Not yet. Emailed updates usually come out a day later, or so. I did not attend/listen in.
I bet he wears a little hat
A status hearing is scheduled for April 25, 2024, 02:00 PM ET for defendant(s) Charles Vaccaro, Dennis Ruggeri, Gary Berlly.
A trial is scheduled on June 3, 2024, 09:00 AM ET.
The sentencing hearing for defendant(s), Eli Taieb, has been set for January 3, 2024, 02:00 PM ET
Not near enough.
Kevin Hagen CEO of POTN (now defunct) got sentenced to:
Incarceration of 1 year and 1 day
Followed by supervised release of 3 years
Special assessment of $100
Fine of $15k
Plus, there’s a restitution hearing set for November 21, 2023
Got it. Thanks again.
It’s a single superseding indictment, which involves all these people commingling pubcos and their perspective roles that tied them to the financial criminal charges. I would say it’s all going into a fund and then distributed at the conclusion of the case. Idk what formula they’ll use, or if it’s X$ = Y% or some complicated differential scale.
Thanks Cash. Do you know if they will pool the assets and claims across all the cases, or do they go sequentially so the ‘last’ case potentially has nothing to distribute?
Another set, but I don’t think it’ll be long. This is when they go for the assets to try to recoup losses for those that submitted a claim. It’ll all go into a pot with all the other defendants and then whatever they can squeeze out will be distributed.
Yes, saw that too.
Being legally illiterate, it that a one and done or the beginning of another set of court dates?
More importantly he got a restitution hearing scheduled for November 21, to squeeze him for what he stole from shareholders.
Hope they play “Cornhole” with his ass while in prison!!!
Some one should write a book on the POTN story, and how all this played out in the context of the CBD craze, while investors can get their investment hijacked by bad actors.. Furthermore, the bad actors are able to use the legal system to drag this out, to their at least short term benefit. I get penny stocks are highly volatile, and this could be a glaring example to educate the public, while also shedding light on how our current system is structured, and could be improved? I for one would having followed it from the beginning would love to know exactly what happened especially in light of the fact we see the same company operating a website, and apparently still has some kind of retail distribution element as well operating. Would it be too much of an indictment of the penny stock industry for all of this to come to light? It seems to me to be a very teachable moment on the perils of investing in penny stocks.
And what does have to do with the question that was asked and the response that I gave? Only connection I see is that it is another stock that has the same legal counsel as what POTN had which is non other than Jonathan D. Leinwand. Are you trying to say that whatever stock Jonathan D Leinwand is involved with is a scam or pump and dump?
Hagen’s I believe at 3pm
They should just push all the sentencing dates out until death. The Federal courts are a joke.
Greed kills, every time.
You should have at the very least sold enough while the big profit was there to get your original investment out.
ArcA, I was and am in the same boat. I was giddy back in the day, watching my account gain $10k, $12K a day during the pump. I thought it could go on to $10 a share. such lessons we learn.
I thought, it went up, it's coming down, but it'll go back up again. NOT !! I am stuck, down $50k. Maybe it will trade again, who knows.
you now own shares in a private company with no market to sell them. in order to sell them now you would have to arrange some type of private transaction.
The Company could get back on exchange with filing a new form 10 if they can become compliant. But I would not hold my breadth on that!!! they still are selling product so it is still a possibility.
I think its over. Can't buy or sell under either symbol. Sorry.
That was really quick! It seems they didn’t want to drag it out and went out willingly. I guess being agreeable helps if they want to file a form 10 in the distant future.
Thanks. Was wondering how this was going to play out.
Revoked registration: POTN
doing some reading glad I am not long here.
Yeah two years worth investigation didn’t hinder POTN’s ability operate?
The criminals manipulated the stock
that's not why this was revoked. it was revoked for delinquency.
So the SEC protects the public by wiping out the POTN shareholders? The criminals manipulated the stock not the shareholders, meanwhile the company is still operating. It makes no sense, nor did dragging out the investigation over years when it was pretty obvious within months who was actually responsible for wrong doing.
forms 15 are only supposed to become effective if a company is current. they are not designed to get out of being delinquent.
Yeah just found it as well. Thanks.
say bye bye to potn.