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NewMarket Technology Webcast:
2011 Updated Business Plan Presentation (May 2, 2011)
http://www.newmarkettechnology.com/wc_20110502.htm
500 million authorized.
The company has started revenue generation just last quarter, give it time.
No, I was referring to the share price.
The technology, and the people that come with it, make this company a gem, and in a new space....wow
Of course you know this is a startup right ??
Several dollars is what I see.
This company jumps on correct imlementation of its AR software.
A companies that uses the platform will benefit from this incredible product.
Don't worry , be happy now
Have you read about the law suit the company has filed against market manipulators ?
It seems that some negative posters might have been hired to bring down the value of the stock.
It also seems that naked share price manipulation might have caused the fall in price, and difficulty in business plan progression thereafter.
No worries though, it all seems to be correcting.
"This is a new day for Getfugu," said Rich Jenkins, the Company's Co-Founder.
"The floodgates have been opened for a host of new business opportunities that
have been held up because of these spurious and unfounded claims. We expect now
to be able to swiftly activate our business plan, which emphasizes Augmented
Reality in commerce, entertainment, sports, and even politics."
Getfugu Announces Launch of Version 3 Application for iPhone, iPad and Android November 15
Getfugu, Inc. (OTCBB: GFGU), the next generation mobile search tool, today announced that it will release its latest iPhone, iPad and Android application on November 15, 2010.
Steve Carroll, Getfugu Chief Technical Officer, said, "Version 3 is novel and represents a commercial step forward. It will spotlight our new affiliate program, carry a better, faster, more streamlined consumer experience and provide more live data to advertisers. We will also be introducing a live Augmented Reality (AR) channel. Getfugu is an aggregator of technology so this channel will feature technologies from many of the established players in the market. Each release of our application will feature more and more technology providing greater value to the consumer. During the coming quarter, we will be adding several new technologies to the platform. Upcoming features include music, UPC and ISBN barcode, QR code recognition and live feature tracking."
In addition to technology, Getfugu continues to signup business customers. Each business that joins Getfugu adds value to the proposition and delivers real savings and value for the consumer.
"Getfugu has grown in the last quarter. It has added new business customers, increased the download rate and added new technical features. The pace of this growth is accelerating and we are racing to add value to the consumer. We do not want to be just another application that consumers download and use once then never use again. Our technical and business model can deliver sustainable value and we intend to focus on becoming the application that consumers reach for first," says Carl Freer, President, Getfugu, Inc.
About Getfugu
Getfugu, Inc.'s revolutionary "See It, Say It, Get It" technology is the first carrier agnostic, platform agnostic mobile search platform. Getfugu will change the way people access the web with their mobile phones. It is designed to facilitate and encourage users by integrating the mobile phone's core strengths -- image, voice and location recognition -- into a single customizable application. Additionally, Getfugu offers the only mobile e-commerce platform available worldwide today. The Getfugu platform will soon be available for 97% of the mobile phones available (over 3.3 billion handsets) worldwide.
For more information on Getfugu, please visit our website at: www.Getfugu.com
Forward-Looking Statements
Except for statements of historical fact, the matters discussed above are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, intense competition, and difficulty in developing, exploiting and protecting proprietary technologies; as well as additional risks factors discussed in the reports filed by the company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the company undertakes no obligation to update any information.
Contact:
Michael Selsman
Public Communications Co.
310-553-5732
I am looking forward to this stock going back the 3 dollars.
I am discussing the stock....positively ...does that bother you?
I'm doing fine witht this investment thanks.:)
Unless in at .003
..and I would think we have some happy investors already.
"Getfugu offers the only mobile e-commerce platform available worldwide today"
So are you buying ?
Investors believe ...and the shorts don't.
lets see who wins ... I'm betting investors
This is just the opening show.
What is QR ?
Getfugu's Impressive legal experts in the lawsuit
http://www.luce.com/johnkirkland/
http://www.luce.com/theonazhordania/
I guess I can reply.... ASK .036
Why not just keep patient, and watch the stock rise.
GO GETFUGU, Looks like its going to run today !!
$4.25 a share is what I would sell the company to Google for.
That might be the best way to get the technology into the marker faster.
GO GETFUGU!
I for one see the 10Q as a very positive step.
I have communicated and see the men in charge as fully capable.
The server hardware and software is fully functional.
Now its sell it time!!
Great Product,and right time for the market.IMO
Getfugu is on the cutting edge of augmented reality IMO
Getfugu has been slandered. It prevailed (with prejudice) against a legal attack.
They should be getting at least 500 million in damages IMO.
Great technology. Who wouldn't love augmented reality.
The 10Q will be released shortly
Naked Short Selling and The SEC Emergency Order
http://www.sec.gov/comments/s7-19-07/s71907-1436.pdf
This is the one and only video by a CEO of a small public company on
the subject of naked shorting, who has bravely fought the battle
against the counterfeiters and the SEC for over 10 years as the most
prominent whistleblower.
The video is in seven parts. It can be viewed exclusively under
the category of "counterfeit shares." The series also appears
under "naked short selling," "Richard Altomare," "USXP," "fails to
deliver" and "phantom shares."
Here is the main link:
http://www.youtube.com/nakedshortselling
Chairman and CEO Patrick M. Byrne sends an open letter to President George W. Bush.
October 10, 2008
Mr. George W. Bush
President of the United States of America
1600 Pennsylvania Avenue
Washington, D.C. 20500
Dear President Bush,
I was pleased to hear you say today that the SEC is taking action to stop manipulative practices in our markets. One such practice that the SEC must stop immediately is the insidious practice of naked short selling. In order for our stock settlement system to work so that trades actually settle, the SEC (or Congress) must take the following steps:
1. Enact a market-wide mandatory pre-borrow requirement for all short
sales;
2. Put in place a market-wide hard-delivery requirement on T+3 for all
sales;
3. Require that for any failure-to-deliver, broker-dealers must force a
mandatory buy-in;
4. Track each trade cradle-to-grave, so that prosecutors can go after
naked short sellers;
5. Require regular and timely disclosure by naked short sellers of when
and how many shares they are failing to deliver; and
6. Enforce these rules, including significant monetary penalties and jail
time.
In addition, I believe that Washington must conduct a 9-11 Commission kind of investigation into our nation's entire clearing and settlement system.
Naked short selling is a significant issue. It has contributed to the recent fall of some of our financial institutions and exacerbated the current market crisis.
A well functioning capital market should settle trades. Only when there are laws in place that ensure settlement of all trades and when those laws are vigorously enforced, will the scourge of manipulative naked short selling stop.
Sincerely,
Patrick M. Byrne, PhD.
Chairman and Chief Executive Officer
cc: Senator Harry Reid, Senate Majority Leader
Senator Christopher J. Dodd, Chairman, Senate Banking, Housing, and
Urban Affairs Committee
Senator Richard Shelby, Ranking Member, Senate Banking, Housing, and
Urban Affairs Committee
Representative Nancy Pelosi, Speaker of the House of Representatives
Representative Barney Frank, Chairman, House Committee on Financial
Services
Representative Spencer Bachus, Ranking Member, House Committee on
Financial Services
Christopher Cox, Chairman, Securities and Exchange Commission
Kathleen L. Casey, Commissioner, Securities and Exchange Commission
Elisse B. Walter, Commissioner, Securities and Exchange Commission
Luis A. Aguilar, Commissioner, Securities and Exchange Commission
Troy A. Paredes, Commissioner, Securities and Exchange Commission
Eric R. Sirri, Director, Division of Trading and Markets, Securities
and Exchange Commission
Henry "Hank" M. Paulson, Jr., Secretary, Department of Treasury
Chairman Waxman Announces Hearings on Financial Meltdown - Not One
Story in Today's Media?
To All,
Does anyone else have a problem with this? The most powerful
government committee in Washington announced an investigation into
the most catastrophic event (Financial Meltdown) in nearly a
century, and the media won't report it. It's so important that the
committee is forgoing its upcoming recess to conduct these
hearings. If there was ever a doubt that Wall Street owns the
financial and mainstream media this should vanquish it!
Take a look at the attached letters to the witnesses and note the
documents and information that Chairman Waxman has requested from
the witnesses. When you're told you must bail-out our financial
institutions or there will likely be a financial meltdown, this is
information that every American has a right to know!
I guess it's up to us! Please forward this email to every person in
your contact list, every local and national media outlet, and every
legislator both state and national. Americans will not be able to
learn about these important hearings any other way!
http://oversight.house.gov/story.asp?ID=2205
Thursday, October 02, 2008
Corporate Accountability
Chairman Waxman Announces Hearings on Financial Meltdown
In light of the dramatic events that have occurred in global
financial markets, the Oversight Committee will hold five hearings
in October to examine the regulatory mistakes and financial excesses
that led to the market breakdowns on Wall Street. In announcing the
hearings, Chairman Waxman stated: "This financial crisis has shaken
the global economy. Congress cannot wait until a new administration
arrives in January to examine what went wrong and who should be held
accountable."
In addition to the previously announced hearings on the bankruptcy
of Lehman Brothers (October 6) and the $85 billion bailout of AIG
(October 7), the Committee will hold the following hearings in
October:
October 16, 2008: The Regulation of Hedge Funds
Five fund managers who earned over $1 billion last year have been
invited to testify about the role of hedge funds in the financial
markets and their regulatory and tax status. The five witnesses are
John Alfred Paulson, President, Paulson & Co., Inc.; George Soros,
Chairman, Soros Fund Management LLC; Philip A. Falcone; Senior
Managing Director, Harbinger Capital Partners; James Simons,
Director, Renaissance Technologies LLC; and Kenneth C. Griffin,
Chief Executive Officer and Managing Director, Citadel Investment
Group.
October 22, 2008: The Breakdown of Credit Rating Agencies
The CEOs of the nation's three largest credit rating agencies have
been invited to testify about the role of the credit rating agencies
in the financial excesses on Wall Street. The three witnesses are
Deven Sharma, President, Standard & Poor's; Raymond W. McDaniel,
Chairman and Chief Executive Officer, Moody's Corporation; and
Stephen Joynt, President and Chief Executive Officer, Fitch Ratings.
October 23, 2008: The Role of Federal Regulators
Former Federal Reserve Chairman Alan Greenspan, former Treasury
Secretary John Snow, and current SEC Chairman Christopher Cox have
been invited to testify about the role and responsibility of federal
regulators in the Wall Street financial crisis.
Letter to John Paulson
http://oversight.house.gov/documents/20081002120534.pdf
Letter to George Soros
http://oversight.house.gov/documents/20081002120615.pdf
Letter to Philip Falcone
http://oversight.house.gov/documents/20081002120710.pdf
Letter to James Simons
http://oversight.house.gov/documents/20081002120753.pdf
Letter to Kenneth Griffin
http://oversight.house.gov/documents/20081002121029.pdf
Letter to Deven Sharma
http://oversight.house.gov/documents/20081002121126.pdf
Letter to Raymond McDaniel
http://oversight.house.gov/documents/20081002121213.pdf
Letter to Stephen Joynt
http://oversight.house.gov/documents/20081002121300.pdf
Letter to Alan Greenspan
http://oversight.house.gov/documents/20081002121357.pdf
Letter to John Snow
http://oversight.house.gov/documents/20081002121446.pdf
Letter to Christopher Cox
http://oversight.house.gov/documents/20081002121530.pdf
STOP NAKED SHORT SELLING NOW!
http://mainstreetamericans.info/
Universal Express, Inc., the Little Company that First Alerted You and the World about the Devastating Effects of Naked Shorting…
Now the whole world is feeling the pain, reeling from the effect of the Tsunami that they now call NAKED SHORT SELLING. Bear Stearns is gone, Lehman demolished, AIG humbled, Frannie and Freddie usurped by the U.S. Government, Washington Mutual about to be history, Merrill sucked up by a bank, and many more on their way out. The SEC FINALLY DECIDES TO PASS THE "NO NAKED SHORTING" RULE (to be effective tomorrow) !!! When all the horses have bolted out of the barn, Cox, the shining knight in armor, comes to our rescue!! It is the shameful last act of an impotent man appointed to save the markets from exactly what is happening.
In case you have not been paying attention, Universal Express, Inc. (USXP) was severely naked shorted in 1998 after which the company approached the SEC for help. The SEC told it to get lost, "go talk with your market maker". The company sued the guilty parties and won two massive judgments in 2001 and 2003 totaling over 700 million $. The SEC refused to help the company collect on these judgments. Instead it sued the company and its CEO (on March 24, 2004) for issuing "unregistered" shares into the market, this after being first being sued by the company on March 02, 2004. Judge Gerard E. Lynch of the NY Federal Courts (Northern District) colluded with the crooked SEC lawyers and stripped the company bare by sending over a "conflicted" Receiver who promptly drove everyone out and sold the company for farthings, a company that spent over 10 million $ in advertising just in 2007 !!! The receiver they sent defends a confirmed mobster accused of naked shorting several companies !!
On October 14th, 2008, the 2nd circuit appeals court in New York will be conducting a hearing on whether or not the CEO of Universal Express exercised his rights within the boundaries of law to protect his company from being crushed by naked shorting. After being sued by the company for being asleep at the wheel as the naked shorts raided the company, the SEC sued Universal Express back claiming there was no naked shorting whatsoever, demanding prood (in spite of prior judgments) and charging the CEO for issuing so-called "unregistered" shares, shares the company claimed were legally issued under a Bankruptcy Judge's plan in the early 90s when the company emerged from bankruptcy. If the ruling to be announced subsequent to this hearing in fact supports the actions of the CEO as having been legal and justified within the framework of our justice system, this will then mean that Universal Express was essentially destroyed (almost to extinction) by the crooked SEC itself, in collusion with the ruthless and crooked wall street hedge funds, aka naked shorts. It would also mean that Judge Lynch is at best an "activist" judge as Senator Sessions forewarned during the judge's confirmation hearing, and at worst is working hand-in-glove with the dark and dangerous forces within the SEC and within wall street and needs to be indicted and incarcerated.
This coming October 14th, 2008 should be a day for you to scrutinize the judgment rendered by the New York Federal Appeals Court and do some self-introspection. If the decision to be announced subsequent to this hearing is in favor of the CEO of Universal Express and his General Counsel (the shareholders were removed from this appeal in a cruel twist by the "conflicted' receiver), we suggest you probe deep into your conscience and ask what you could have done when first alerted of this story and why you did not come to the help of all those who screamed for help when the dark forces of naked shorting were decimating hordes of small companies over the years (several thousand of whom are now extinct). How much is your non-action to blame for this outcome? What could you have done to alert the proper forces within your power? Are we living in a democracy? Did you hear his cries when they came for the small guy or did you just laugh out loud like the rest of the world and jeer at the so-called wackos who were shouting naked something as though they were attacked by some wild and senseless unclothed beasts of wall street?
Sincerely,
On Behalf of the "Concerned USXP Shareholder Group"
Statement From A Day To Remember
The SEC’s order today banning naked short selling is vindication of Universal Express and its officers in their over ten year battle against naked shorting and flies in the face of the SEC’s denial of this national scandal and failure to act for over 15 years; a scandal which has resulted in the destruction and fatal damaging of thousands of small public companies, the loss of the investments and savings of millions of ordinary shareholders and the loss of jobs for thousands of employees.
This national scandal of naked short selling, condoned and covered-up by a conflicted SEC for many years, has sucked the market capitalization from smaller public companies, putting thousands of such companies out of business and destroying the investments and jobs of millions of Americans. This scandal, ignored by the SEC, has destroyed the American dream of taking small private companies public and growing their businesses through the growth of their stock. Thousands of developmental products beneficial to the public, including health advances, never had a chance for the national market. Trillions of dollars were siphoned from the capitalizations of public companies by the naked shorters with the intent and result of bankrupting those companies so that the naked shorts would never have to be covered by delivery of actual shares and, as a consequence, the shorters did not have to pay any taxes on their gains; taxes that would have been large enough to pay off the National Debt. For Congressmen and Presidential candidates in an election year, this untold story now proven should be a huge event to bring to the attention of the voting public.
Universal Express, Inc. was one of these victims.
Universal Express had developed, grown and been successful and recognized despite the unrelenting attack for over ten years by naked shorters; Wall Street financial interests, who sold into the market in the name of the Company billions of unregistered, phantom and counterfeit shares, collapsing the Company’s stock price from $2 to 2 cents per share and, thereafter, keeping the Company’s stock price for years well below fractions of a cent a share.
Universal Express, Inc., its President and its General Counsel, proved that naked short selling existed upon the attack by the naked shorter sellers on the Company’s shares. The General Counsel showed by statistics that the volume of the Company’s shares traded was 11 times the Company’s then outstanding shares and more than 68 times its average daily volume.
State court juries in Florida in 2001 and 2003 awarded the Company verdicts exceeding a total of $700,000,000 against naked shorters. In a press release issued in September, 2003, the Company stated that if ordinary people (jurors) understand that “you can’t sell what you don’t own and never deliver,” which is naked shorting and counterfeiting of shares, “why can’t the SEC understand” this national problem.
Within a month after the Company’s second jury verdict against the naked shorters and the very wide publicity attending the Company’s verdicts, an embarrassed SEC through its Denver office commenced a program of harassment against the Company, with more than 13 subpoenas for documents. The Company initially volunteered to provide information on contracts for proposed acquisitions and funding sources for those acquisitions. Before these documents were even received by the attorneys at the Denver office of the SEC, they were calling those acquisition candidates’ and funders’ senior officers, threatening them with reprisals so that they would move away from the Company. This pattern of intimidation on the Company was in full swing and successful since several large proposed acquisitions were terminated. The harassment of the Company as a whistleblower on naked shorting, and the harassment of its business partners and potential business partners and funders, continued unabated thereafter.
The Company, its President and General Counsel were determined not to be bullied by a conflicted regulatory agency which has failed the investing public on this national naked shorting scandal in favor of Wall Street interest, in a clear violation of its Charter to protect investors.
The Company, its President and General Counsel did not violate the Federal Securities Acts by causing the Company to issue shares of stock which had not been registered with the SEC. To the contrary, those shares had been issued pursuant to a Chapter 11, Bankruptcy Code, Plan of Reorganization, which Plan had been confirmed by the Bankruptcy Court and the shares were exempt from the registration requirements of the Federal Securities Acts.
The daily recapitalization of the Company caused by the naked shorting of the Company’s shares gave the Company the clear right under the Reorganization Plan, the Bankruptcy Court’s Orders and the Bankruptcy Code to cover those counterfeit and unregistered naked shorted shares with shares of the Company properly issued under its Reorganization Plan and the provisions of the Bankruptcy Code.
The Company’s Reorganization Plan, including the operable provisions covering the issuance of shares were filed with the SEC a number of times during the Reorganization of the Company.
The Reorganization Agreement and the specific operable provisions covering the issuance of shares are specifically referenced as exhibits to the annual reports 10-KSB’s of the Company.
Also, on April 21, 2006, Mr. Gunderson testified extensively at his deposition held by attorneys from the SEC’s Denver Office concerning the operable provisions covering the issuance of shares of the Company’s Reorganization Plan and other documents that are an integral part of the Reorganization Plan. To stunned silence and no cross examination, the General Counsel described those documents, placed in evidence the Reorganization Plan and the other documents that are an integral part of the Plan, placed into evidence copies of the immunity from suit provisions of the Bankruptcy Code and the daily recapitalization of the Company caused by the naked shorting of the Company’s shares and the clear right of the Company to cover those counterfeit and unregistered shares by shares of the Company properly issued under its Reorganization Plan and the provisions of the Bankruptcy Code.
Universal Express was almost completely destroyed by Wall Street financial interests naked short-selling its shares in the name of the Company. The Company has been under unrelenting attack for over ten years by naked shorters, who sold into the market in the name of the Company billions of unregistered and counterfeit shares, collapsing the Company’s stock price, as indicated, from $2 per share to 2 cents per share and, thereafter, keeping the Company’s stock price for years well below fractions of a cent a share.
This national scandal of naked short selling has sucked the market capitalization from smaller public companies, putting thousands of such companies out of business and destroying the investments and jobs of hundreds of thousands of Americans.
It should be noted that Chairman Cox had recently, though quite belatedly, made a number of public statements to the effect that “naked short selling” and “fails to deliver” is a national problem of abuse and fraud in the trading markets and has adversely affected the capital formation process, particularly for small public companies. The Commission announced that it is drafting ant-fraud rules with respect to naked shorting.
The Commission’s Chairman also publicly recognized in questioning before the Senate Banking Committee hearing this month on April 4, 2008 on the bail-out of Bear Stearns that “illegal naked short-selling” is being investigated in the collapse of Bear Stearns.
Now, after further turmoil in the financial markets, the SEC, after 15 years of destruction, has finally banned naked shorting.
The SEC’s arrogance is unsurpassed in the annals of government regulators, complaining about the shares of our Company, which have been properly issued and clearly recorded in our public filings for over 14 years, while the SEC improperly permitted marketmakers, broker-dealers and hedge funds to sell trillions of unregistered and counterfeit shares in companies’ names in violation of its own Securities Statutes, Regulations and Rules and the Counterfeiting Statutes of the United States.
The Company continued, like many other surviving companies, to have its market capitalization sucked away by the naked shorters and its stock price battered down to small fractions of a cent.
The SEC’s attack on Universal Express as a whistleblower on naked shorting was in full swing in 2003, and continues to date.
The Company, its President and General Counsel were determined not to be bullied by a conflicted regulatory agency which has failed the investing public on this national naked shorting scandal in favor of Wall Street interest, in a clear violation of its Charter.
The President’s officer positions, President, Chief Operating Officer and Chairman and Sole Director, his powers and his prominence in the affairs of the Company were specifically provided in great detail by the Bankruptcy Court in the Company’s Reorganization Plan and Disclosure Statement. These powers, positions and immunities were directed by the Bankruptcy Court to continue long-term during the developmental stage of the Company.
The SEC conflicted denial of the Company’s and the President’s position and rights under the Bankruptcy Code and the rulings of the Bankruptcy Court would have been dealt with harshly by that Court if the SEC had, as they were required to do under the Bankruptcy Code, appeared in those proceedings. The SEC had full knowledge of the proceedings and failed to appear. Once they so failed, they were estopped under the Bankruptcy Code from proceeding against the Company, its President and its General Counsel and any other employees on matters specifically provided for in the Reorganization Plan of the Company, as approved by the Bankruptcy Court, including the issuance of shares to advisors and consultants under the Stock Incentive Plan (the functional equivalent of an S-8 registration, filed initially with the SEC and many times thereafter) in such amounts as are necessary to cover the daily recapitalization of the Company caused by the billions of unregistered and counterfeit shares permitted by the SEC to be issued by the naked shorters in the name of the Company, but for which the Company received no consideration.
The Company, its President and its General Counsel have at all times acted in good faith reliance on the orders of the Bankruptcy Court, the long-term provisions of the Reorganization Plan, confirmed by the Bankruptcy Court, and the immunities provided to the Company and its officers under the Bankruptcy Code.
The SEC’s attack on the Company, its President and General Counsel as whistleblowers on naked shorting was in full swing in 2003, and continues to date.
The Company, its President and General Counsel has been bullied by the SEC, a conflicted regulatory agency which has failed the investing public on this national naked shorting scandal in favor of Wall Street interest, in clear violation of its Charter to protect investors.
The SEC commenced its case against the Company on March 22, 2004, twenty-two days following the filing of an action by the Company against the SEC in federal court in Florida on March 2, 2004. The Company’s sued the SEC for extensive and sustained harassment of the Company and its officers, including its President and General Counsel, to silence them on the naked shorting scandal and, in addition, sued the SEC for failure to take any effective action to stop naked shorting. Conveniently and typically, the SEC relied on its “immunity” to defeat this action in order to further cover-up its cooperation with the naked shorters for over ten years and to silence the Company and its officers.
Publicly available facts prove, among other things, (i) that the SEC ignored the Company’s and others’ repeated voices of concern and increasing public criticism regarding naked short selling of stock for years, (ii) the SEC had enormous financial interest in allowing the continuation of naked short selling, (iii) the naked short selling of stock had turned into a nationwide scandal known as “Stockgate”, (iv) that by July, 2001, the Stockgate scandal was well known within the SEC to have reached staggering range of hundreds of billions of dollars, (v) the SEC literally sat on a proposal initiated outside of the SEC to ban naked shorting of stock in 2001 for almost 2 ½ years, and even currently condones, if not fosters, delays in implementing any material preventative measures.
Universal, its President and General Counsel have been out in the forefront of publicly and openly challenging the SEC since 1997 on its improper inaction on naked shorting.
All of these actions by the SEC to harass and intimidate the Company, its President and General Counsel for ten years were designed to silence them for their public protest against the SEC’s long-term failure to act in the national scandal of naked shorting, and such actions were and are violations by the SEC and its minions of the Whistleblower Protection Act with respect to the Company, its President and Mr. Gunderson, its General Counsel, as whistleblowers, generally, and under the Act.
Initial briefs have been filed with the United States Court of Appeals of the Second Circuit on October 26, 2007 appealing the summary judgment by the lower court, without a hearing, on behalf of the President and the General Counsel and a reply brief by the SEC on November 26, 2007.
The appeal is scheduled for oral argument on October 15, 2008.
The selling of shares that a person does not own and never delivering such shares to a buyer would be a felony in all States of the United States.
As set forth herein, the SEC has permitted billions of shares to be sold in this manner to investors for in excess of fifteen years and, accordingly, has condoned these criminal acts.
Whether called “naked shorting”, selling “phantom” shares or “fails to deliver,” the sales of shares not issued by Companies, in the name of Companies, constitute the sales into the marketplace of counterfeit securities, major federal crimes, under Sections 513 and 514 of Title 18 (“Crimes”) of the United States Code. These crimes, involving the sale of billions, if not trillions, of counterfeit securities, the SEC, as the federal regulator for public securities, has condoned and covered-up for many years.
Today, after 15 years of denial and inaction, the SEC has finally banned naked shorting and seeks to end this national scandal.
But, where has been the protection over the years for the thousands of small public companies and millions of their investors crushed by this scandal?
Universal Express, Inc., the Little Company that First Alerted You and the World about the Devastating Effects of Naked Shorting…
Now the whole world is feeling the pain, reeling from the effect of the Tsunami that they now call NAKED SHORT SELLING. Bear Stearns is gone, Lehman demolished, AIG humbled, Frannie and Freddie usurped by the U.S. Government, Washington Mutual about to be history, Merrill sucked up by a bank, and many more on their way out. The SEC FINALLY DECIDES TO PASS THE "NO NAKED SHORTING" RULE (to be effective tomorrow) !!! When all the horses have bolted out of the barn, Cox, the shining knight in armor, comes to our rescue!! It is the shameful last act of an impotent man appointed to save the markets from exactly what is happening.
In case you have not been paying attention, Universal Express, Inc. (USXP) was severely naked shorted in 1998 after which the company approached the SEC for help. The SEC told it to get lost, "go talk with your market maker". The company sued the guilty parties and won two massive judgments in 2001 and 2003 totaling over 700 million $. The SEC refused to help the company collect on these judgments. Instead it sued the company and its CEO (on March 24, 2004) for issuing "unregistered" shares into the market, this after being first being sued by the company on March 02, 2004. Judge Gerard E. Lynch of the NY Federal Courts (Northern District) colluded with the crooked SEC lawyers and stripped the company bare by sending over a "conflicted" Receiver who promptly drove everyone out and sold the company for farthings, a company that spent over 10 million $ in advertising just in 2007 !!! The receiver they sent defends a confirmed mobster accused of naked shorting several companies !!
On October 14th, 2008, the 2nd circuit appeals court in New York will be conducting a hearing on whether or not the CEO of Universal Express exercised his rights within the boundaries of law to protect his company from being crushed by naked shorting. After being sued by the company for being asleep at the wheel as the naked shorts raided the company, the SEC sued Universal Express back claiming there was no naked shorting whatsoever, demanding prood (in spite of prior judgments) and charging the CEO for issuing so-called "unregistered" shares, shares the company claimed were legally issued under a Bankruptcy Judge's plan in the early 90s when the company emerged from bankruptcy. If the ruling to be announced subsequent to this hearing in fact supports the actions of the CEO as having been legal and justified within the framework of our justice system, this will then mean that Universal Express was essentially destroyed (almost to extinction) by the crooked SEC itself, in collusion with the ruthless and crooked wall street hedge funds, aka naked shorts. It would also mean that Judge Lynch is at best an "activist" judge as Senator Sessions forewarned during the judge's confirmation hearing, and at worst is working hand-in-glove with the dark and dangerous forces within the SEC and within wall street and needs to be indicted and incarcerated.
This coming October 14th, 2008 should be a day for you to scrutinize the judgment rendered by the New York Federal Appeals Court and do some self-introspection. If the decision to be announced subsequent to this hearing is in favor of the CEO of Universal Express and his General Counsel (the shareholders were removed from this appeal in a cruel twist by the "conflicted' receiver), we suggest you probe deep into your conscience and ask what you could have done when first alerted of this story and why you did not come to the help of all those who screamed for help when the dark forces of naked shorting were decimating hordes of small companies over the years (several thousand of whom are now extinct). How much is your non-action to blame for this outcome? What could you have done to alert the proper forces within your power? Are we living in a democracy? Did you hear his cries when they came for the small guy or did you just laugh out loud like the rest of the world and jeer at the so-called wackos who were shouting naked something as though they were attacked by some wild and senseless unclothed beasts of wall street?
Sincerely,
On Behalf of the "Concerned USXP Shareholder Group"
New York to Cite Citigroup Over Auction-Rate Sales (Update2)
By Karen Freifeld
Aug. 1 (Bloomberg) -- New York Attorney General Andrew Cuomo plans to sue Citigroup Inc., the largest U.S. bank by assets, accusing it of ``fraudulent'' sales of auction-rate securities as safe, money market-like investments.
Citigroup destroyed ``documents under subpoena,'' Cuomo said in a letter sent today to the bank following a five-month investigation by his office. He said he plans to ``charge'' the bank under the state's Martin Act, which permits civil suits and criminal action. Cuomo offered details for a possible settlement. He won't sue if his terms are met, spokesman Alex Detrick said.
``The investigation has revealed that Citigroup has repeatedly and persistently committed fraud by making material misrepresentations and omissions in connections with Citigroup's underwriting, distribution and sale of auction-rate securities,'' Cuomo said in the letter.
New York sued UBS AG July 24 over the same matter, accusing the bank of ``aggressive marketing.'' Massachusetts and Texas filed similar complaints against UBS since the $330 billion market collapsed in February in an effort to force that firm to repurchase securities it marketed in their respective states.
Citigroup spokeswoman Susan Thomson didn't immediately return a phone call seeking comment.
Cuomo said his office subpoenaed Citigroup recordings of telephone conversations concerning the marketing, sale, distribution or auction of auction-rate securities'' on April 14. Citigroup learned in mid-June that its auction-rate desk recordings had been destroyed and later told the attorney general's office that it was not likely to be able to recover the data sought, Cuomo said in his letter.
Records Destroyed
``Verbatim records of the most important witness statements during the most relevant period were therefore destroyed after the issuance and service of the subpoena,'' Cuomo said.
Cuomo said he might be willing to settle the matter with Citigroup if it agrees to buy back retail investors' securities ``at par in the immediate future,'' pay for any damages incurred, undertake immediately to make institutional investors whole and pay a significant penalty for the alleged misconduct.