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IDPE registration revoked:
https://www.sec.gov/litigation/opinions/2021/34-92693.pdf
IDPE SEC Suspension for severely delinquent Financials:
https://www.sec.gov/litigation/suspensions/2020/34-89989.pdf
Order:
https://www.sec.gov/litigation/suspensions/2020/34-89989-o.pdf
Admin. Proceeding:
https://www.sec.gov/litigation/admin/2020/34-89988.pdf
Hi MichaelKane..
The news I am posting is well in the rear view mirror now, but I will post it anyway - as I just discovered it. Apologies in advance if you are already aware of this.
Since I hadn't seen any updates on the board since the hearing was supposed to have occurred (3/11/19), I finally clicked on the IHUB post of the original custodial filing late last week. I noticed that the filing had been updated - revealing that on March 11th, 2019 the court "granted" custodianship to Chiang. However, unlike other cases, the custodianship was never "awarded," or, as I like to think of it, "recorded with the court." This "awarded" part of the process usually seems to take place the next business day but, as I said, for some reason in this case custodianship was never awarded after being granted by the judge.
Subsequently, in early April, Chiang's LLC submitted a new filing, which requested a voluntary withdrawal of their case - thus dismissing the custodianship, which had yet to be officially awarded anyway.
The last update on the filing stated that the case had been transferred to a different court division. Consequently, I called the court to see what that meant, exactly. The clerk told me that this case had been dismissed.
I emailed the Chiang LLC a couple of days ago to see why the custodianship wasn't awarded after being granted, and inquired why they dropped the case. I asked if the prior owners/management were planning to fight the custodianship and if that, perhaps, was the reason for abandoning the custodianship. Thus far I have received no response. I am uncertain whether they can legally respond to the answers I posed.
Anyway..I was trying to figure out where this case and company might be headed. At least I know that the case is no longer a variable.
Best,
Ian
Please tap this link to stockcharts so we can have a chart for IDPE...
https://stockcharts.com/support/symbolrequest.html
IDPE...40...From 17 alert...52 Week high...Could be the lowest share structure I have seen on a Custodianship play...
ALSO INTERESTING WAS THAT CURRENT OWNER ISSAC LEKACH AND WIFE
HAVE A FEW BIZ,, ONE WAS DREAM WATER SOLD LAST YEAR TO CANADIAN MJ COMPANY FOR 27 MILLION ..
JUST SAYIN...
Nice starter...still time to see where this goes...
No just 2333 shares but thinking of adding more today
That was your 4000 shares...I grabbed a starter as well at a .25 average...for 5000 shares...will add as required...
Picked up a good starter today at .30 A little slow but got in.
IDPE...2950...plus 75%...
Yes Indeed...should be a good one...
Yea Richard Chiang behind it, same as CNH* and LCT*
IDPE...22...Cutodianship play alerted at .17..Authorized Shares
10,000,000
02/01/2019
Outstanding Shares
4,115,837
02/01/2019
Yup, SEC Delinquent too. They better file right away to make sure this one does not get slapped.
Yes Indeed...Just about the most reserved share structure I have seen in the OTC...
IDPE...17...Custodianship play...
Authorized Shares
10,000,000
02/01/2019
Outstanding Shares
4,115,837
02/01/2019
Events and Hearings
02/05/2019 Initial Appearance Fee Disclosure
Comment
Initial Appearance Fee Disclosure
02/05/2019 Petition
Comment
Application for Appointment of Custodian
?
03/11/2019 Motion for Appointment
Judicial Officer
Smith, Douglas E.
Hearing Time
3:00 AM
Comment
Application for Appoinment of Custodian
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