Mobile Area Networks, Inc.(fka MANW)

[Renee]

MANW revoked:

http://www.sec.gov/litigation/admin/2015/34-74907.pdf

[Renee]

MANW, November 25,2014: SEC Admin Law Judge Initial Decision to revoke Mobile Area Networks registration.

Very important to read the ALJ's reasoning and the ALJ addresses all of the recently filed, previously delinquent 10K's and 10Q's.

http://www.sec.gov/alj/aljdec/2014/id709jeg.pdf

[Wisebuys]

Any updates from the SEC ?

[Renee]

The SEC A.L.J. doesn't usually elaborate in Initial or Final Rulings when all companies in a Proceeding have failed to satisfy the Admin Proceeding ordering Financials.

Since MANW has filed all delinquent Financials, including the audited 10K's, the SEC A.L.J. is considering whether to permit MANW to continue as an SEC Registrant or to still revoke the stock registration. This is a rare occasion where an SEC Suspended company (for Financials delinquencies) has attempted to comply with the concomitant Admin Proceeding. PELE also complied with the Admin Proceeding but their 10K's and other Financials were deficient and the SEC A.L.J. did not give the company any wiggle room to satisfy any of the deficiencies and the stock was revoked.

I think the SEC A.L.J.'s ruling will sway on whether MANW's audited Financials are completely adequate and accurate with no deficiencies whatsoever, or the stock would likely be revoked on the zero wiggle room similar to PELE. And if MANW is permitted to remain an SEC Registrant I surmise the SEC will have zero tolerance for any future Financials delinquencies.

The brackets comments are mine and hilited in red.

Excerpts: (the consideration to permit MANW to remain an SEC Registrant)

The Commission “consider[s], among other things, the seriousness of the issuer’s violations, the isolated or recurrent nature of the violations, the degree of culpability involved, the extent of the issuer’s efforts to remedy its past violations and ensure future compliance, and the credibility of its assurances, if any, against further violations.

Excerpt: (the consideration to revoke MANW's registration because of past delinquencies and harm to investors)

The Seven Respondents’ failure to file required periodic reports is serious because it violates a central provision of the Exchange Act. The purpose of periodic reporting is “to supply investors with current and accurate financial information about an issuer so that they may make
sound [investment] decisions.” Id. at *26. The reporting requirements are the primary tool that Congress fashioned for the protection of investors from negligent, careless, and deliberate misrepresentations in the sale of securities.

The Seven Respondents are also culpable because they failed to heed delinquency letters sent to them by the Division of Corporation Finance..

[Wisebuys]

What does this mean in English??????

[Renee]

October 23, 2014 SEC Admin Law Judge ruling. Interesting comments about MANW, but read the entire Ruling.

http://www.sec.gov/alj/aljdec/2014/id699jeg.pdf

[Renee]

The SEC Admin Law Judge is reviewing MANW's appeal(s) to remain an SEC Registrant company. The submitted Financials bodes well for MANW, but from reading over 1200 revocation rulings the SEC Admin Law Judge comments that past delinquencies of filing obligations (ie., Financials) denied investors entitled information of a company's performance and financial condition during the years of reporting delinquencies. As such, it may still be too late to circumvent revocation of MANW's registration, but this is the first stock out of 1200 previously revoked registrations that has attempted to comply with the SEC's Admin Proceeding that was filed in conjunction with the SEC Suspension.

I will post the SEC A.L.J.'s ruling when it is filed.

[Wisebuys]

Is this positive or negative news?

[Renee]

MANW: SEC Admin Law filing:

http://www.sec.gov/alj/aljorders/2014/ap-1905.pdf

[sidedraft]

Sure, but did you read their numbers?

http://ih.advfn.com/p.php?pid=nmona&article=63979931&symbol=MANW Pages 3-5

[cotf]

Sidedraft - if you read 10Q's for penny stocks regularly you will see that boilerplate text ALL the time, it's not just specific to MANW

[sidedraft]

A 10-Q was filed today, nasty:

Note B   -   Going Concern 
  
 The Company’s financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has reported a net loss of $30,731 and $31,430 for the three months ended March 31, 2014 and 2013, respectively. As a result, there is an accumulated deficit of $7,027,509 at March 31, 2014. The primary causes of the loss for 2014 and 2013 are principally attributable to a lack of profitable operations. 
  
   
  
 The Company’s continued existence is dependent upon its ability to raise capital and/or achieving profitable operations.  The Company previously wound down internal manufacturing operations with the intent to outsource any orders, and is seeking a merger partner.  The Company plans to raise sufficient working capital through equity offerings and restructure debt to lower its monthly payments and interest costs. The Company continues to fund operational deficits through the acquisition of debt and equity financing through private individuals. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

http://ih.advfn.com/p.php?pid=nmona&article=63979931&symbol=MANW

[Renee]

Absolutely, Wisebuys....todays 10K for 2013 goes a long way to appeasing the SEC Admin Law Judge. Even if the SEC A.L.J. proceeds with revocation by Settlement it appears that MANW would be able to file a Form 10 re-registration filing.

Too late? I hope not, for shareholders' sakes!!!

[Wisebuys]

MANW more filings, what's your take does it look more promising?

[Renee]

I'll keep my fingers crossed that MANW survives and is that one in 1127 stocks that have been revoked in the past 4 3/4 years.

[Wisebuys]

I think MANW will be from that 1 in a million that comes off of grey sheets....lets see....don't forget he was in the middle of merger talks.....

[Renee]

Maybe MANW has been negotiatin' with the SEC. My hunch is that MANW will agree by Settlement to not oppose an SEC A.L.J. revocation of the stock and then the company files a Form 10 to include the 2013 past due Financials to apply for a new stock registration.

Worth watching to see the SEC A.L.J.'s response.

[sidedraft]

The 10-K filed this morning is for the period ending 12/31/2012. Shouldn't the SEC ask, "where is the 10K for period ending 12/31/2013"?

http://www.sec.gov/cgi-bin/browse-edgar?company=mobile+area+networks&owner=exclude&action=getcompany

[Renee]

On watch: MANW was suspended On September 15th, 2014 for Financials delinquencies. The stock was reinstated on the Grey Market and begins trading today.

This morning MANW filed their past due 10K and two past due 10Q's.

Is it too late or will todays filings satisfy the SEC Admin Law Judge?

http://www.sec.gov/cgi-bin/browse-edgar?company=mobile+area+networks&owner=exclude&action=getcompany

Reference:

MANW SEC Suspension:

http://www.sec.gov/litigation/suspensions/2014/34-73088.pdf

Order:

http://www.sec.gov/litigation/suspensions/2014/34-73088-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2014/34-73089.pdf

[Renee]

MANW reinstated to Grey Market and trading resumes today. MANW filed their 10K and past due 10Q's today, however it is likely too late for the company to circumvent an SEC Admin Law Judge ruling to revoke MANW's stock registration.

Buyer caution advised until the SEC Admin Law Judge rules on prior Financials delinquencies.

[cotf]

Filings this morning - good sign they are coming out of here suspension ditch

[Renee]

Wisebuys....a post that I wrote on the Delinquent SEC Filers board:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105894805

The board: ***The 4th sticky is very applicable.

http://investorshub.advfn.com/Delinquent-SEC-Filers-28864/

[Wisebuys]

Any idea if filing a 12-g at this point helps?
I spoke to ceo just the other day and he said he was negotiating with a merger partner. Is it too late to remove the suspension - eventual delisting?

What steps can he take to reinstate the stock?

Thanks in advance for any info you can provide!

[Renee]

MANW SEC Suspension:

http://www.sec.gov/litigation/suspensions/2014/34-73088.pdf

Order:

http://www.sec.gov/litigation/suspensions/2014/34-73088-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2014/34-73089.pdf

[ash111]

Great update.one of the thinnest out there

[Wisebuys]

Got email from CEO, they are doing a private placement. Merger news should be any time now. 2.2 million float!
2 new market makers just showed up on the ask.

[ash111]

http://search.sunbiz.org/Inquiry/CorporationSearch/GetDocument?aggregateId=domp-p97000103021-bef1a02c-0f3b-424f-9508-e144b4a01082&transactionId=p97000103021-760f3dfd-d3a5-43ee-8af7-596ee38bb2a9&formatType=PDF

[ash111]

nice hits after huge accumulation...

[HDOGTX]

MANW .011 high volume alert

[ash111]

ACTIVE FL.SOS: Florida Profit Corporation
MOBILE AREA NETWORKS, INC.
Filing Information
Document Number
P97000103021
FEI/EIN Number
593482752
Date Filed
12/08/1997
State
FL
Status
ACTIVE
Effective Date
11/28/1997
Principal Address
2772 DEPOT STREET
SANFORD, FL 32773

Changed: 04/21/2004
Mailing Address
P.O. BOX 950354
LAKE MARY, FL 32795

Changed: 08/30/2012
Registered Agent Name & Address
HOEFT, JERALD R
2772 DEPOT STREET
SANFORD, FL 32773

Name Changed: 04/20/2006

Address Changed: 04/21/2004
Officer/Director Detail
Name & Address

Title DP

WIMBISH, GEORGE CEO
2772 DEPOT STREET
SANFORD, FL 32773

Title VT

HOEFT, JERALD RCFO
2772 DEPOT STREET
SANFORD, FL 32773

Title VS

WIMBISH, JUDY D
2772 DEPOT STREET
SANFORD, FL 32773

Annual Reports
Report Year Filed Date
2011 04/21/2011
2012 08/30/2012
2013 09/26/2013

[SuperC]

MANW .0075 1.6mil vs 2k_vol10dayavg and more... http://www.profitspi.com/stock/view.aspx?v=price-and-chart&p=15776&i=MANW&pv=recent-symbols&pp=MANW#&&vs=635041668958429746

[prophetaker]

Interesting...one of the directors owns a
software company!!

[ptosdreamer]

They have supposedly signed a contract with a guy who has a product they are going to produce. He will become a major share holder in exchange for the product. Supposedly, they are waiting until after their financials to announce so it doesn't screw up last years books. Seems weird but my source is fairly reliable. As you see, on Feb 5 until now some action has taken place.

[prophetaker]

Why, whats going on with this stock?

[ptosdreamer]

It is time to buy. You will see some action in March.

[Renee]

OTCBB info on MANW :


http://www.otcbb.com/asp/dailylist_detail.asp?d=10/13/2010&mkt_ctg=OTCBB

http://www.otcbb.com/asp/dailylist_detail.asp?d=10/13/2010&mkt_ctg=NON-OTCBB

[Roy London]

nite at .048 on the ask

[Roy London]

nite at .006 on the bid

[Roy London]

crazy low float

[Roy London]

this stock could make a sick move

[AliAngel]

lonely board

[AliAngel]

computers

[AliAngel]

might look at it

[AliAngel]

new ewbsite