Pinnacle Business Management (Prev SRCI)

[Susie924]

I didn't mean to insult you but when I saw IBAFT in your siggy it just made me curious!

I already posted the SEC action on derf's board.

Not sure if he will ever see it though.

Do I know you by another alias?

[dia duit]

Another slap on the wrist I suppose?

Susie, I believe there is more to come. Hopefully the Feds will nail him this time.

Are you IBAFT?

I've never been so insulted in all my life!! LOL

Susie, I'm unable to post on Fung's board. He kept a good account of the carnage Turino's gang inflicted on penny stock investors. Would you be a dear and post the latest SEC action there? I'm sure Fung won't mind you updating the board. TIA

[Susie924]

Another slap on the wrist I suppose?

Are you IBAFT?

[dia duit]

SEC v. Pinnacle Business Management, Inc. et al., Civ. No. 8:02-CV-822-T-EAJ (M.D. Fla.)

SEC Seeks Contempt Against Jeffrey G. Turino for Violating Penny Stock Bar and Obtains Ex Parte Asset Freeze and Extension of Penny Stock Bar

http://www.sec.gov/litigation/litreleases/2008/lr20830.htm

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20830 / December 15, 2008
SEC v. Pinnacle Business Management, Inc. et al., Civ. No. 8:02-CV-822-T-EAJ (M.D. Fla.)
SEC Seeks Contempt Against Jeffrey G. Turino for Violating Penny Stock Bar and Obtains Ex Parte Asset Freeze and Extension of Penny Stock Bar

The Commission announced today that, following an ex parte hearing held on December 4, 2008, Judge Elizabeth A. Kovachevich of the U.S. District Court for the Middle District of Florida issued an order directing Jeffrey G. Turino to show cause why the Court should not hold him in contempt for violating a five-year penny stock bar entered against him on December 5, 2003, as part of a settlement of an earlier Commission enforcement action. The penny stock bar prohibited Turino from participating in any penny stock offering. In the December 4th order, the Court finds that the Commission had made a sufficient and proper showing that Turino had violated this bar by participating in penny stock offerings of Biotech Medics, Inc., Equitable Mining Corp., Global Diamond Exchange, Inc., Grand Entertainment and Music, Inc. and OMDA Oil and Gas, Inc. The Commission had previously issued orders temporarily suspending the trading in the securities of two of these companies, Equitable Mining Corp. and Global Diamond Exchange.

The order directs Turino to show cause why the Court should not hold him in contempt, should not require him to disgorge the unlawful proceeds from selling shares obtained in penny stock offerings, and should not make him subject to a permanent penny stock bar. Further, the order freezes certain bank and brokerage accounts held or controlled by, or in the name of Melissa Spooner, Robert Leslie, Mountain Passages, Inc., Austin Funding, LLC and CRL Holdings, Inc. Finally, the order extends the penny stock bar against Turino pending a final hearing on the show cause order.

The penny stock bar against Turino resulted from the Commission's May 8, 2002, enforcement action against Turino, Vincent Lo Castro, and a company they controlled, Pinnacle Business Management, Inc. SEC v. Pinnacle Business Management, Inc. et al., Civ. No. 8:02-CV-822-T-EAK (M.D. Fla.) The Commission's complaint alleged that Turino and the other defendants had made materially false and misleading statements in connection with a proposed spin-off of a Pinnacle business division, and charged them with violating the antifraud provisions of the federal securities laws (Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder). On December 5, 2003, Turino consented to the entry of a final judgment that permanently enjoined him from further violations of these provisions and imposed a $60,000 civil penalty, a permanent officer and director bar, and a five-year penny stock bar.

For additional information, see below:

* Litigation Release No. 17507 (May 8, 2002) (Filing of Enforcement Action Against Turino, Lo Castro, and Pinnacle Business Management, Inc.)
* Litigation Release No. 18506 (December 15, 2003) (Settlements with Turino, Lo Castro and Pinnacle Business Management, Inc.)
* Exchange Act Release No. 34-58271 (July 31, 2008) (Suspension of Trading in the Securities of Global Diamond Exchange, Inc.)
* Exchange Act Release No. 34-55420 (March 8, 2007) (Suspension of Trading in the Securities of Equitable Mining Corp.)



http://www.sec.gov/litigation/litreleases/2008/lr20830.htm

[pcjockey]

Vexari... I have no idea. I haven't kept up.

I find this interesting:

https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpSearch.aspx

Type Turino into the last name search field.

[Vexari]

have seen that somewhere before pcj

is he still roaming the streets?

[pcjockey]

re: Jeff Turino:

http://www.investorvillage.com/smbd.asp?mb=436&mn=13&pt=msg&mid=1472976

[Vexari]

does anyone know what happened to jeff turino?


just curious


had a brief association on a couple of projects pre pcbm..


anyone ever heard of zuma engineering?

[Koikaze]

Hi, Susie

I was reviewing some of the posts I'd saved because I liked them, and ran across Paulie's beaut. I couldn't resist putting it to use.

You're right, though. To me, being on this board is like visiting a house of ill-repute. It's almost as bad as posting on the Politics board.

Fred

[Susie924]

Did you take a wrong turn Fred?

I don't think I've ever seen you here!

I hope Christmas was Merry and I wish you and your family a Happy and Healthy 2007!

[Koikaze]

Lest ye ferget: #msg-15329669

Fred
(by special appointment)

[pcjockey]

fwiw... http://www.thejeffhowe.com Cheers and have a Merry Christmas.

[webmoney]

Fung, Are you taking more time off? I don`t think you`re taking your job here serious enough! JMO

[Dancing in the dark]

well, now i am kicking my own ass for selling so quickly.

[Susie924]

LOL...how cute!

[Dancing in the dark]

she's a little einstein maniac.
i come home, she ignores me until the video is finished!

[fung_derf]

Alrighty then.

[Susie924]

How's Sophia doing Boris?

[Dancing in the dark]

nah ... the other truck has barely 33k miles on it.

trying the old parlay ... moving the money over
to SONS for earnings report.

[fung_derf]

Is it time for a new pickup?

[Dancing in the dark]

took a 32% 6 digit profit out today.
held less than a month.

only need one or two of those a year.

yee haw!

[fung_derf]

You da man.

[Dancing in the dark]

once again, the standard one day warning before liftoff
(it's almost like i control it)

[fung_derf]

Congrats.....I've held ITWO for months waiting for it to go from about $16 to $20. Lo and behold this morning they come out with earnings, the stock tanks all the way to almost 16, then bounces back to 20. Who knew I could have made in a day what it took me 6 months to make.

[Dancing in the dark]

worked for almost 11% over 45 days last time!

[fung_derf]

Again?

[Dancing in the dark]

this board is the busiest HLS board i've found

http://www1.investorvillage.com/smbd.asp?mb=134&pt=m&clear=1

[Dancing in the dark]

fung
got my toes wet ... ok up to my knees
in CPNLQ. like it for a trade.

[BullNBear52]

Can't blame them for trying...

Court: Health South not due refunds on taxes paid during fraud
BIRMINGHAM, Ala. (AP) – Health South Corp. isn’t due a refund on property taxes it paid on bogus assets during some years of a huge financial fraud, a state appeals court ruled Friday.
The Alabama Court of Civil Appeals denied the company’s request to overturn a decision by a probate judge in Jeffer­son County, where the reha­bilitation and medical ser­vices company is based.
Health South, which re­turned to the New York Stock Exchange on Thursday after a 31/ 2 year absence brought on by the accounting scandal, claimed it should recoup an unspecified amount of money that it overpaid in property taxes in 2001 and 2002, the year before the fraud was un­c overed.
But the court ruled 5-0 that Health South could not now profit from the overstatement of earnings during those two years.
“Health South cannot be permitted to take advantage of its own wrong by receiving a refund based on its own in­equitable conduct,” said the decision by Presiding Judge John Crawley. “There is no eq­uity in allowing Health South to obtain relief from its own fraudulent scheme.”

[fung_derf]

Well I'm a bit surprised.

[Dancing in the dark]

apparently not ...
waiting for the 1q 2007 profitability and
division sales.

[BullNBear52]

5-1 reverse split means no movement.

[fung_derf]

Thank you very much.

[Susie924]

HealthSouth shareholders approve reverse stock split
Birmingham Business Journal - October 18, 2006by Kelli M. DuganStaff
Print this Article Email this Article Reprints RSS Feeds Most Viewed Most Emailed
HealthSouth Corp. CEO Jay Grinney said Wednedsay the company has formally placed its surgery and outpatient divisions on the block - issuing an offering memorandum for each - and expects to begin receiving bids within a week.

Birmingham-based HealthSouth (OTC Bulletin Board: HLSH) is one of the nation's largest providers of outpatient surgery, diagnostic imaging and rehabilitative health-care services.


Grinney's comments came moments after shareholders a special meeting Wednesday approved a 1-for-5 reverse stock split, converting every five shares of outstanding common stock to one share.

The vote to amend the company's restated certificate of incorporation and subsequent relisting on the New York Stock Exchange takes effect Oct. 26. The ticker symbol will be "HLS."

"When we ring that bell, I wish all 36,000 HealthSouth employees could be there ringing it simultaneously with us," said Grinney, adding that the company's employees have "weathered the storm" and enabled the new management to reposition the company.

HealthSouth announced plans in August to either spin off or sell three of its four operating divisions to lower debt and focus exclusively on its inpatient rehabilitation business. The sales or spinoffs of HealthSouth's surgery, outpatient and diagnostic divisions are expected to take at least a year to complete.

Grinney said HealthSouth has received a "tremendous amount of interest" from both financial sponsors and strategic buyers for the underperforming divisions.

Most proceeds from the sale are expected to be used to pay down debt, which was reported to total $3.3 billion as of June 30, 2006.

Grinney called the long-awaited stock relisting the "last step in the recovery" of the rehabilitation giant, which was savaged by a $2.64 billion corporate fraud uncovered in March 2003. Grinney has said in earlier interviews with the Birmingham Business Journal that he believes the fraudulent accounting at HealthSouth began soon after the company was established.

Richard Scrushy, HealthSouth's co-founder and longtime CEO, was fired in March 2003, after FBI agents raided the company's Birmingham headquarters as part of an investigation leading to multiple criminal charges against Scrushy and numerous other HealthSouth executives.

Scrushy was acquitted in a federal criminal trial in Birmingham last year, despite testimony by several former chief financial officers of the company that they - along with several members of the accounting staff - falsified HealthSouth's financial results on Scrushy's orders. Fifteen former employees, including five former CFOs of the company, pleaded guilty to criminal charges in connection with the fraud.

At Wednesday special shareholders meeting, HealthSouth Chairman Jon Hanson called the reverse stock split the latest milestone and a "powerful symbol of the progress we have made as a company."


Hanson said the reverse split will reduce the number of authorized shares of HealthSouth common stock from 600 million to 200 million, a move designed to accomplish the following:

Bring the share price, along with the number of shares of common stock outstanding, to a range more in line with other health-care companies with comparable market capitalization.
Broaden the pool of investors that are interested in investing in HealthSouth by attracting new investors who would prefer not to invest in shares that trade at low, single-digit share prices.
Make the company's common stock a more attractive investment to institutional investors.
Reduce the relatively high transaction costs and commissions incurred by its stockholders due to HealthSouth's current low per-share trading price and high number of shares outstanding.
Illustrate more effectively the impact of the company's operational improvements and cost reductions by enhancing the visibility of any changes in its reported earnings per share.
Grinney told shareholders at the special meeting: "The idea is to bring the number of shares outstanding in line with other health-care companies of comparable size."

Institutional investors and other potential volume buyers of the stock will be more likely to take notice once it is trading in the $20 to $30 range, he said.

Kelli M. Dugan can be reached at [phone] or e-mail her at [e-mail].

http://birmingham.bizjournals.com/birmingham/stories/2006/10/16/daily11.html

[fung_derf]

Yeah, but I can't find any information on the price conversion. Any help would be appreciated. It was around $5 yesterday.

[Susie924]

Holy Moly, is HLS the old HLSH?

Over $25 a share?

[fung_derf]

Does HLS take off today?

[Susie924]

LOL!

[janice shell]

LOLOLOL!!

[fung_derf]

Oh, and that was only half of the dream. I left out the part about the giraffe and the inner tube for obvious reasons.

[webmoney]

Susie924: I can`t post on the Derf's Grotto board.BUT I can read.
You do have to admire the derfs dreams. No?

Posted by: fung_derf
In reply to: ergo sum who wrote msg# 34044
Date:9/25/2006 1:40:18 PM
Post #of 34046

"Susie nudged me."

Derf

[fung_derf]

No, the fairways are too tight.

[dropdeadfred]

can I drive?

[fung_derf]

either way

[Susie924]

I hope you mean out of the stock!

[fung_derf]

I hope to be long gone by then.

[Dancing in the dark]

1st qtr 2007

[fung_derf]

How much time do you give it?

[Dancing in the dark]

there may be some trading opportunities there,
but the common appears destined for wipeout
with the pension(s) being dumped on PBGC

[fung_derf]

Have you looked at DALRQ?