Cobalis Corp. (fka CLSC)

[lido]

http://www.law360.com/articles/462886/cobalis-suit-over-hedge-fund-scheme-tossed-in-nj


opps they did it again

[MPTIU82]

http://ginvestor.biz/sec-charges-yorkville-advisors-hedge-fund-with-fraud/

[John1]

Guess they haven't had enough time to prepare yet.

http://ecf-ciao.cacb.uscourts.gov/Posted/TA_012913.pdf

[MPTIU82]

Cobalis Appeal Hearing Jan 29.

[carmine_langone]

chas is noW the president and ceo of GSAED

[urche]

Nothing happening as far as I know. I did call the number given a few months ago and sent email with my holding info. But, no response. I have since tendered my shares thru Vanguard for the tax loss. Game over for me.
Urche

[ibtruckn2]

So, any updates regarding CLSC and the goings on around them. Call..., don't call, why call. More information would be great.
Thanks
Kevin

[forb]

Hello diversified. Look this.
http://m.ec21.com/mobile/pDetails.jsp?catalog_id=6165062

[walsh212]

Chas is a joke and a predator gay bastard. He robbed everybody and is laughing at us all.

[urche]

INITIAL PRETRIAL CONFERENCE

Thanks for this confirmation of INITIAL PRETRIAL CONFERENCE, presumably prelude to class action suit against YA.

FWIW, I did send email to the address given a month or so ago with my share info---no reply.

Any advice on whether there is anything to lose by taking the shares as a tax loss this year? Vanguard has a procedure to buy my shares for $1 to get them off their books and do the documentation needed for claiming a loss. Is there any reason I would be sorry to do that this year?

Urche

[CommPilot]

1:12-cv-07728-GBD Securities and Exchange Commission v. Yorkville Advisors, LLC et al
George B. Daniels, presiding
Date filed: 10/17/2012
Date of last filing: 10/18/2012


History
Doc.
No. Dates Description
6 Filed & Entered: 10/18/2012
Order for Initial Pretrial Conference
Docket Text: INITIAL PRETRIAL CONFERENCE: Initial Conference set for 1/3/2013 at 09:30 AM in Courtroom 11A atthe United States District Courthouse, 500 Pearl Street, New York, NY 10007 before Judge George B. Daniels. (Signed by Judge George B. Daniels on 10/18/2012) (ft)
Filed & Entered: 10/17/2012
Summons Issued
Docket Text: SUMMONS ISSUED as to Mark Angelo, Edward Schinik, Yorkville Advisors, LLC. (mro)
Filed & Entered: 10/17/2012
Case Designation
Docket Text: Magistrate Judge Henry B. Pitman is so designated. (mro)
Filed & Entered: 10/17/2012
Case Designated ECF
Docket Text: Case Designated ECF. (mro)
1 Filed & Entered: 10/17/2012
Complaint
Docket Text: COMPLAINT against Mark Angelo, Edward Schinik, Yorkville Advisors, LLC. Document filed by Securities and Exchange Commission.(mro)
2 Filed & Entered: 10/17/2012
Standing Order re Complex Civil Cases
Docket Text: STANDING ORDER IN RE PILOT PROJECT REGARDING CASE MANAGEMENT TECHNIQUES FOR COMPLEX CIVIL CASES IN THE SOUTHERN DISTRICT OF NEW YORK (See M-10-468 Order filed November 1, 2011). This case is hereby designated for inclusion in the Pilot Project Regarding Case Management Techniques for Complex Civil Cases in the Southern District of New York (the Pilot Project), unless the judge to whom this case is assigned determines otherwise. This case is designated for inclusion in the Pilot Project because it is a class action, an MDL action, or is in one of the following Nature of Suit categories: 160, 245, 315, 355, 365, 385, 410, 830, 840, 850, 893, or 950. The presiding judge in a case that does not otherwise qualify for inclusion in the Pilot Project may nevertheless designate the case for inclusion in the Pilot Project by issuing an order directing that the case be included in the Pilot Project. The description of the Pilot Project, including procedures to be followed, is attached to this Order. (Signed by Judge Loretta A. Preska on 10/31/2011) (mro)
3 Filed & Entered: 10/17/2012
Notice of Appearance
Docket Text: NOTICE OF APPEARANCE by Todd Daniel Brody on behalf of Securities and Exchange Commission (Brody, Todd)
4 Filed & Entered: 10/17/2012
Notice of Appearance
Docket Text: NOTICE OF APPEARANCE by Valerie Ann Szczepanik on behalf of Securities and Exchange Commission (Szczepanik, Valerie)
5 Filed & Entered: 10/17/2012
Notice of Appearance
Docket Text: NOTICE OF APPEARANCE by Stephen Bruce Holden on behalf of Securities and Exchange Commission (Holden, Stephen)

[fatchixsinging]

That's the point, greekgawd!

It's a vitamin, nothing more.

Gawd forbid if you actually have patients. You obviously have no knowledge of molecular chemistry. And you write like some one who doesn't know English.

[fatchixsinging]

The only side I play for is my own side. While some were buying into the crap from the company and this board, I shorted this scam. You can thank Chas for hiring Yak for inviting anyone with a brain to short this pig.
Keep dreaming that this nightmare will go away and you will be blessed with a turnaround.

Not gonna happen in this lifetime. Go online and buy the same stuff for 10% or less than what Chas thought he could get away with. In 7 CVSs that I canvassed, they sold 6 packs in 6 month combined.
Sucha hot product!!

not......

[zeusgodmd]

The vitamin works and better as most of my patients have tried the cheap stuff and not the same. I wish I knew how to get my hands on it to sell it. I know there is a warehouse full of it rotting.

[longmike2]

sounds like you play for the other side

[fatchixsinging]

Exactly how or why would CLSC be next?
They tried to peddle a cheap vitamin as an expensive allergy cure and no one would by their crap. They entered into financing deals with full knowledge they were getting into bed with a bunch of sharks. Chas & Co. produced their own chumslick by their greed and stupidity (IMO) and they got eaten. Chas & CLSC didn't get shafted by anyone; however that scum shafted shareholders.
The handwriting was on the wall in regards to this pig. Instaed you chose to listen to the whims of fantasy that came from Carmine and others of his ilk. You made your bed; now your portfolio gets to sleep in it. It will be a long sleep.

[CommPilot]

Angelo issued a statement rejecting the SEC’s allegations. “Here, even though there was no wrongdoing by me, Yorkville, or its CFO Ed Schinik, the SEC needed to justify its lengthy and costly investigation,” said the Yorkville chief, in the statement. “We will not be victims of this free money shakedown and will vigorously defend against the SEC’s baseless allegations.”

Anyone can read the complaint and it is clear that this is anything other then a free money shakedown. The complaint states that he and his crew have lied over and over and over again. Does not sound like a free money shakedown, sounds like someone got busted with his hand in the cookie jar and crumbs all over his lips.

[longmike2]

cobalis needs to file next!!!

[CommPilot]

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22510 / October 17, 2012
SEC v. Yorkville Advisors, LLC, Mark Angelo and Edward Schinik, Civil Action No. 12-CV-7728 (S.D.N.Y.) (GBD) (filed October 17, 2012)
SEC Charges Hedge Fund Adviser and Two Executives with Fraud
The Securities and Exchange Commission announced the filing today of a civil enforcement action in the United States District Court for the Southern District of New York, charging a former $1 billion hedge fund advisory firm and two executives with scheming to overvalue assets under management and exaggerate the reported returns of hedge funds they managed in order to hide losses and increase the fees collected from investors.

Today’s complaint alleges that New Jersey-based Yorkville Advisors LLC, founder and president Mark Angelo, and chief financial officer Edward Schinik enticed pension funds and other investors to invest in their hedge funds by falsely portraying Yorkville as a firm that managed a highly-collateralized investment portfolio and employed a robust valuation procedure. They misrepresented the safety and liquidity of the investments made by the hedge funds, and charged excessive fees to the funds based on the fraudulently inflated values of the investments.

According to the SEC’s complaint, Yorkville, Angelo, and Schinik defrauded investors in the YA Global Investments (U.S.) LP and YA Offshore Global Investments Ltd hedge funds. The SEC alleges that Yorkville and the two executives:

Failed to adhere to Yorkville’s stated valuation policies.
Ignored negative information about certain investments by the funds.
Withheld adverse information about fund investments from Yorkville’s auditor, which enabled Yorkville to carry some of its largest investments at inflated values.
Misled investors about the liquidity of the funds, collateral underlying the investments, and Yorkville’s use of a third-party valuation firm.
The SEC alleges that by fraudulently making Yorkville’s funds more attractive to potential investors, Angelo and Schinik enticed more than $280 million in investments from pension funds and funds of funds. This enabled Yorkville to charge the funds at least $10 million in excess fees based on the inflated values of Yorkville’s assets under management.

The SEC’s complaint charges Yorkville with violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5. Yorkville also is charged with violating Sections 206(1), (2) and (4) of the Investment Advisers Act of 1940 and Rule 206(4)-8. Angelo is charged with violating Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5, and Sections 206(1), (2) and (4) of the Advisers Act and Rule 206(4)-8. He also is charged with aiding and abetting Yorkville’s violations of the Exchange Act and Advisers Act. Schinik is charged with violating Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5, and with aiding and abetting Yorkville’s violations of the Exchange Act and Advisers Act. The complaint seeks a final judgment permanently enjoining the defendants from future violations of the above provisions of the federal securities laws, ordering them to disgorge their ill-gotten gains plus prejudgment interest, and ordering them to pay civil penalties.

The SEC’s investigation was conducted by Stephen B. Holden, Brian Fitzpatrick, and Kenneth Gottlieb, with the support of Frank Milewski, under the supervision of Valerie A. Szczepanik and Ken Joseph. The SEC’s litigation is being led by Todd Brody.

SEC Complaint: http://www.sec.gov/litigation/complaints/2012/comp22510.pdf

[longmike2]

call John! and pull your certificates from the brokers. Get them in your hand..if you sold your stock already ask the attorneys what to do. Class Action being filed!
oh BTW is not against Cobalis....YAGI

[urche]

I would want to know why I am calling. Is John's interest in amassing shareholders to participate in a class action lawsuit? If so, is it against Cobalis or the allegedly unscrupulous debtholder(s)?

Urche

[carmine_langone]

CALL HIM 954 270 1222 JOHN

[urche]

I sent an inquiry to this address this am:
[e-mail]

No response so far. Has anyone else talked by phone or heard by email from these guys?

Urche

[carmine_langone]

suing YA the have tons of money

[zeusgodmd]

Carmine what money do you think cobalis will be able to give us? They were broke.

[carmine_langone]

ANY QUESTIONS ABOUT THE CLASS ACTION CALL DON IN MY PREVIOUS POST

[carmine_langone]

HELLO ALL

If you are interested in the class action law suit with CLSC

1. we will need to know amount of money invested
2. number of shares
3. date of investments (if possible) OR A ROUND ABOUT DATE
4. personal contact number, and e-mail contact.

This action is being represented by a law firm out of San Diego and captained by Don Logan. If we recover any funds the firm will take 30%.



To date JOHN DIPRATO and DON LOGAN has funded this action so far alone.



call JOHN DIPRATO for any INFO and QUESTIONS : CALL JOHN DIPRATO [phone]

you can call him today EMAIL ALL INFO TO JOHN

(I WILL POST MORE LEGAL INFO LATER TODAY)

[e-mail]

[ibtruckn2]

I hope he can do something.
I would be more than happy to sell my shares should an oppurtunity arise.

[fatchixsinging]

The only stuff that Chas has up his sleeve is all the money he stole from the shareholders of this disaster.
Some people never learn from their mistakes.

[zeusgodmd]

The fight goes on. Hopefully, Chas has something up this sleeve. Product wasting in storage. What a shame.

[Ugot2Bkddn]

Cobalis Corporation et al v. YA Global Investments LP
More Sharing ServicesShare | Share on googlebuzzShare on facebook_likeAppellant: Creditor Montenegrex
Appellee: YA Global Investments LP
In Re Debtor: Cobalis Corporation
Movant: Rey Olsen

Case Number: 8:2012cv00826
Filed: May 23, 2012

Court: California Central District Court
Presiding Judge: Dale S. Fischer

Nature of Suit: Bankruptcy - Appeal


I don't have access to the database.

IMHO, Cobalis never put forth an adequate defense of their position. :(

[zeusgodmd]

Looks like went back to court on 23 for bankruptcy new judge Dale Fisher don't now where to find the docket if anybody still out there. I guess all the product will die in a warehouse somewhere.

[zeusgodmd]

By then all the product will be expired.

[LongJohn64]

Not unless Chaz wins his appeal.

[zeusgodmd]

Is this product ever going to be sold again?

[zeusgodmd]

Looks like we are doing as good as Charlie Sheen. Winning. NOT

[John1]

Court today.

http://ecf-ciao.cacb.uscourts.gov/Posted/TA_032712.pdf

[MPTIU82]

I have heard there is a hearing on Tuesday 3/27 on sanctions against the BK trustee and YAGI and Baker Botts due to issues related to the conversion to CH 7, non-monetization of the assets of the Cobalis estate, and turn over of IP to YAGI that Cobalis never owned it seems. This is a bloody shame (crime?) to deny this product to the marketplace with demand for PreHistin from allergy sufferers still that cannot get the product and thousands of boxes of product sitting in warehouses. What is this trustee doing/thinking? Nothing it seems. She is derelict in her responsibilities to all creditors and stake holders, except YAGI, for a measly $100 K hush payment when millions of dollars are at stake. Makes me sick!

[urche]

Good find.
Chas is moving on, as we all should.
Interesting that the new company seems to have no connection to anything pharmaceutical or biotech. They are pushing technology to make bartending more profitable!

[John1]

New job for chas?
http://www.clear-view-tech.com/CVT_corporateinfo1.htm

[urche]

Likewise, lingering, lurking.

Is there any court event ,appeal, decree that is expected ?
I just wonder how one ever gets closure in a case like this, even though we have been advised many times that it is time to move on.
Urche

[LongJohn64]

Still lurking and hoping.

[longmike2]

i think most invetsors come back to this board for some hope. i will u posted if something positive developes

[MPTIU82]

I am still here too. Such a great product and commercial effort turned into such a financial mess for far too many people. What a shame for those who found allergy relief from PreHistin and now cannot get it. The legal fees killed a very good product and growing business. Just disgusted.