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Or the lawyers who sold the shell.
The only recourse is to sue the CEO for personal losses as a shareholder, but lawsuits are costly and the criminal CEO would simply not pay any judgement. They were adept at defrauding shareholders and they would be commensurately adept at not paying any judgement.
It is a travesty.
How do the old shareholders get paid back?
SEC Obtains Final Judgment Against CEO in San Francisco-Based Penny Stock Company Pump and Dump Scheme
https://www.sec.gov/litigation/litreleases/2015/lr23208.htm
The Securities and Exchange Commission today announced that on February 25, 2015, the Honorable Vincent G. Chhabria, United States District Court Judge for the Northern District of California, entered a Final Judgment as to Defendant Joseph A. Noel, of Martinez, California.
The Commission's complaint, filed on November 17, 2014, alleged that Noel defrauded investors by issuing false and misleading press releases portraying his purported marketing and infomercial company YesDTC Holdings, Inc. as a successful venture in order to drive the stock price up. Noel then covertly sold millions of shares into the public market at the inflated price and reaped more than $300,000 in illicit profits. To conceal his sales, Noel sold the shares through a company he created in his teenage daughter's name without disclosing as required that he was actually selling the shares.
The final judgment against Noel, entered by consent, permanently enjoins him from committing future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 10(b) and 16(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 16a-3 thereunder. In addition, the final judgment orders Noel to pay disgorgement of $315,000, with prejudgment interest of $45,000, and bars Noel from serving as an officer or director of a public company and from participating in any penny stock offerings.
Noel also pled guilty to criminal charges related to the same conduct alleged in the Commission's complaint. See USA v. Joseph Noel, Criminal Action No. 14-00264 VC (N.D. California).
YESD: SEC Admin Proceeding, Initial Decision to revoke:
http://www.sec.gov/alj/aljdec/2014/id717bpm.pdf
Hopefully all the companies that did this with noel, like bmgp, mdhi and others will be busted. The Securities and Exchange Commission today charged a San Francisco-based penny stock company CEO with defrauding investors by issuing false and misleading press releases portraying his purported marketing and infomercial company as a successful venture in order to drive the stock price up while he covertly sold millions of shares into the public market for more than $300,000 in illicit profits.
According to the SEC’s complaint filed against Joseph A. Noel in federal district court in San Francisco, the deceptive press releases about his company YesDTC Holdings touted exclusive distribution rights, licensing agreements, and certain products purportedly certified by the government. Noel’s promotional campaigns based on such false information caused a spike in YesDTC’s thinly-traded stock and enabled him to dump millions of his own shares for a profit. To conceal his sales, Noel sold the shares through a company he created in his teenage daughter’s name without disclosing as required that he was actually selling the shares. ....Jail time would be wonderful for Christmas
SEC Charges San Francisco-Based Penny Stock Company CEO for Defrauding Investors in Pump-and-Dump Scheme
FOR IMMEDIATE RELEASE
2014-255
SEC complaint
http://www.sec.gov/litigation/complaints/2014/comp-pr2014-255.pdf
Washington D.C., Nov. 17, 2014 — The Securities and Exchange Commission today charged a San Francisco-based penny stock company CEO with defrauding investors by issuing false and misleading press releases portraying his purported marketing and infomercial company as a successful venture in order to drive the stock price up while he covertly sold millions of shares into the public market for more than $300,000 in illicit profits.
According to the SEC’s complaint filed against Joseph A. Noel in federal district court in San Francisco, the deceptive press releases about his company YesDTC Holdings touted exclusive distribution rights, licensing agreements, and certain products purportedly certified by the government. Noel’s promotional campaigns based on such false information caused a spike in YesDTC’s thinly-traded stock and enabled him to dump millions of his own shares for a profit. To conceal his sales, Noel sold the shares through a company he created in his teenage daughter’s name without disclosing as required that he was actually selling the shares.
The SEC also suspended trading in YesDTC stock today, and instituted an administrative proceeding to revoke its registration.
“Noel issued false press releases to pump up the price of the stock and set up a nominee company to dump the shares into the market to unwitting investors,” said Jina L. Choi, Director of the SEC’s San Francisco Regional Office. “We’re always on the lookout for penny stock company CEOs who manipulate the market to line their own pockets.”
The SEC’s complaint charges Noel with violating antifraud and registration provisions of the federal securities laws. The SEC seeks disgorgement of ill-gotten gains plus prejudgment interest and a financial penalty as well as a permanent injunction. The SEC also is seeking an officer-and-director bar and a penny stock bar against Noel.
The SEC’s investigation was conducted by Heather E. Marlow and David Berman of the San Francisco Regional Office, and the case is supervised by Tracy Davis. The SEC’s litigation will be led by Aaron Arnzen and Ms. Marlow. The SEC appreciates the assistance of the U.S. Attorney’s Office for the Northern District of California and the Federal Bureau of Investigation.
###
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543469562
Getting a little action here! Very thinly traded
What's going on here? Looking at level 2 today, it looks like this trades very thin? Is this a clean shell?
Nope, not I.....was in this one long ago, but it's been a few years now.
Hell no u here too snizzle-(hope u on your best behavior man
YESD is getting attension and momentum
YESD is getting attension and momentum
Don't be fooled ..This is trash ..IMO
It seems to jump up fast with very little volume
With YESD's sad looking chart ..It will keep going down ..
Some one was testing the waters
Hey John , thanks for the information ...
I see these are over a year old ..It's been dead,since then ..
I wonder what made this move last month...
- Current report filing (8-K) reference source
http://ih.advfn.com/p.php?pid=nmona&article=51375326
Date : 02/27/2012 @ 12:08PM
Source : Edgar (US Regulatory)
Stock : Yesdtc Holdings, Inc. (PN) (YESD)
Quote : 0.0008 0.0 (0.00%) @ 4:26PM
- Current report filing (8-K)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 27, 2012
YesDTC Holdings, Inc.
(Exact Name of Registrant as Specified in Charter)
Nevada 333-155178 27-2501561
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
300 Beale Street
Suite 613
San Francisco, CA
94105
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (925) 922-2560
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 23, 2012, the director and CEO of YesDTC Holdings, Inc. (the “Company”), Joseph Noel, tendered his resignation of all offices of the Company and resigned as the Company’s sole director.
On February 23, 2012, Chief Financial Officer of the Company, William Bush, tendered his resignation as Chief Financial Officer.
As of this date of this filing, all directors and officers of the Corporation have resigned their positions.
Item 8.01 Other Events.
On February 23, 2012, the Company was notified buy its licensor for the MotorBooster fuel catalyst product the licensing agreement between the two entities was being terminated due to lack of progress in marketing the product. As a result, YesDTC holdings will no longer pursue this line of business.
As of February 23, 2012, YesDTC Holdings Inc. will cease business operations due to its inability to secure adequate financing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
YESDTC HOLDINGS, INC.
Date: February 27, 2012 By:
/s/ Joseph A. Noel
Name: Joseph A. Noel
Title: Chief Executive Officer
yesd here is a article or two
On February 23, 2012, the director and CEO of YesDTC Holdings, Inc., Joseph Noel, tendered his resignation of all offices of the company and resigned as the Company's sole director. On February 23, 2012, Chief Financial Officer of the company, William Bush, tendered his resignation as Chief Financial Officer. As of this date of this filing, all directors and officers of the Corporation have resigned their positions.
Effective December 21, 2011, YesDTC Holdings, Inc. changed its OTCPK stock ticker symbol to YESD from YESDE.
reference source for both aticles here above the line
http://www.realpennies.com/otc/YESD/
------------------------------------------------------------------------------------------------------------------------------------
YesDTC Announces Name Change to MotorBooster, Inc. to Concentrate on High Growth...
Tue Aug 9, 2011 7:02am EDT
YesDTC Announces Name Change to MotorBooster, Inc. to Concentrate on High Growth
Fuel Catalyst Market
SAN FRANCISCO, Aug. 9, 2011 (GLOBE NEWSWIRE) -- YesDTC Holdings, Inc.
(OTCBB:YESD), a direct-to-consumer marketer and global distributor of consumer
goods and products, today announced the Company plans to change its name to
MotorBooster, Inc. The change to MotorBooster, Inc. reflects the Company's
intention to actively and exclusively pursue the marketing, distribution and
sale of its MotorBooster(TM) combustion catalyst and engine conditioner as part
of its nationwide product rollout.
Going forward, the Company has determined it will concentrate its corporate
efforts on its unique, proprietary MotorBooster product, which is protected
under U.S. patents and has received EPA Certification to not cause engine
damage. Recent independent tests have shown the MotorBooster fuel catalyst
formulation to generate a very significant 16% increase in fuel efficiency as
well as substantial fuel emission reductions. In addition to these tests, the
Company also recently announced the University of Alaska, Fairbanks, along with
a major multinational oil company, will be jointly conducting extensive tests on
MotorBooster for its potential to reduce emissions, improve fuel efficiency and
enhance engine performance in the oil industry.
Joseph Noel, CEO of YesDTC, commented, "The results of the testing on
MotorBooster thus far has been so dramatic and the possibilities for fuel
savings across a multitude of industries so vast that the Company and Board of
Directors believe the Company and its investors will be best served by focusing
exclusively on this opportunity going forward." He continued, "By now, anyone
following our story has already noted the 16% increase in fuel efficiency and
substantial improvement in lowering fuel emissions that MotorBooster has been
shown to demonstrate in independent dynamometer testing and we believe the
upcoming tests at the University of Alaska will provide further validation of
this amazing product's efficacy. In regards to the other product lines we have
pursued, WordSmart in particular, while we believe they hold strong revenue
possibilities, they pale in comparison to the huge market size and vast consumer
interest we believe exists for MotorBooster. Going forward, we plan to devote
our full corporate efforts to the promotion of MotorBooster, which we view as
clearly holding the highest revenue and profit potential of any product we've
encountered to date."
At a national average cost per gallon of $3.66 for regular gasoline, and $3.92
for premium, the Company estimates a 16% increase in fuel efficiency as
demonstrated by its last independent test would mean a very significant nearly
$0.59 savings per gallon on regular and a $0.63 savings on premium, while users
switching from premium to regular as a result of using MotorBooster would
realize even more significant savings at the pump. As an automotive combustion
catalyst that targets the consumer market, MotorBooster is designed to increase
fuel economy, reduce hydrocarbon emissions and enhance engine performance.
MotorBooster(TM) is a proprietary formulation tablet that users simply insert
into their gas tank, upon which it dissolves into the fuel to achieve mileage,
emissions and enhancement benefits, including allowing motorists to use lower
octane fuels for double-savings at the pump. MotorBooster is protected under
U.S. patents and has received EPA Certification to not cause engine damage.
About YesDTC Holdings, Inc.
YesDTC Holdings, Inc. is a direct-to-consumer marketing company specializing in
direct response television (DRTV), internet and retail marketing programs. The
Company brings a unique set of skills to this market space by combing both the
creative talents and financial acumen needed to create a total package for
direct-to-consumer marketing programs. More information on YesDTC Holding can be
found at www.yesdtc.com
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking
statements" that involve risks and uncertainties. These include statements about
our expectations, plans, objectives, assumptions or future events. You should
not place undue reliance on these forward-looking statements. Information
concerning factors that could cause our actual results to differ materially from
these forward-looking statements can be found in our periodic reports filed with
the Securities and Exchange Commission. We undertake no obligation to publicly
release revisions to these forward-looking statements to reflect future events
or circumstances or reflect the occurrence of unanticipated events.
CONTACT: YesDTC Holdings, Inc.
Christian Kirsebom
(925) 247-6666
reference source
http://www.reuters.com/article/2011/08/09/idUS124119+09-Aug-2011+GNW20110809
Thanks for the information ..
Did they also change the symbol ?
Looking for that news ..can't find anything about
a " name change ".
Where are you getting that information ? ..
Sorry just 2 year old news sounded
Sooo good. Come on joel do something
Yesd changing its name to motorbooster
Inc. This stock is setting up to
Launch!
See a good looking chart makes no difference..
When stock like this,that I own,is junk...
Not really ..Now has to fill that .0004 hole..
But the MM's did their best ..
Traders already lost interest ..
Just my useless opinion...
Yes nice to see ..
But you and I know,it can fall just as fast ..
Nice! I go into a meeting gets a little slap at EOD
Starting to get interesting .. Wowzers !!! up 150%
I guess being down $40 on a penny, isn't too bad ..
On the move again and seller at .0011 moved out. Good sign
Wasn't really a run up. Was a $10.00 trade with a bid of .0005
Price runs up to .01, now somebody is selling shares at .0006?
Oh yeah , this one was painful ..
I agree, I have a few and will hold till .01+ Break do or die, something is up with the sudden volume and price gains here imo
Will add more when volume starts
Agree, Just like it did Friday. Any volume and this is multi-penny quickly
L2 looks very thin here, could Gap up quickly imo
nice hits this morning. Definitely something coming here.
Interesting, not sure I have seen anything like that before. Don't have shares here, but will be watching early today.
$YESD
Yes it was! YESD has something in the works. I was watching L2 on it.
YESD-wtf is with the last few trades?
What a weird day Friday was here.
YESD
Wish we could get in on the news of that! crazy crazy.
A 911 trade. The whole ASK disappeared for some reason. The last hour of trading was odd. Guessing insiders know something.
Yeah go figure.
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