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Typical PSS victim. You pick a pump and dump moment during a 99% decline and claim to have made big bucks from it. I've been warning people about this stock since it was over a dime a share. I was right. It's a scam. Keep buying, maybe you'll learn something.
You should have taken heed of the warnings, Derek8.
Go ahead and buy again. The more you lose the more likely you are to learn something.
Nope. USXP has been nothing but a pumping dumping paper mill from the day RA took over the PKGP shell. The current court case is for violations committed prior to 2005. There are plenty of grounds for the SEC to sue again for violations since then.
jking - He should have gone with my slogan:
Luggage Express - When Calling FedEx Yourself is Too Much Work
`
Customer calls luggage express, LE calls FedEx. Where's the need for that? LOL
The "endless supply of shares" has been coming from RA. Read the filings and see the dilution.
The only manipulation seen on USXP was RA's, via the issuance of intentionally false and misleading press releases.
Disgorgement and fines could send USXP into bankruptcy.
I don't see any way he can avoid it. He may appeal, but that would probably require the posting of a bond to cover disgorgement and fines. USXP doesn't have that kind of money, so it's all over but the whining, imo.
In a 47-page Opinion and Order, the judge ruled against USXP today.
"the SEC’s motion for partial summary judgment against the Organizational Defendants (doc. #123) is granted on all claims, and the Organizational Defendants’ cross-motion (Doc. #127) is denied.;"
It's up on Pacer - http://ecf.nysd.uscourts.gov/cgi-bin/ShowIndex.pl
Case # 1-04-cv-2322
Don't forget to thank the helpful "bashers" who warned this would happen.
13,993,933,343 shares outstanding as of Sep 30, 2006 -
http://sec.freeedgar.com/displayText.asp?ID=4760605
It's probably much higher by now.
Good for you. Keep buying. RA's got lease payments to make on the his and hers Mercedes'.
That's one of the false press releases which got RA sued.
USXP's suit against the SEC was thrown out.
The SEC's suit against USXP is currently in court.
Don't be standing in the way of the door when a decision is announced.
Don't be such a sore loser, iternity.
I warned you USXP was a scam long ago when the share price was significantly higher.
Your anger would be better directed at RA. He's the one who lied to you and got your money.
It's in the complaint in SEC v USXP. Didn't you even bother to read it?
http://www.sec.gov/litigation/complaints/comp18636.htm
RA is *saying* he made new acquisitions. Look at the press release history. See how many acquisition announcements were false and misleading. See how many funding announcements were totally bogus. Check the dates of those PRs on the chart to see the pumps and dumps. It's all readily available for free.
Unfortunately, the SEC doesn't have the authority to shut down a company. All they can do is sue, which they are doing. It's in court. Courts are slow.
NSS is not an issue with USXP. The SEC did a share audit which showed naked shorting was de minimis.
I don't want any of the pumpers to sell any shares. I think it should be illegal to sell shares in a scam.
The SEC moves very slowly. The case is now before a judge.
When it comes to stopping penny scams, the SEC isn't very good. They only go after the worst of them like usxp. Most penny scammers get away with it, which is why it's such a popular form of theft - it's probably the safest.
And I've been right from the beginning. What's the problem?
His history of issuing false PRs and lying in interviews makes it very doubtful.
re: I am tring to find out that if what Altomare is saying could be true,
Rampant dilution belies RA's claims naked shorting brought the price down:
Check out the growth in share count.
Sep 30, 2000 - 29,811,904
Sep 30, 2001 - 138,481,294
Sep 30, 2002 - 275,321,169
Oct 15, 2003 - 581,081,080
Sep 30, 2004 - 828,394,540
Sep 30, 2005 - 3,240,151,723
Sep 30, 2006 - 13,993,933,343
The judgments had nothing to do with naked shorting. RA is lying about that, just like he has lied about most everything else.
SEC v USXP, Altomare, Gunderson, et. al. is ongoing, currently awaiting rulings on motions for summary judgment .
If the judge denies the motions, it will proceed to trial.
In March of 2005 RA said $40 million in Saudi funding was "imminent."
He lied then, and he'll be lying tomorrow.
Try this link for webcast
http://viavid.net/dce.aspx?sid=0000397C
November 20 was last date mentioned.
You could give him a call and ask. (If the phone's still working)
http://www.hquotient.com/sidebar/contactinfo.html
There hasn't been any ME funding.
That would be a material event requiring an 8K filing.
It is truly astounding that anyone believes a word RA says.
Do you really think the SEC just made this stuff up?
As to the fraud violations alleged against the USXP defendants, the USXP response again fails to controvert any of the relevant facts, which are therefore deemed admitted. Those facts demonstrate that USXP, Altomare and Gunderson issued press releases as to a series of transactions which fraudulently overstated the company’s access to financing, the status of various purported merger transactions, and the extent of the company’s existing business operations.
Judge Lynch's ruling will come without warning.
pdixon,
When the judge rules on the motions for summary judgment which were filed in SEC v USXP, Altomare, Gunderson, et. al.
re: "When the judge rules on what?"
One final dump before the judge rules on summary judgment motions.
Looks like RA doesn't want to be in the country when the ruling hits.
HNST is not responsible for distributing anything to people who were holding shares of hqnt at the time it ceased being a public company.
H-Quotient Announces Stock Distribution
VIENNA, VA -- October 12, 2006 -- H-Quotient, Inc. (PINKSHEETS: HQNT) announced today that it will distribute one share of Healthnostics, Inc. (PINKSHEETS: HNST) for every two shares of H-Quotient, Inc., (HQNT) stock held by HQNT stockholders of record on October 23, 2006. The distribution will occur on or before November 20, 2006.
Anybody get any shares?
In SEC v USXP, final replies to responses to motions for summary judgment are due on Monday.
Judge Lynch could rule as early as next week.
Now that HQNT is no longer a public company, Cohn is under no obligation to distribute anything to the shareholders.
It's over.
http://www.sec.gov/litigation/admin/2006/34-54674.pdf
Pursuant to Exchange Act Section 12(j), the registration of each class of Respondent’s
securities registered pursuant to Exchange Act Section 12 be, and hereby is, revoked.
ramjet - Yes, but only for shells that that are up to date with sec filings.
search for "shell companies" and you'll find many clean shells available to purchase.
MAKIN CASH -
You may have missed this action by the SEC.
http://www.sec.gov/litigation/admin/2006/34-54523-o2.pdf
HQNT isn't going to be a shell, it's going to be gone.
September short interest figures are out.
http://www.otcbb.com/asp/OTCE_Short_Interest_popup.asp?Symbol=USXP&StlmtDt=09/15/2006
That's a rerun of last Thursday's PR.
http://biz.yahoo.com/bw/060921/20060921005512.html?.v=1