Potnetwork Holdings Inc. (fka POTN)

[Locksmith]

Not yet. Emailed updates usually come out a day later, or so. I did not attend/listen in.

[Ttoozak66]

Any news on the restitution hearing?

[Randyfloyd420]

I bet he wears a little hat

[Locksmith]

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

[Ttoozak66]

Has everyone now accepted a deal or is there still going to be any trials.

[Locksmith]

New sentencing dates:

The sentencing for Yosef Biton, has been set for January 3, 2024, 11:00 AM ET
The sentencing for Dror Svorai, has been set for January 4, 2024, 11:00 AM ET

[Locksmith]

New sentencing dates:

The sentencing for Yosef Biton, has been set for January 3, 2024, 11:00 AM ET
The sentencing for Dror Svorai, has been set for January 4, 2024, 11:00 AM ET

[Huggy Bear]

Not near enough.

[TB]

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

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172732873

[CashBowski]

No problem :)

[Locksmith]

Got it. Thanks again.

[CashBowski]

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.

[Locksmith]

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?

[CashBowski]

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.

[Locksmith]

Yes, saw that too.

Being legally illiterate, it that a one and done or the beginning of another set of court dates?

[CashBowski]

More importantly he got a restitution hearing scheduled for November 21, to squeeze him for what he stole from shareholders.

[Here Today]

Hope they play “Cornhole” with his ass while in prison!!!

[Locksmith]

Hagan got 1 year + 3 yrs probation and a $15k fine.

SMH

[Cold Italian]

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.

[Here Today]

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?

[TB]

sorry. game over https://www.otcmarkets.com/stock/LCLP/profile

[Here Today]

Hagen’s I believe at 3pm

[Ttoozak66]

Just curious if there is a sentencing hearing today.

[retired early]

Bought tons @ 6 . Watched it go to 92 ( whisper was it going to 3.00 ) and finally pushed the sell at 23. Big regret but I was greedy and learned some. Most here learned some. :(

[TB]

Periodic Report



https://www.sos.state.co.us/biz/ViewImage.do?masterFileId=20171182699&fileId=20221595657

https://www.sos.state.co.us/biz/BusinessEntityHistory.do?&cmd=passgo&pi1=2

[Propain]

They should just push all the sentencing dates out until death. The Federal courts are a joke.

[Locksmith]

Hagan’s sentencing date has been pushed to 8/28/23.

[Brazman]

Any lawsuit against these scumbags still out there?

[Ttoozak66]

I know this is dead but still wondering on court cases would like to see that they get punished!!!

[billytbone]

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.

[sgpihub]

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.

[lucky, mydog]

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.

[Ttoozak66]

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.

[Propain]

I think its over. Can't buy or sell under either symbol. Sorry.

[ArcArsenal]

So, what happens going forward if you still own POTN shares? Is there a chance they ever have any value again? I was down so much that I decided to ride it out until the bitter end. Seems like this might be the bitter end?

[CashBowski]

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.

[Lime Time]

Thanks. Was wondering how this was going to play out.

POTN gone.

[help me]

Revoked registration: POTN

https://www.sec.gov/litigation/admin/2023/34-97676.pdf


doing some reading glad I am not long here.

[Cold Italian]

Yeah two years worth investigation didn’t hinder POTN’s ability operate?

[lucky, mydog]

The criminals manipulated the stock

that's not why this was revoked. it was revoked for delinquency.

[Cold Italian]

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.

[Here Today]

Also the (FKA POTN) on the IHUB board was another signal that the SEC Registration was pulled.

[TB]

Game over https://www.otcmarkets.com/stock/POTN/security

[TB]

WARNING 04/06/23 https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171632605

[lucky, mydog]

The Securities and Exchange Commission (“Commission”) deems it necessary and
appropriate for the protection of investors to accept the Offer of Settlement submitted by
DIAMOND WELLNESS HOLDINGS, INC. (“POTN” or “Respondent”)

that means the company agreed to revocation. that's important. it leaves the door open for becoming a public company again. if they get their finances in order they can file a form 10 registration and become public again. right now, it is a private company.

[lucky, mydog]

forms 15 are only supposed to become effective if a company is current. they are not designed to get out of being delinquent.

[Here Today]

Yeah just found it as well. Thanks.

[lucky, mydog]

say bye bye to potn.

[Renee]

POTN SEC registration revoked:

https://www.sec.gov/litigation/admin/2023/34-97676.pdf

[Here Today]

Looks like the SEC and OTC pulled POTN from being accessed on the OTC Markets website unless it’s something with my system. Anyone else notice that they are no longer pulling up on the OTC website?