Clean Energy & Power, Inc. (fka KEPI)

[chasingpennies]

I have no comment. Except u can't even trade this one anymore. I am sure someone will get some underwriting and buy this shell for a few k and make a fortune just like the last guy.

[getthere]

Where did these guys go? Did they change their name, or is this just a shell now?

[crystal clear]

oh, you mean those "fluff photos" released by D. Shen, claiming those solar farms were KEPI's?! ROFLOL!!! Couldn't believe some believe that - there's all kinds of deceit down here in the scam sales.

[mgccrx]

The last laugh has been had, and not by the con-artists at Clean Energy and Power! I wonder whos going to reap the rewards of the dozens, perhaps hundreds, of dollars rolling in yearly from the bohemian solar fields? LMAO!!!

[crystal clear]

ROFL!! - that was too funny.

[kennypooh]

Basher! LOL

[crystal clear]

you're right they did - now all power has been permanently turned off.

[Drugdoctor]

They turned out the lights a few months back...

[crystal clear]

THE END

[norkel]

thanks
:)

[Drugdoctor]

Well, ALL public companies must comply with the SEC stock reporting rules... pinkies and all eventually must file, or risk revoking the registration. Problem is... enforcement is very hit or miss, should be consistent, imo.

[norkel]

i thought if its PINK then no need to file??

on a side note ....u know anthing about irbl ? real company real products, still revoked on NVSOS ...but daily trades of 50911, 5911, 911 ...very strange.....if theres a sell ..its quickly followed by a 50911 trade . it used to trade at .50
i guess managenent dont care imo.
BUT< for the first time in year(s) an updaate on their website on March 16/2011 stating NEWS COMING SOON .

[norkel]

i thought if its PINK then no need to file?

thanks

[Drugdoctor]

I. BACKGROUND
The Commission initiated this proceeding on January 27, 2011, with an Order Instituting Proceedings (OIP), pursuant to Section 12(j) of the Securities Exchange Act of 1934 (Exchange Act). The OIP alleges that Clean Energy is a corporation with a class of securities registered with the Commission pursuant to Section 12(g) of the Exchange Act and that it has repeatedly failed to file with the Commission annual and quarterly reports in compliance with the Exchange Act. Clean Energy filed an Answer to the OIP and participated in a February 22, 2011, prehearing conference at which it advised that it planned to become current in the near future and at which the parties agreed to accept an initial decision based on cross-motions for summary disposition pursuant to 17 C.F.R. § 201.250; May 2, 2011, was set as the due date for the motions, and May 9, 2011, for replies. Clean Energy and Power, Inc., Admin. Proc. No. 3-14205 (A.L.J. Feb. 22, 2011). The Division of Enforcement (Division) timely filed its motion, seeking the revocation of the registration of Clean Energy’s securities. However, Clean Energy neither filed a motion nor a reply to the Division’s motion. Thus, Clean Energy has failed to respond to a dispositive motion within the time provided within the meaning of 17 C.F.R. § 201.155(a)(2). Accordingly, Clean Energy is in default, and the undersigned finds that the allegations in the OIP are true, as modified by the Commission’s public official records concerning Clean Energy, of which official notice has been taken. See 17 C.F.R. §§ 201.155(a), .323.
II. FINDINGS OF FACT
Clean Energy (CIK No. 0001100748)1 is a Nevada corporation currently located in Warwick, Rhode Island, with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). The company is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-K for the year ended December 31, 2008. Its securities are quoted under the symbol “KEPI” on OTC Link (formerly “Pink Sheets”) operated by OTC Markets Group Inc.
III. CONCLUSIONS OF LAW
By failing to file required annual and quarterly reports, Clean Energy violated Exchange Act Section 13(a) and Rules 13a-1 and 13a-13.
IV. SANCTION
Revocation of the registration of the registered securities of Clean Energy will serve the public interest and the protection of investors, pursuant to Section 12(j) of the Exchange Act. Revocation will help ensure that the corporate shell is not later put to an illicit use involving publicly traded securities manipulated to the detriment of market participants. Further, revocation accords with Commission sanction considerations set forth in Gateway Int’l Holdings, Inc., 88 SEC Docket 430, 438-39 (May 31, 2006) (citing Steadman v. SEC, 603 F.2d 1126, 1139-40 (5th Cir. 1979)), and with the sanctions imposed in similar cases in which corporations violated Exchange Act Section 13(a) by failing to file required annual and quarterly reports. See Eagletech Commc’ns, Inc., 88 SEC Docket 1225 (July 5, 2006); Neurotech Dev. Corp., 84 SEC Docket 3938 (A.L.J. Mar. 1, 2005); Hamilton Bancorp, Inc., 79 SEC Docket 2680 (A.L.J. Feb. 24, 2003); WSF Corp., 77 SEC Docket 1831 (A.L.J. May 8, 2002). Clean Energy’s violations were recurrent, egregious, and deprived the investing public of current and accurate financial information on which to make informed decisions.
Failure to file periodic reports violates a crucial provision of the Exchange Act. The purpose of the periodic reporting requirements is to publicly disclose current, accurate financial information about an issuer so that investors may make informed decisions:
The reporting requirements of the Securities Exchange Act of 1934 is the primary tool which Congress has fashioned for the protection of investors from negligent, careless, and deliberate misrepresentations in the sale of stock and securities. Congress has extended the reporting requirements even to companies which are “relatively unknown and insubstantial.”
SEC v. Beisinger Indus. Corp., 552 F.2d 15, 18 (1st Cir. 1977) (quoting legislative history); accord e-Smart Techs., Inc., 57 S.E.C. 964, 968-69 (2004). The Commission has warned that “many
1 The CIK number is a unique identifier for each corporation in the Commission’s EDGAR database. The user can retrieve filings of a corporation by using its CIK number.
2
3
publicly traded companies that fail to file on a timely basis are ‘shell companies’ and, as such, attractive vehicles for fraudulent stock manipulation schemes.” e-Smart Techs., Inc., 57 S.E.C. at 968-69 n.14.
V. ORDER
IT IS ORDERED that, pursuant to Section 12(j) of the Securities Exchange Act of 1934, 15 U.S.C. § 78l(j), the REGISTRATION of the registered securities of CLEAN ENERGY AND POWER, INC., is REVOKED.
______________________________
Carol Fox Foelak
Administrative Law Judge

http://www.sec.gov/litigation/admin/2011/34-64528.pdf

[Drugdoctor]

Buyer beware!! Told everyone it was a SCAM for years!!!

[Drugdoctor]

I like just shutting the scams down better, lol

[crystal clear]

It can get worse, and it did....all debating aside - sorry for you & others that lost here. I was one of them too, that's why so many of us tried to warn you all.

I mean really, how much worse can it get?

[crystal clear]

well, there's a Roger Pawson shell that's bit the dust. Sad, for the innocent ppl that lost so much here.... I hope the theives enjoy(ed) their ill-gotten $$$.
When I see things like this, I have to go by my favorite quote:

YOUR quality of life is not determined by what others do to you - BUT by what YOU do to others, is what comes back.

[Renee]

The SEC is picking up the pace for Suspensions , Litigations , and Revocations for non-compliant filers . It is my opinion that the SEC should implement a Ruling for all stocks that can't or won't file Financials to be sent to the unsolicited Grey Sheets until they do file . From there the SEC could take their time to litigate and revoke after a set time on the Grey Sheets if the delinquent filer still won't file Fins .

The same rule should apply to non-SEC filers on the Pink Sheets whereby Fins should be required filing to the accepted OTC Pink Sheets or dispatched to the Grey Sheets until they do file Fins .

[nodummy]

WOW that's crazy. I noticed they had started redoing a lot of old reports.

Guess in the end they didn't satisfy the standards that the SEC set for them.

Just speaking in general terms I wish the SEC would take a similar tough stance against other companies as well.

This should serve as an example for companies that follow similar patterns, but unfortunately I doubt it will deter any other companies from repeating similar acts against its shareholders. To do that the SEC would need to discipline a string of companies in a similar manner.

[Renee]

KEPI : Revoked :

http://www.sec.gov/litigation/admin/2011/34-64528.pdf

[Drugdoctor]

Yea, However, the SEC may throw the book at em also.

[mgccrx]

Nothig factual, just a hunch. Yahoo has this stock listed on their info pages again, it was removed a few days after trading ended in January. I am guessing that since yahoo reposted the company info, they must be assuming it will soon trade again. That and the fact that they finally posted the 2008 10-k on April 30. Based on how bad that was, they now have no reason to fear or be ashamed of any results for 2009 or 2010, I mean really, how much worse can it get? So I assume they have them completed and are just pending approval and release by the SEC.

[Drugdoctor]

What do you base that statement on?

[mgccrx]

Here we go again. It looks like this turd is poised to trade again soon.

[Drugdoctor]

re"someone has an interest in keeping a publicly traded stock alive for their manipulating pleasure."

Hopefully that someone will now have to face the SEC... can't say the SEC doesn't know about this scam.

[crystal clear]

hi mgcc! Yes, it has been awhile, I'm also surprised by the 8-K. If everyone would google, Roger Pawson, they will find
more info of how he has been in several company disasters. :/
IMO

[mgccrx]

2008 10k filed with the SEC, good reading if your looking for a hardy laugh. Pretty funny how the company consists of a 1,000 square foot office at $500 per month rent with no lease. Even funnier how at the end of 2008 the company's assets were $1,300 in cash with over $8 million in debt. I thought the company was dead, but someone has an interest in keeping a publicly traded stock alive for their manipulating pleasure.

[fink]

Just found the string of conversation kinda elementry. And my coffee induced big mouth going off.

Still, I hope it helps someone out there!

[crystal clear]

fink: Oh yea I'm full of it so check with your Broker...ROFL!! that was a great tax post!

[fink]

Let me tell you what to do and recoup 20% of your original investment.
Just donate the entire position to your church. Call for the certificates from your broker and march em down to your local almamater.
Trust me, they all have done this 100s of times since the last market crash of Y2K. You get to take the entire original cost as a donation and score the 20% plus what ever else you wish to lie about.LOL! I have done it a few times with commission costs added. Smoke that IRS!
The only way to dump the shares into the open market is call your broker and beg they don't charge ya commission to sell. Then you only get to take $3k a year and roll the rest into the next. Suck on that scam, Uncle Sam.
I trade with Scottrade and have dumped dividend shares that were worthless. A stupid move looking back. I got sick of looking at them and asked to have them removed. They set a sell with no BID price and poof they were gone.
After the fact, it hit me that was a stupid move. Just let em sit. Shells do become reactivated and it doesn't cost you any thing to let em grow mold.
One I still own AFFL hit a 4,200% one day. Talk about an awakening.
Best thing to do is call your broker and set a high limit sell and forget about em.
Now if you really need the 20% then look into donating the shares. Hey, just like the Kidney Foundation that askes for your old cars arond tax time. It too, is a cool deal, You inflate the value of the car and get your tax deduction. Call em, I bet they have loads of free info on recieving stock.

Personaly, I'll just hold and wait out the future of this stock.
If you play pinks long enough, you too will accumulate a string on dead ones. To date I have 8 that are smoked. Nature of the beast.
Look at NHSH, a dead forgotten shell. Then Nov 8th or so some Joe comes in and guys 1M of the 1.34M shares and its a .51pps empty shell that trades a few shares every other day. Try living with donating those 100K.
Hope this helps all. Oh yea I'm full of it so check with your Broker. Last I hear almost 50% of Americans don't even pay taxes, so check first. It could be a waste in the long run.

[crystal clear]

What mgccrx is telling you, is that you can't continue to carry that $30K over for years - there's a limit on how many yrs you can carry it over, it's not an infinitive write off.
You're right on 1 aspect, if you get a huge gainer, that will off set the capitol gains tax.

[dking1964]

I'll have to ask my tax person about that. I was told you can only use $3,000 a year. Who does you taxes?

[mgccrx]

You can't carry over that loss forever. You should have listened to everyone, thats a big loss, especially on a turd like this.

[dking1964]

I think that KEPI is buying time here. I think they are doing the right thing. If it's a SCAM I will just use it as a tax loss. If I was to post on all the boards that I have lost money on as a basher that's all I would get done. You never know when you are going to have that big year. I have around $30,000 capital loss to carry over. You can only do $3,000 a year if you don't have a big gainer. In a way it's like money in the back. Social Security doesn't pay much.

[Drugdoctor]

When it's a scam like KEPI, you don't think a warning or two to anyone else contemplating the stock is the right thing to do?

[dking1964]

When you sell a stock don't follow it anymore. Don't hang around a bash it and tell people you lost and they will to. Look for a new investment and try to hook up with people who are saying to buy the stock. Don't look back. The past is the past.

[dking1964]

I remember one year I made around $225,000 profit and I offset it with around $200,000 with stock I had been holding. So if KEPI get's back on the market I may have to pay taxes. If it doesn't then I could use it as a tax wright off. The thing about investing is you don't look back. You can't live in the past.

[dking1964]

The crazy thing is you can't sell. I'm going to need a tax right off for this year. If they never get back on the stock market does that mean I can right it all off. I could live with that.

[Petie]

Man this really sucks!!

[mgccrx]

Holy $hit dking, you must be a complete tard. Have you been sheen-ing too much? If so, time to lay off the junk. Look, we all know that you lost a $hit ton of money on this TURD, even after many (including myself) told you that it was foolish to keep buying it, but come on. You are right though, it's not a scam, at this point it's nothing!!!!! Easy come, easy go. (heavy emphasis on the latter in your case) LOL!!!!!!!

[dking1964]

There is no proof that KEPI is a SCAM.

[crystal clear]

You're right, cargo! LOL - he posted the wrong co., that was for Clean Electric - this scam is Clean Energy & Power - that's too funny.

[Drugdoctor]

1) That's not KEPI!

2) KEPI's problem isn't registration with NEVADA, KEPI's problem is the SEC.

[mgccrx]

To quote an old movie - "It's over Johnny"

[Iglatend]

KEPI - Reinstatement with NVSOS - http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=XAHrNmhIG9u0kMmkqEROdg%253d%253d&CorpName=CLEAN+ELECTRIC%2c+INC.

[mgccrx]

That Q3 10Q is the funniest damn thing I've ever seen! They actually had a cash asset of $194, yes, one hundred and ninety four dollars!!!!! OMG that is sooooo funny!!! And how about the liability side of that balance sheet??!! I can't wait to see '09 and '10! Really, being an accountant, it doesn't get any better than this. I may have to print and frame these balance sheets, they're priceless!!

[maggco]

KEPI has submitted their 10Q for 2008. Does look like they are trying to bring the reports to date. Most important will be what the 3rd Qtr. looks like. I know some of you will already forecast a negative report.

[dking1964]

I don't believe it's a SCAM. 10-K filled more to come. Even in Mr. Barretts report I read where KEPI could be caught up on filings by spring.

[Drugdoctor]

dking1964 - you want info on SCAM status? Maybe start here..

http://www.otcmarkets.com/stock/KEPI/quote