KIT Digital, Inc fka KITDQ

[scion]

U.S. District Judge Paul G. Gardephe revoked Amanat's bail after Assistant U.S. Attorney Andrea Griswold said he was a flight risk and that he could face over a decade in prison. Gardephe agreed a "substantial" sentence was likely.

[Sleepy2016]

Huma Abedin's cousins were behind this scam and are now awaiting sentencing after being convicted yesterday.

http://www.wnem.com/story/37146277/two-investors-including-twilight-backer-convicted-of-fraud

[scion]

SEC Charges Former KIT Digital Inc. President with Securities Fraud

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23690 / November 18, 2016

Securities and Exchange Commission v. Gavin Campion, Civil Action No. 16-cv-8940 (S.D.N.Y. filed Nov. 17, 2016)

SEC Charges Former KIT Digital Inc. President with Securities Fraud

The Securities and Exchange Commission charged Gavin Campion, the former president of KIT Digital Inc., with securities fraud.

The SEC's complaint, filed in federal court in New York on November 15, alleges that over a one-year period ending in late 2011 Campion - along with Kaleil Isaza Tuzman, then KIT Digital's CEO, and Robin Smyth, then its chief financial officer - caused KIT Digital to recognize more than $25 million in false revenue from at least a dozen sham license agreements that inflated KIT Digital's publicly reported financial results. As a result of this allegedly fraudulent conduct, from approximately 2010 to mid-2012, KIT Digital allegedly filed with the SEC quarterly and annual reports and annual and interim financial statements that falsely and materially overstated the company's revenue, goodwill, and cash equivalents and materially understated its losses by millions of dollars.

The SEC previously charged Smyth and Isaza Tuzman with securities fraud; the litigation is ongoing. In addition, the U.S. Attorney's Office for the Southern District of New York today filed a parallel criminal case against Campion.

The SEC's complaint alleges that Campion violated Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934 and Rules 10b-5 and 13b2-1 thereunder, and aided and abetted violations of Section 17(a) of the Securities Act and Sections 10(b) 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange and Rules 10b-5, 12b-20, 13a-1, 13a-11, and 13a-13 thereunder. The SEC seeks disgorgement of ill-gotten gains plus prejudgment interest and penalties as well as permanent injunctive relief and an officer-and-director bar.

The SEC thanks the U.S. Attorney's Office for the Southern District of New York, the Federal Bureau of Investigation, and the U.S. Postal Inspection Service for their assistance. The SEC's investigation is continuing.

SEC Complaint
https://www.sec.gov/litigation/complaints/2016/comp23690.pdf


http://www.sec.gov/litigation/litreleases/2016/lr23690.htm

[Renee]

KITDQ: Courtesy Scion: Former Kit Digital executives arrested on U.S. fraud charges

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=116824135

NEW YORK | By Nate Raymond
Tue Sep 8, 2015 6:58pm EDT
http://uk.reuters.com/article/2015/09/08/kit-digital-arrests-idUKL1N11E2OT20150908

U.S. prosecutors announced charges on Tuesday against the former chief executive and chief financial officer of Kit Digital Inc for a scheme to deceive investors and regulators about the video technology provider's financial health.

Kaleil Isaza Tuzman, the former CEO, was arrested on Monday in Colombia on charges including securities and wire fraud contained in an indictment filed in federal court in Manhattan.

Robin Smyth, Kit Digital's former CFO, was arrested on Tuesday on charges including securities fraud, Manhattan U.S. Attorney Preet Bharara said in a statement.

Tuzman's lawyer had no immediate comment. A lawyer for Smyth, 61, could not immediately be identified.

Prosecutors said that from 2008 to 2011, Tuzman, 43, oversaw a scheme with a hedge fund manager to manipulate Kit Digital's stock in order to artificially inflate its share price and trading volume. The hedge fund manager was not identified.

Prosecutors said Tuzman personally invested in the fund and arranged to have Kit Digital invest $1.15 million in it, turning the hedge fund into a vehicle by which the company invested in itself without disclosing that fact to shareholders.

Tuzman, working with Smyth, meanwhile from 2010 to 2012 sought to deceive Kit Digital's investors and auditors into believing the company was more profitable than it was in reality, prosecutors said.

That scheme involved the improper recognition of revenue for "perpetual license" contracts for software and the execution of fraudulent round-trip transactions, prosecutors said.

Bharara's statement said the scheme's aim was to "mislead investors and regulators about the financial health of the publicly traded company they oversaw."

After Tuzman and Smyth resigned in 2012, the company that November announced it would restate financial results going back to 2009.

On the first trading day after the announcement, Kit Digital's shares opened down 52 percent at $1 per share and fell a further 26 percent to $0.74 by the day's end, the U.S. Securities and Exchange Commission said in a related civil lawsuit.

NASDAQ subsequently delisted Kit Digital, which ultimately filed for bankruptcy in April 2013.

The case is U.S. v. Tuzman, U.S. District Court, Southern District of New York, No. 15-cr-536.

http://uk.reuters.com/article/2015/09/08/kit-digital-arrests-idUKL1N11E2OT20150908

[Tough_to_make_money]

I purchased as well. With almost 10K lost with KITD, I figured with assets and remaining and potential business, I might be able to recoup down the road. Also, did you notice not a peep about this on any boards! That is odd.

[kenbkb]

I purchased them.

I had about 7100 shares. Figured I would take the crap shoot. We have no financials, only estimates as provided in that mailing. But, man, if they come through and show profits like they are projecting, we could make out like bandits.

That said, Etrade informed me it is possible that this could not be publicly traded for a year. So our money sits in limbo or wherever.

The transfer agent told me we should receive some form of acknowledgement from Piksel in September. Other than that, I am not sure what we will see or hear or receive from them.

Thanks, Kaleil, from the bottom of my heart. What a crook.

[Tough_to_make_money]

Is anyone going to purchase warrants?

http://www.marketwire.com/press-release/piksel-inc-warrant-exercise-underway-1826044.htm

[Tough_to_make_money]

Did you know.

http://www.marketwatch.com/story/piksel-inc-takes-legal-action-against-visual-unity-2013-09-05

[Tough_to_make_money]

In receipt on this today

Dear Fidelity Investor:
We have received notice of the following voluntary corporate action affecting your account. The issuer
did not make material available for mailing.
If you would like to participate in this offer, or if you have any questions, please call a Fidelity
Representative at 1-800-544-6666. We are always here to take your call.
September 04, 2013
Fidelity Brokerage Services LLC, Member NYSE, SIPC
FMT CO CUST IRA ROLLOVER
FBO Name
St. address
State
XXXXXXXXXXXXXXXXXXXXXXXXXX
09/04/13 15:47:21
PIKSEL INC., THE REORGANIZED COMPANY OF KIT DIGITAL INC., HAS ISSUED 1
NON-TRANSFERABLE WARRANT FOR EVERY 1 SHARE OF THE COMMON STOCK, CUSIP
XXXXXXXXXX, HELD AS OF RECORD DATE AUGUST 5, 2013.
EACH WARRANT ENTITLES THE HOLDER TO PURCHASE ONE COMMON SHARE, CUSIP
72141R208, AT THE SUBSCRIPTION PRICE OF $0.205 PER SHARE. RECORD HOLDERS WHO
EXERCISE ALL OF THEIR ALLOCATED WARRANTS CAN OVERSUBSCRIBE FOR ADDITIONAL
SHARES, SUBJECT TO AVAILABILITY.
THE FOLLOWING INFORMATION HAS BEEN EXTRACTED FROM A NOTICE DATED AUGUST 19,
2013 TO FORMER STOCKHOLDERS OF KIT DIDGITAL COMMON:
THE SHARES ARE NEWLY ISSUED SECURITIES WHICH DO NOT CURRENTLY TRADE ON ANY
EXCHANGE, AND THE COMPANY DOES NOT INTEND TO TAKE STEPS TO LIST THE SHARES ON
ANY EXCHANGE. THERE WILL BE NO PUBLIC MARKET FOR THE SHARES, AND THE COMPANY
DOES NOT EXPECT A PUBLIC MARKET TO DEVELOP IN THE FORESEEABLE FUTURE.
ACCORDINGLY, HOLDERS WHO EXERCISE THE WARRANTS, MAY BE REQUIRED TO BEAR THE
ECONOMIC CONSEQUENCES OF HOLDING THE SHARES FOR AN INDEFINITE PERIOD OF TIME.
THE INFORMATION AGENT: CONTINENTAL STOCK TRANSFER TEL: [phone]
Account:
CUSIP: Description:
Offered By:
TD Qty: Cutoff Date:
XXX-XX5321-1
72141R117 PIKSEL INC WT PUR COM CL A-2 EXP
EXPIRING RIGHTS PIKSEL INC
XXX Sh. #'s 09/17/13


Is this even legal at this point!
"did not make material available for mailing."
They sure do not make it sound appealing.
Does one want to invest more $$ into this?
With the current equipment and income, watch this thing take off.
Like I said they are not making it sound appealing.
What to do!
BTW, I X'd out my personal info, as you can see.

[Tough_to_make_money]

Check out these dates (today's date)

The median price of KIT digital for the period between Sat, Jul 27, 2013 and Mon, Aug 26, 2013 is 0.04 with a coefficient of variation of 109.11. The daily time series for the period is distributed with a sample standard deviation of 0.17, arithmetic mean of 0.16, and mean deviation of 0.16. The Stock did not receive any noticable media coverage during the period.


And this link.
http://www.macroaxis.com/invest/market/KITDQ--KIT_digital_Inc

I have not received any mailed notification to date regarding
Kitd's actions.

Can anyone post any further findings and or views as to the outcome
of Kitd's action???

[Longhare]

Plateform to discuss , i guess im not
Up on all ihub offers. Were do i go to locate this discussion plateform

[Tough_to_make_money]

No mb or listing for kitd or kitdq on yahoo. This is a platform to discuss. Maybe Lion or Raging Bull or Invetor Village might have some investors looking for info.

[Longhare]

The mb is gone for kitd or kitdq
Unless there on yahoo

[Tough_to_make_money]

Sorry, can't help you on that one. I checked a host of other boards and we are the only 2 talking about KITD and zero tweets.

[Longhare]

I cant find this mb when i go to main ihub page on moble app , any ideas

[Longhare]

The message board here shows no Board only way i can get on is by responce from you , how are you getn to this message board

Heres my response mailing...
Hi Terry
Warrant packs and instructions were sent out to shareholders Monday this week. They will have been sent to either you, or your broker - depending on the last address we had on file pertaining to the original share transaction.

You have 30 days to exercise the warrants - with the 30 days expiring on September 18.

The transaction process is being managed by our agent, The Continental Stock Transfer & Trust Company. Should you not have received the documentation you need by the end of this week, I would encourage you to reach out to them for more information. For more information in general, you can find an FAQ regarding the warrants process on the Investor section of the kitd.com website: http://ir.kitd.com/phoenix.zhtml?c=144912&p=reorg

Best regards,
Natasha

[Tough_to_make_money]

Yea, I know, our hands are tied. Either we purchase warrants and take our chances as to there sale price, or just let them go and loose all. It's a decision we have to make. I've lost much on KITD over the years. I feel there is value in the co. so I will
purchase warrants and wait for them to go private.
We won't find any info like we did prior to the change, it's not trading.

[Longhare]

Heck i dont know how to get back and this page , when i got to kitdq it shows no message board and i forgot how i found this board the other day , but i paid like .70 sh so now i wish i had sold while back
But the news letters made it sound
Like id be more less rewarded to hold , NOT i see

[Tough_to_make_money]

Well, that's fine, if Piksel goes private and you exercised all or part of your warrants then, when they do go private they buy out your exercised sh through those warrants. Just hope they are worth
more then what we paid for them.

[Longhare]

Thanks , i sid email so lady and she said last Monday the mailing went out to share holders so ill chk it today and there a 30 (sept18) to get info back to them for share purchase with warrents issued.
The dislike about this is piksel is taking it private so then ? What happens to the shares , if no one knows they are there and what about selling them later ?

[Tough_to_make_money]

Might be time to make a few phone calls (if we can reach anyone)
we should get some instructions in the mail. I hope we are getting
more then just the opportunity to purchase a sh. for 0.2050 for each sh we currently own prior to 8/5.
I will let this board know if I hear anything.

[Longhare]

Under the approved Plan of Reorganization, existing shareholders of the Company are entitled to receive, among other things, one warrant per share of Company stock owned as of August 5, 2013. Holders of the warrants will have the right to purchase an equivalent number of shares of Piksel at $.205 per share. Because the warrants are not transferable, any Company stock purchased after August 5, 2013 will not be entitled to receive the warrants and will be cancelled on the Effective Date of the Plan of Reorganization.

Looks like i will need to find out how to transfer my L tirm shares to new co

[Longhare]

Under the approved Plan of Reorganization, existing shareholders of the Company are entitled to receive, among other things, one warrant per share of Company stock owned as of August 5, 2013. Holders of the warrants will have the right to purchase an equivalent number of shares of Piksel at $.205 per share. Because the warrants are not transferable, any Company stock purchased after August 5, 2013 will not be entitled to receive the warrants and will be cancelled on the Effective Date of the Plan of Reorganization.

Looks like i will need to find out how to transfer my L tirm shares to new co

[here4beer]

i hope u were just kidding...

[Tough_to_make_money]

Well, I guess we sit here and wait for reorganization (maybe a year)with all our cancelled sh worthless and maybe (just maybe)
we wake up one day with 1/2 our original worth 0.01
What a grand decision this was.

[Renee]

KITDQ: Plan of bankruptcy effective. All shares cancelled.

http://www.otcbb.com/asp/dailylist_detail.asp?d=08/16/2013&mkt_ctg=NON-OTCBB

[billionareboysclub]

KIT digital filed for voluntary bankruptcy protection three months ago to cleanse itself of legacy issues, including financial, legal and regulatory matters.

Seems like a legit Plan of Reorganization

[dip1155]

Anybody know what is going to happen to kitdq I heard that it has given by the end of this month then it is either filing chapter 11 or changing name. I see people still buying.

[Mr Wowza]

great job loaded and locked here too

[Mr_Lotto3000]

Same here. Loaded 30's and 40's last friday.

[janitor_unbound]

i did get a partial fill for 11k at .0032 this a.m. LOL

[janitor_unbound]

can't BELIEVE I didn't load up on .002s into the closing bell Friday, so obvious

[Mr Wowza]

bought here under 0.005!!

[kranthikumar]

KITDQ is smells like a winner

[janitor_unbound]

oh boy!

[SILVERISTHENEWGOLD]

~KITDQ~ Collecting some 02's

[Kevin40]

This has minimum of dollar here folks

read this

Under the restructuring plan, Mr. Heiland's technology investment firm, JEC Capital Partners, along with Oklahoma-based Prescott Group Capital Management and Netherlands-based Stichting Bewaarder Ratio Capital Partners, will get an 89% stake in the reorganized company in exchange for a $25 million investment. The remaining 11% of the stock will go to JEC, which has agreed to pay off the company's bankruptcy loan.
Holders of the company's common stock are getting warrants to buy new shares for 20 cents apiece.
"Piksel is set to emerge as a healthy, dynamic company with a great mix of talented employees, market-leading customers, profitable assets, and sufficient liquidity for operations and investments," Mr. Heiland said in a statement.

[Kevin40]

dont worry buy buy. this will go back to 20c

[1234zxcv]

read 8-k on otc shares bought after agu 5 are worthless...gltu

[Kevin40]

dont worry, this will run back up.. We have seen plenty like this

[1234zxcv]

why trading going on...? 8-k out

any Company stock purchased after August 5, 2013 will not be entitled to receive the warrants and will be cancelled on the Effective Date of the Plan of Reorganization.

[Kevin40]

looks like bounce to 15-20 cents today

[Bluesea387]

Will this stock make a come back or be gone?

[jukemasteragain]

here goes nothing...

[longhair61]

Anyone can tell me what shareholders can expect to happen to stock being the ch 11 , will we get wiped when they reemerge or is there something need to do on our part to retain our shares

[Penny Roger$]

~ $KITDQ ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

$KITDQ has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~

What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


To find other similar posts of "KITDQ" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "KITDQ": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=KITDQ ~
Search Ihub for "KITDQ" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=KITDQ ~


For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~


Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~


c

[Fast Flyer 03]

.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
6:00a ET July 1, 2013 (Dow Jones) U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH


Among the companies with shares expected to actively trade in Monday's session are InterDigital Inc. (IDCC) and Fleetmatics Group PLC (FLTX).

InterDigital said an administrative law judge overseeing patent-infringement claims against Nokia Corp. (NOK, NOK1V.HE), Huawei Technologies Co. and ZTE Corp. (ZTCOY, 000063.SZ, 0763.HK) found that one of the wireless-technology company's patents were infringed but that the patent was invalid and that another six patents weren't infringed. InterDigital's shares sank 17% to $37.05 after hours Friday.

FleetMatics said it plans to offer eight-million shares, of which, seven million are being sold by certain shareholders. The provider of fleet-management software had more than 34.6 million shares outstanding as of March 31. Shares were down 2.6% to $32.38 after hours.

Watchlist:
Fitch Ratings upgraded its rating on Flowserve Corp. (FLS) one notch further into investment grade, citing the diversified manufacturer's strong credit metrics and solid operating performance.

Health Management Associates Inc. (HMA) urged its shareholders not to respond to an effort by hedge fund Glenview Capital Management to overhaul the company's board.

KIT digital Inc.'s (KITDQ) insurers have agreed to pay $6 million to resolve a series of securities lawsuits tied to the tech company's accounting and acquisitions.

News Corp. has completed the separation of its publishing company, which is called News Corp (NWSA, NWS), from its entertainment divisions, a separate publicly traded company called 21st Century Fox (FOXA, FOX). News Corp owns The Wall Street Journal and Dow Jones Newswires.

Tellabs Inc.'s (TLAB) acting finance chief is resigning to become chief financial officer at fellow telecom-equipment provider Westell Technologies Inc. (WSTL).

Write to Nathalie Tadena at [e-mail]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires
July 01, 2013 06:00 ET (10:00 GMT)

[kenbkb]

More on it..............
Creditors cleared to vote on KIT digital Chapter 11 plan


By Katy Stech, Dow Jones Newswires

Tuesday 18 June 2013


New York bankruptcy court judge signs off on media technology firm's plan summary.



A Manhattan bankruptcy judge cleared KIT digital Inc.'s creditors to begin voting on the struggling media-technology company's Chapter 11 restructuring plan.

The creditors have been critical of the company's plan to transfer majority ownership to three investment firms while allowing existing shareholders to buy new shares for 20 cents each.

After a hearing in U.S. Bankruptcy Court in Manhattan, Judge Robert Gerber signed off on KIT digital's plan summary, allowing the company to send the restructuring plan to creditors who have until July 18 to vote on it. The Chapter 11 plan would give three investment firms--led by technology investment firm JEC Capital Partners--the power to spend $25 million to buy an 89% stake in KIT digital, which filed for bankruptcy protection on April 25.

Click here to find out more!The remaining 11% stake in the company would be given to JEC Capital Partners in exchange for a bankruptcy loan it extended to the company. JEC Capital is headed by KIT digital's interim chief executive and activist investor, Peter Heiland. The company's biggest lender, Western Technology Investments, would be paid $9 million and get new company stock valued at about $650,000. It is owed more than $19 million.

The plan would pay unsecured creditors in full and give existing shareholders the chance to buy new shares in the company, but both of those groups have questioned whether those goals are realistic.

Judge Gerber set an Aug. 5 hearing to consider confirming the plan.

A group of hedge funds that own shares in KIT digital complained to Judge Gerber that company officials "constrained access" to an online data room for potential buyers that might have challenged the deal. In its disclosure statement, officials disputed that accusation and said they are continuing "to evaluate alternative proposals as they are presented."

KIT digital officials, through a spokeswoman, declined to comment on Monday.

In earlier court papers, unsecured creditors accused KIT digital executives of being overly optimistic when they said the company could pay them back all of the roughly $14.9 million they are owed.

That debt amount doesn't include a $14.6 million claim asserted by a shareholder called Invigor Group Ltd., which said that it is owed

[kenbkb]

Your basic train wreck:


Shareholders accuse KIT Digital of data-blocking buyers


By Katy Stech, Dow Jones Daily Bankruptcy Review

Friday 21 June 2013


Judge to hear struggling online video specialist's reorganisation plan on 5 August.



Shareholders of struggling tech company KIT digital Inc. told a bankruptcy judge that critical details about the company's finances have been unfairly withheld from prospective buyers who may want to challenge the $25 million purchase offer led by KIT digital Chief Executive Peter Heiland's private-equity firm.

In court papers filed Wednesday, KIT digital shareholders said that the company, which makes software that supports online videos, could be missing out on better offers from bidders who've been turned away so far from an online-data room.

Two prospective bidders--Altamont Capital Partners and TMN Acquisition LLC--haven't been able to get access to the company's data room, and at least one bidder dropped out after concluding "that it will never get to a level playing field," attorneys for shareholders said in court papers filed with the U.S. Bankruptcy Court in Manhattan.

Click here to find out more!Specifically, shareholders said that potential bidders have been told by KIT digital that they need to promise a higher bid in exchange for access to the company's online-data room. That requirement has put the company and bidders at an impasse: bidders won't step up with offers unless they can see inside the company's finances, but KIT digital won't give access unless the bidders agree to provide a "superior bid."

"Neither [shareholders] nor...any bidder even knows the value of a bid required to gain that bidder access to information," shareholders said in court papers.

Shareholders said that access hasn't been a problem for groups behind the leading purchase offer, which came from Mr. Heiland's technology investment firm JEC Capital Partners and two other firms. That bidding group has been in a position to "enjoy boundless access to the [company] and up-to-date financial information," shareholders said in court papers.

In earlier court papers, KIT digital officials have disputed accusations that they are restricting access and said that they are continuing "to evaluate alternative proposals as they are presented." A company spokeswoman did not respond to an email seeking comment on Thursday.

Bankruptcy Judge Robert Gerber agreed to hear arguments on the matter Wednesday.

Shareholder concerns have been represented by a group of five investment firms, including Hudson Bay Master Fund Ltd., Mohawk Capital
...

[BrazenBull]

what the hell happened here today?