30, 2010 Cash Flow from Operations was $16,845, compared with $2,611, a 545% increase over the comparable year earlier quarter. Cash Flow from Operations for the most recent quarter also reached a four year high.
The shares of AcuNetx were recently trading at $0.01.
CFFO-NEWS utilizes a line item which is labeled as “Operating Cash Flow”, “Cash Flow From Operations” or “CFFO”, which can be found within a company’s Cash Flow Statement to calculate Cash Flow From Operations. The Cash Flow Statement is filed with the Securities & Exchange Commission on a quarterly basis.
CFFO or Cash Flow From Operations is a much better leading indicator than Earnings or Net Income because the Cash Flow Statement reconciles Balance Sheet Data such as Receivables, Inventories and Payables. Each of these items can have a significant impact on a company’s cash position while a company’s earnings, ebitda or net income include non-cash profits and losses.
CFFO-NEWS monitors and publishes quarterly updates on Cash Flow From Operations for over 8,000 publicly traded U.S. companies. It also follows and publishes articles and reports on 216 industry groups. CFFO-NEWS’ company news, industry news and archives are available at www.StockTrendNews.com.
Copyright 2010 StockTrendNews.com
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