Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Perhaps this will provide kldo the much needed incentive to update financials?
Kldo has not been revoked. This is the first good news we have recieved since suspension. If they completed investigation and didnt revoke we are headed in a better direction for now anyway!
oops, you're right. my bad.
So.....that's it I guess....This is now un tradable right??
Ugh
This shows its just revoking Versatech. It does not include the other companies listed within the "Matter of" box.
At least that is how I read this.
>how do any of us really know what a company is or is not doing?
IMO, the filings are the only place where they can't lie, and if there are no filings you truly do not know anything about the company.
Yes: I will lose almost $3 grand here. Ouch! KLDO: It was just one of my penny stocks on the back-burner ...as by all accounts from what we learned it sounded like its business plan was finally coming out this Spring.
So rack up another one on the side of capital gain loss to off set wins....and move on...lesson here? SEC can do this to any penny stock at any time -- how do any of us really know what a company is or is not doing? Dangerous market....but still love it.
Only thing I disagree with, and have said this before, the SEC should not just instantly send a stock to Greys as it just hurts small time investors and wipes out there money. They should have a 'warning tier' system of some kind, like 3 levels....level one they issue that says they are looking into Company X's affairs......level 2 they have found issues...level 3 they suspend.
the suspension was over at midnight. if it is not revoked before the open, it will be available to trade on the grey market today.
Suspension lifted, probably NOT trading anyway?
This is from the SEC bulletin on trading suspensions -
Why would the SEC suspend trading of a stock when it knows that such action will hurt current shareholders?
-------------------
The SEC suspends trading in a security when it is of the opinion that the suspension is required in the public interest and to protect investors. Because a suspension often causes a dramatic decline in the price of the security, the SEC suspends trading only when it believes that the public may be making investment decisions based on a lack of information, or false or misleading information. A suspension may prevent potential investors from being victimized by a fraud.
How can investors find out if the stock will trade again after a suspension?
------------------
Investors can contact the broker-dealer who sold you the stock or a broker-dealer who quoted the stock before the suspension. Ask the broker-dealer if it intends to resume publishing a quote in the company’s stock.
If there is no market to sell my security, what can investors do with their shares?
------------------
If there is no market to trade the shares, they may be worthless. Investors may want to contact their financial or tax advisers to determine how to treat such a loss on their tax returns.
This is what was done before
On July 13, 2009, the Commission filed its complaint against the Defendants
alleging that they violated the anti-fraud and registration provisions of the
federal securities laws by, among other things, conducting a “pump-anddump”
scheme in which the defendants used a false and misleading public
relations campaign to tout their client MitoPharm Corporation’s products. In
reality, the products did not exist. Otto sold MitoPharm stock at a profit
before its stock price plunged after the close of the promotional campaign.
Public company advertising services as existing and available when they aren't is stupid AND illegal.
What is happening now and what was happening then are two completely different things. Then was illegal. Now it's just stupid.
Hi Alydyr, thanks for your reply.
Good luck on all of your investments.
Best,
Bob
AAPT is gonna be huge. Do you even know how to do your own DD? This one will take off sooner or later.
Hi Tyler, any news from Ron on KLDO?-thanks.
Best,
Bob
(855) 247-5231 works. Tell Kate everyone says hi and
- are there any sales?
- is there a working product?
- what is the the current financial situation?
- what are your plans for making investors whole again?
They actually seem to be legitimate questions, in spite of all the glowing 'DD' - does everyone get it now?
does any one have kldo phone # as the number on otc markets posted is disconnected.
DD that sounds like a stock promotion is not DD. You have to take the bad news with the good news. If a public company has not filed in 5 years, then you know NOTHING about that company, no matter what anyone tells you. There is a reason that they got tagged as 'buyer beware', and this is the reason.
Wanna bet the whole PALS, kiosk, whatever gets sold to somewhere else or someone else, or given to someone in exchange for money owed, and the shareholders of KLDO get left holding an empty bag?
What a DISASTER here at KLDO. I'm glad I DID NOT listen to all of the STOCK PROMOTERS who have been PUMPING this thing HARD recently.
Hopefully, you folks have DUMPED all of your KLDO long before now.
Good luck.
Thanks for the info. on KLDO
http://www.otcmarkets.com/otc-pink/marketActivity/venue-changes
Officially on the GREY MARKET.
Yep you got it in 1
Funny, I was wondering the same thing last night. Could it be that the debt is owed to people named Otto and Selvers, people like that?
They are also involved in SARS (SARO) and have created the same mess there. I feel the SEC are powerless to stop these people. As I was told some time ago What they are doing is immoral but not illegal
You can be sure a lot of the debts will be due to lawyers and consultant fees and guess who these are
They've now been caught. They are going to have to file, and show the truth behind their finances, which, in the words of Ron Tate (according to a credible witness) - "It's a mess". Wonder how they are going to convert all those millions in debt.....
Or become a gray sheet stock and fold up the trading tent.
They are behind GBOE also
they aren't. they have been suspended and there is an administration procedure in process to revoke the registration.
I cannot understand how these guys are permitted to thumb their noses at the rules of the SEC
Otto has already marketed a non-existing product and the SEC accused him of fraud and he paid the charges without admitting or denying the accusation.
Now maybe somebody will believe me when I say this has and is a scam. I have experience of the guys who are behind this and this is an example of their modus operandi
When or if financials do come out, it will be very interesting to see what the current debt picture is. As far as I know, debt does not just go away, and it was in the millions last filing and KLDO lost a ton of money since then. It's not me, see the SEC suspension notice about that.
Ron Tate said "when he took over this shell it was a mess"? So why did he take it over? Read up on shell companies and what happens when uninformed people buy them, this exact circumstance is why so many of them blow away leaving shareholders with nothing.
And for the record, if "DD" doesn't include current financial information there is no "DD" at all.
Luckily i sold on the last run up.. But was waiting for trips to load back up
anyone here get caught in KLDO Suspension?
They also need a new lawyer. They have to appear at a hearing, and their current one - David Otto - is barred from those hearings until at least 2016. This is going to be expensive, more than the 40 -50k mentioned earlier.
9. As discussed in more detail above, all of the Respondents are delinquent in their
periodic filings with the Commission, have repeatedly failed to meet their obligations to file
timely periodic reports, and failed to heed delinquency letters sent to them by the Division of
Corporation Finance requesting compliance with their periodic filing obligations or, through
their failure to maintain a valid address on file with the Commission as required by Commission
rules, did not receive such letters.
With all due respect, you CANNOT keep these conversations private - at all.
Best of luck to everyone that owns stock in KLDO, and I mean it. But - as you said - this is a public company, and they have to follow the rules just like everyone else.
Ignorance on their part is no excuse whatsoever, they are being advised by Otto Venture Capital, one of whom is the VP of Operations for KLDO. The "I didn't know" explanation is a very, very, troubling sign.
If SEC gets wind of their marketing a product that hasn't existed there will be more trouble.
What are you talking about? If they didn't have to do any of that stuff the stock would still be trading. Maybe it turns out that filing is important after all?
. They do not have to file with SEc
yes, they do. that is why they were suspended.
Thanks tyler, we will see what happens. I have a hard time thinking this is just a scam because of no dilution, what's the point. I still think we will be looking pretty smart in a few months. Call me an eternal optimist, maybe that is why i am a farmer. Good luck.
They are a pink sheet company, all they have to do is file and be current with otc markets. They do not have to file with SEc and they do not have to be audited. This will not take that long or that expensive, very disappointed in company and the people who say they did their DD. Maybe some day it will get off the grays but if he is just getting his act together now, it is not any time soon. Disgusting on management.
KLDO - First I would like to say that I am right there with everyone else when I say I was completely taken a back by today's announcement. I had known Ron's intentions were to update everything in regards to becoming current as the business progressed and Sales began. I have been in contact with the company, probably speaking to them on average once a month over the past 9 months, with most of that being in the past 2 months. Many of you have seen my complete correspondence with Ron and the companies counsel. There have been zero warning signs on my end, and plenty of progress that the company is currently going through. In fact, I haven'tt sold a share in 2013, and have only bought. I can prove that if anyone needs me to. I have under 50k short of 11 million shares, which is close to $20K tied up in KLDO. That is a ton of money to someone like myself, and I know many of you as well.
I called Ron personally today. 95% of our past correspondence was via email over the course of several days. Those of you that know Ron's background, understand that he essentially ran several gyms in his past before coming CEO. In March of 2012, he took the CEO position with KLDO, in an effort to produce, launch, and sell Kiosk software. He had never run a public company before. Recently, throughout 2013, many strides had bee made in this area. KLDO was and is currently very close to some very, very big things. Today I emailed Ron as soon as I found out. Within 30 minutes of that, I called Ron. Ron answered, I told him who I was, and he asked me to hold as he let another person go. He clicked back over and told me that this was news to him, and that he called KLDO's counsel and that is where he was planning to go later that day. Ron called me back around 1:30 PM. I asked him about what his plans were. He told me that they hadn't gotten any Dilequincy letters and that this was a complete shock. He told me he took over this shell and it was a mess and that he wasn't the slightest bit concerned about filing because frankly their was nothing to report and to waste their money on at that time. That the plan was always to get current as business started rolling in. Again, Ron's fault here as CEO is not being versed in this side of the business and at the time, I agreed that his thoughts made sense. Now, as far as filing, they aren't completely blind here. The were in the process of gathering someone to make them current, letting me know that it will cost roughtly 40 to 50k to do it, but they had already gotten quotes and identified potential people. They were/our seriously, from a Sales standpoint, on the verge of a launch that could bring them millions in revenues immediately in a quarter (my estimation, but I don't feel that I am excaggerating). I told Ron that he may not feel the pressure, but I am getting a ton of it to explain what their action plan was. He told me he understood and that they are formulating a letter as we spoke in response and that this is just another hurdle that he would have to overcome with this company since his inception. He had ways to pay for the financials and that he would continue to progress the company as he had been doing. Tomorrow, I will call and see what progress had been made. You all are welcome to do so as well. The last thing I want, is to not only lose my investment, but jeopardize everyone else's because they are listening to me for themselves. I am being 100% transparent, and I'm being honest when I say that I have seen this company trading at the $0.05 level and beyond this year based on the information I had. At this point, that's obviously a tainted picture, but I remain optimistic that they tackle this hurdle. The nice part is, if they do tackle it, they will be serious about progressing from that point forward as from what I have been told, which is documented, that very very large things are on the horizon. Again, KLDO to me had zero reason to keep responding to me ast they weren't diluting, nor would he answer, call me back, and continue to talk to me after today's announcement. I hope to have more info moving foward, but again, I encourage anyone that is curious to find out more to contact the company. Best of luck, and I truly am sorry for the added stress here. I've been a transparent middle man, and am just relaying communication I have had and I would bet I own more shares here than anyone else.. If this challenge gets resolved, their is no doubt in my mind that KLDO will be a success. The question is, will this get resolved, and when? I will push and do my best to get some much deserved answers as time goes on.
PS - I don't think they are as far off as some may think as they had financials done, but not filed with SEC. http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=68977" rel="nofollow" target="_blank" >http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=68977[tag]Link[/ta
Unfortunately this stock is probably going to the grey sheets. Seen suspensions like this ending up there.
Se La Vie.
KLDO - 2 week suspension
Suspension of Trading
May 22, 2013
OTC Disclosure & News Service
Washington, D.C. -
U.S. SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 69617 / May 22, 2013
The U.S. Securities and Exchange Commission announced the temporary suspension of trading
in the securities of the following issuers, commencing at 9:30 a.m. EDT on May 22, 2013 and
terminating at 11:59 p.m. EDT on June 5, 2013:
?Bloggerwave, Inc. (BLGW)
?Cardima, Inc. (n/k/a CLI Liquidating Corporation) (CADMQ)
?Innuity, Inc. (INNU)
?Kaleidoscope Venture Capital, Inc. (KLDO)
?Lipid Sciences, Inc. (LIPD)
?Radix Marine, Inc. (RDXM)
?SBS Interactive Co. (SBSS)
?VersaTech, Inc. (n/k/a VersaTech USA) (VRST)
The Commission temporarily suspended trading in the securities of the foregoing companies due
to a lack of current and accurate information about the companies because they have not filed
certain periodic reports with the Commission. This order was entered pursuant to Section 12(k)
of the Securities Exchange Act of 1934 (Exchange Act).
The Commission cautions brokers, dealers, shareholders and prospective purchasers that they
should carefully consider the foregoing information along with all other currently available
information and any information subsequently issued by these companies.
Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at
the termination of the trading suspensions, no quotation may be entered relating to the securities
of the subject companies unless and until the broker or dealer has strictly complied with all of the
provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it
should refrain from entering quotations relating to the securities of these companies that have
been subject to trading suspensions until such time as it has familiarized itself with the rule and
is certain that all of its provisions have been met. Any broker or dealer with questions regarding
the rule should contact the staff of the Securities and Exchange Commission in Washington, DC
at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule,
the Commission will consider the need for prompt enforcement action.
If any broker, dealer or other person has any information which may relate to this matter, they
should immediately communicate it to the Delinquent Filings Branch of the Division of
Enforcement at (202) 551-5466, or by e-mail at DelinquentFilings@sec.gov.
KLDO: SEC Suspension:
http://www.sec.gov/litigation/suspensions/2013/34-69617.pdf
Order:
http://www.sec.gov/litigation/suspensions/2013/34-69617-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2013/34-69618.pdf
KLDO has been advertising products as being available for at least 9 months now. The products have not been available. This is a public company, run by people who supposedly know better - because they have been caught before.
Anyone else have a problem with that?
People listen to whomever they want. It's a free country.
Fact is, there are no financials, fact is, there is no proof of a product, no proof of sales, no communication from a public company. If people are ok with ignoring those facts, that's fine.
Downwards to 0.0001
Followers
|
60
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
3956
|
Created
|
03/11/07
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |