Potnetwork Holdings Inc. (fka POTN)

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that's not why this was revoked. it was revoked for delinquency.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

[CashBowski]

Thanks Lock. Saved me a search :)

[Locksmith]

The hearing is scheduled for 10/3, so the court can determine ‘if there are issues that the Court needs to address and to schedule any necessary future court dates’.

That’s all that was said in the notice I received.

[CashBowski]

I think pretrial is scheduled for October. I have to go back and check exact date.

[Here Today]

Seems like there is an issue with Berly, Ruggeri & Vaccaro with a status hearing now for later in the year? Anyone else get a notification?

[CashBowski]

Whatever preferred shares held by those indicted should be cancelled, and if they were converted, then whatever number still held should be cancelled and returned to treasury. The company should’ve requested a NOBO list and contacted the TA to lock down the shares by now. The company is who needs to follow through with ensuring the book is closed on those shares… It’s their fiduciary responsibility.

Another problem here is the SEC administrative proceedings, with possibility of revocation, or 12 month suspension. The SEC letter was issued after they filed their form-15, so I’m not sure if they’re ignoring it altogether, or will take it into account as a defense for possibly the lesser of the two outcomes, or allow them to continue trading as non-sec registrant.

These SEC proceedings take a while to resolve. In my experience around 8+ months.

[Here Today]

Hello CB. What’s your opinion on if all the Preferred Shares that Kevin Hagen and Eli Taieb’s daughter Elinor Taieb supposedly have will be forfeited now that Kevin has pleaded guilty to Securities Fraud and also with Eli Taieb’s upcoming guilty status and the possibility Elinor received those Preferred Shares in my opinion through one of her father’s shady deals?

[Here Today]

I’m wondering if all the Preferred Shares that Kevin Hagen and Eli Taieb’s daughter Elinor Taieb supposedly have will be forfeited now that Kevin has pleaded guilty to Securities Fraud and also with Eli Taieb’s guilty status and the possibility Elinor received those Preferred Shares in my opinion through one of her father’s shady deals…..

Will be interesting to see how everything unfolds in the coming weeks/months.

[Ttoozak66]

I don't disagree!!! Just happy that they at least responded will see if they actually release financials by 6/30/2023 as stated.

[Locksmith]

That is so laughable. It looks like that document was taken out of the trash.

Inept, at best.

[Ttoozak66]

https://www.sec.gov/files/litigation/apdocuments/3-21376-2023-05-12-respondent-diamond-wellness-holdings-answer.pdf

[Ttoozak66]

Respondent's Answer to Order Instituting Proceedings

3-21376-2023-05-12-respondent-diamond-wellness-holdings-answer.pdf
Copy and put in SEC website to see response

[cuckoo 4 cocoa puffs]

I know that Diamond CBD is still in business; they emailed me an advert for Memorial Day deals.

[Cold Italian]

Broken link?

[Ttoozak66]

Diamond Wellness Holdings, Inc.
https://www.sec.gov/litigation/apdocuments/3-21376-2023-05-12-respondent-diamond-wellness-holdings-an

[Ttoozak66]

Does anyone have some updates on this stock? Is all hope lost.

[Lime Time]

Yes. The entity remains and there are no shares registered to revoke.

That's what I'm saying. Will the Form 15 go effective before the Law Admin Judge can revoke the registration?

I thought I saw this scenario before with another ticker but can't remember it.

[billytbone]

Yes there is the entity remains.

[Lime Time]

Yes, but if the Form 15 becomes effective before revocation is executed, then there is nothing for the SEC to revoke. That's what I'm trying to get at.

[billytbone]

Form 15 removes them from being a SEC registrant, it can still be revoked at any time.

[Lime Time]

So who wins this tug o war?

Does the Form 15 beat the revocation or visa versa?

[Locksmith]

Hagen pled guilty to Conspiracy to Commit Securities Fraud on 5/3/23. Sentencing is scheduled for 8/23/23.

[Ttoozak66]

Can anyone give the possible outcomes for Investors

[Locksmith]

Biton plead guilty to Conspiracy to Commit Securities Fraud yesterday. Sentencing is set for 8/16/23.

[Ttoozak66]

And now the end is near
And so I face the final curtain
My friend, I'll say it clear
I'll state my case of which I'm certain

[Lime Time]

Oh wow. Zap Attack in progress.

Thanks for update.

[lucky, mydog]

maybe not.

[Renee]

POTN: SEC Admin. Proceeding for severely delinquent Financials:

https://www.sec.gov/litigation/admin/2023/34-97330.pdf

[Locksmith]

Vaccaro’s hearing scheduled for 5/2 will now be a private call between the court and legal team.

[CashBowski]

Taieb’s sentencing has been rescheduled from May 2nd to August 3rd.

[Locksmith]

Hagen is scheduled to enter his guilty plea on 5/3.

[CashBowski]

They filed a form-15 to delist from SEC reporting requirements. They’ll continue to be quoted/trade as a non-SEC reporting pink sheet on OTCM marketplace.