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From today's SEC Digest -
IN THE MATTER OF CHRIS G. GUNDERSON
On June 6, the Commission issued an Order Instituting Administrative
Proceedings and Imposing Temporary Suspension Pursuant to Rule
102(e)(3) of the Commission's Rules of Practice (Order) against Chris
G. Gunderson. The Order finds that a court of competent jurisdiction
has found that Gunderson violated the federal securities laws, and has
permanently enjoined him from further violations.
Based on the above, the Order temporarily suspends Gunderson from
appearing or practicing before the Commission. If Gunderson does not
petition to lift that suspension within thirty days after service of
the Order, the suspension will become permanent pursuant to Rule
102(e)(3)(ii) of the Commission's Rules of Practice. (Rel. 34-55869;
File No. 3-12653)
http://www.sec.gov/news/digest/2007/dig060607.txt
Soon it will be moot, as the end is near. When the court declines to hear the appeal (if Tifford got one filed), next comes enforcement of the judgment, which should put them into bankruptcy.
CoolID - Yes, it must be pretty embarrassing for them.
At least one of the censors is watching, though. My response to a question from one of them was sent down the memory hole.
Quotations from the Chairman:
July 26, 2001
Universal Express, Inc. (OTC:USXP), announced that a jury in the Circuit Court, Dade County, Florida, yesterday awarded USXP a damage verdict after trial of $389 million dollars ...
July 30, 2001
"Mr. Tifford expects to recover on behalf of the Company a substantial part of the judgment with a relatively short period of time," stated Mr. Gunderson.
Aug. 3, 2001
"Arthur Tifford, the Company's lead attorney, has indicated to me that he is certain that these defendants have hidden hundreds of millions of dollars."
Aug. 8, 2001
"Our counsel fully believes that the assets do exist and in due time his staff believes that they will locate and capture the defendant's funds."
Aug. 16, 2001
Universal Express, Inc.'s General Counsel, Chris Gunderson announced today that the Company's attorneys have located assets of the defendants and are proceeding with writs of attachment and garnishment.
Aug. 28, 2001
Universal Express, Inc.'s General Counsel, Chris Gunderson, announced today that hard assets of the defendants have been located in the United States with respect to the $389 million judgment received by the Company
Sept. 6, 2001
... announced today that collection steps for the $389 million judgement for hard assets, accounts, stock certificates, currency and bouillon would involve additional cities and countries in which the defendants operated principal offices and branches, including Atlanta, Chicago, Dallas, Denver, Hartford, Los Angeles, Phoenix, New York, Palm Beach, Washington D.C. and Brazil, Canada, Germany, India, Mexico, Netherlands, Russia, Spain and Venezuela.
Sept. 24, 2001
"Despite some understandable banking and administrative setbacks due to the September 11th attack, I believe that the $389 million dollar judgment in favor of the Company is substantially collectible over a relatively short period of time....
Oct 18, 2001
Our continuing to develop our core businesses, continuing the collection efforts on our $389,000,000 judgement and applying for additional and alternative trading exchanges here and abroad, will be our directives for 2002", said Richard A. Altomare, President and CEO of USXP.
Nov. 15, 2001
"Although we all would like very quickly to state specific numbers and small seizures, for obvious reasons we intend to follow the direction and experience of our lawyers to increase and insure our intended and maximum settlement," said Richard A. Altomare, President and CEO of Universal Express.
July 23, 2002
The Company's General Counsel, Chris Gunderson states, "The defendants and their co-conspirators have hidden hundreds of millions of dollars, and I am confident that the judgment is substantially collectible."
Feb 25, 2003
"Our professionals have located various offshore venues which they will visit shortly for possible collection accounts."
Apr 23, 2003
"To continue on this highly visible collection process, I once again repeat our corporate position on the awards, the collectibility, and the options of our developing company," continued Mr. Altomare.
June 27, 2003
"I believe that these judgments, as well as an additional post-judgment interest so far of $82 million dollars, totaling judgments and interest of $608 million dollars, is substantially collectible."
It shall be unlawful for any person ... To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading...
USXP To Repurchase Some of Its Outstanding Common Stock.
PLAINVIEW, N.Y.--(BUSINESS WIRE)--April 21, 1999--
Universal Express -USXP- and Talk Visual -TVCP- in 52 Million Dollar Joint Venture Agreement to Enter the World of Videocalling.
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Dec. 17, 1999--
Universal Express -- USXP -- Subsidiary to Acquire Go Automotive Leasing Corp.
Business Wire, June 12 2002
Universal Express -- USXP -- To Acquire $20,000,000 Commercial Vehicle Manufacturer United States Coach.
Business Wire, October 25 2002
Universal Express' -USXP- Executes Purchase Contract to Acquire $25 Million Transportation Equipment Manufacturer.
Business Wire, January 02 2003
Do you actually deny RA commited fraud???
rolo- Do you have any evidence that RA is honest or that the SEC's charges were false? If so, please share it.
From 0.0006 to 0.0009 on lie-fueled volume, then back to 0.0006.
It was undeniably a pump and dump, yet the believers still refuse to see it.
That's the way the scam unwinds, first their money, then their minds.
To get the believers excited and generate buying volume to facilitate dumping of stock. That's what he's been doing since the day he took over the shell.
Visit a press release archive and see all the lies. Note the dates.
Pull up a chart and see the pumps and dumps around those dates.
What you're experiencing is called cognitive dissonance. Accepting the truth will set you free.
re: why would he announce a minimum value of $30M for the Jackson items if there's nothing to back it up?
It was a rousing success for RA and his "funders." Look at last week's volume.
Nope. I don't lie at all. That way I don't ever have to stop and remember what I said.
RA lies. That has been proven beyond all shadow of a doubt. Why do you continue to believe him?
Yes. The company lies. I don't. That is verifiable.
You've become emotionally attached to usxp. If you don't wise up, you're doomed.
lifegear, No, not the calendar year. Are you going to continue to believe RA's lies?
Back to 0.0006 it goes. Once again, the "bashers" were right; RA stuck it to the buyers/believers. Nobody here can say they weren't warned.
Any lights going on yet?
Don't you realize that RA lies yet???
Actually, RA said he was offerred $75 million, but that was a lie too, just like all the prior lies.
Under $400,000 so far.
SilentDeath -
With a $20,000,000+ judgment against them, USXP probably won't be around by the end of the summer, let alone the end of the year. It's just a paper mill, you know.
There was never any doubt about that. Only the most gullible of the gullible believed he was not lying *this* time.
re: It looks like the 50 million -75 million was more BS from RA.
You can watch the bidding live here:
http://viewlive.ebay.com/pages/bidder.html?asdf&aid=21961&sid=40620&uname=watcher&ui...
They need to average over $150,000 per lot to reach the 50 mill RA hyped.
not stopped, waiting for a first bid on lot 11
The other 10 lots have sold for $100 to $725 each.
No way this is going to live up to RA and the pumpers' hype.
Many of the lots in the auction consist of multiple items.
Mundus vult decipi.
Universal Express Buy Back Program Defined
Universal Express, Inc. (OTC:USXP) announced today that its Board of Directors has authorized that 7% of all new monies raised will go toward the repurchasing of the Company's common stock in the open market from growing funding sources.
In addition, the Board has authorized up to 10% of the proceeds from any corporate sale or spin-off be utilized as part of the stock buy-back program.
Commenting on the stock buy-back USXP President and Chief Executive Officer Richard Altomare stated, "By agreeing to allocate 7% of all new monies raised toward the purchase of the Company's stock in the open market the Board of Directors is expressing its opinion that the current valuation being accorded the common shares does not reflect the solid future prospects for Universal Express."
That one hooked a *lot* of buyers back in '99. It worked so well, he did it again in 2001. I'd bet he could release that exact same PR today, and the boards would be awash with posts claiming *this* time will be different.
Tell big lies and sell worthless paper to the believers. That has been RA's agenda since day one, just like Urban and Vinnie of cmkx and pcbm, plus hundreds of others who never get the attention of the understaffed enforcement division of the SEC
RA announced a share buyback in 1999.
He lied. It never happened.
RA announced a share buyback again in 2001.
He lied again. It never happened.
He sold a lot of shares to the marks who believed him, though.
Why? Because RA lies about everything. Check the published record.
re: "the 21B o/s was as of_March_31_per_latest_10Q...then the Nevada SOS was updated on 4/23/07 showing 656M authorized....why is that?"
Ownership of the tapes does not confer ownership of the copyright on the contents.
Without a doubt.
Back to 0.0006 it goes. Looks like webcast didn't have the desired effect. Imagine how low it would be if RA told the truth for a change.
jking - It's actually much worse than those admittedly ugly numbers indicate.
For the past two years, RA has been dumping almost a Billion shares a month into the float. With $25 million in fines and disgorgement owing, it is beyond foolhardy for anyone to think he would institute a share buyback of any meaningful size.
Fortunately for RA and the hundreds of other penny paper mill scammers, there are plenty of marks out there who left foolhardy behind long ago.
Share count:
Mar 31, 2005 - 1,526,116,223
Mar 31, 2006 - 8,239,031,843
Mar 31, 2007 - 21,385,633,343
Today - RA's not telling, and he's not letting the transfer agent tell either.
Yes. Minimal.
re: "is the T/A gagged? how much is insider stake?"
To lure in new marks and keep the existing ones holding.
A share audit proved that claim was false.
The legal counsel was found by the court in SECF v USXP to have committed fraud.
re: "why would legal counsel claim that USXP has been shorted 10 to 20 times the issued shares?"
Acquisition of tapes does not confer ownership of copyright.
RA's record is full of lies. The $millions in judgements against him are partially based on just a few of them. If you want to believe a proven fraudster, go for it. Don't say you weren't warned.
Jackson collection is not listed as asset in the 10Q
Either usxp does not own the collection or RA filed a false report.
Oops.
Indicate the number of shares outstanding of each of the issuer's classes of
common stock as of the latest practicable date.
--------------------------------------------------------------------------------
Common Stock Outstanding at March 31, 2007
--------------------------------------------------------------------------------
Class "A" 21,385,633,343
Class "B" 1,280,000
http://sec.freeedgar.com/displayText.asp?ID=5196924
He *said* he turned down 75 million.
but
The record proves he is a liar.