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Happy New Year and hoping and praying for a better year for all! Latest from Orie " The CPA and his son were also sick for a while which delayed all prep work – which is now complete and at the hands of the auditor who is the auditor for entity that we will reverse into."
YW...Happy and Safe holidays!!
From Orie last week:
"We are still in the midst of the audit. It takes longer than we expected with additional request for details from the auditors. Doing remotely does not help in expediting. I can’t give you any dates to finishing the audit but we are busy providing all the requested new details. I am told that they are making progress but no time commitment.
I’ll keep updating the shareholders as soon as I have some more concrete information. Like everything else this year – we need to take a deep breath..
Good job...thanks
Orie said that it should be done in 3 months...I think thats a few? Hey all I know is that I have emailed him for 3 yrs. and he usually responds and is not hiding anywhere, but who knows for sure.....just hoping, waiting and emailing him every couple of weeks for progress...we shall see.
Personal email...Orie's explanation of 14 Q's: "Well, to get 2 years audits they require to compare it to the year prior and then to show first 2 quarters of this year so a total of 14."
Latest update: " Audit is moving along. There are 14 quarters that need to be audited – so it takes time but will get done.
I will update as soon as there is any milestones achieved and passed."
Well it looks like someone is burning a little for some reason...you never know
Been ready for years...change for the better hopefully and in our lifetime would be nice. :))
Orie, "Moving along. hope to complete within 90 days...got SEC recognition of our plan in writing! stay safe"
So you don't think this will work?
"At the advice of our legal team and as part of the going forward plan (described below), we elected to enter into a settlement agreement with the SEC. As a result, the COHO shares will be deregistered effective upon notice by the SEC which is expected any day. This action means that our shareholders can still trade shares, however not through trading through broker dealer handled transactions.
Orie Rechtman, CEO commented: “We have a plan, that was described to the SEC. The SEC did not give approval, or provide any comment, on the plan and no approval for the plan by the SEC should be construed as having been given by it. The plan is more fully described below.”
The case with the SEC will be settled (which is about to take place once the SEC processes the paperwork). The next step will be to perform an audit for the last 2 years on one of the Company’s subsidiaries. Once the audit is completed, the subsidiary will file a Form 10 to register the subsidiary with the SEC. By registering, it will come under the jurisdiction of the SEC and will be required to file SEC reports as a reporting company. Current COHO shareholders will receive a dividend of the stock of the subsidiary based on their ownership in COHO shares, and will have the option to become shareholders of the newly listed company once it’s approved. The plan expects that the Form 10 filing will become effective under SEC rules, the subsidiary will be able to register with FINRA and obtain a ticker symbol for its shares, and a broker dealer will be found to make a market in the subsidiary’s stock, such stock would then be able to be traded through broker dealer transactions for shareholders of the subsidiary and new shareholders."
Email Orie, I'm sure he will answer you.
Orie reply to clarification:"We are well into the execution of the plan. Wheels are in motion. This is not something that SEC gives approval – we just wanted to make certain we are completely transparent. "
Agreed!
Well in the next line he says that they will sign off on it. Sent a note to Orie for clarification. I don't think the lawyers would let him put this PR out if they didn't at least get a verbal from SEC lawyers the this was ok. imo
“We have a plan, that was described to the SEC. The SEC did not give approval, or provide any comment, on the plan and no approval for the plan by the SEC should be construed as having been given by it. The plan is more fully described below.”
The case with the SEC will be settled (which is about to take place once the SEC processes the paperwork).
Remember this one a few weeks ago:From Orie: "I am working on a plan to rescue all current shareholders." And then this one "Relax enjoy the weekend". Well he hasn't changed his tune...he said today, that we will hear something on Tues. and enjoy the weekend. Wish we heard today of course, but we shall see what all this means for us next week. glta
Enjoy the family and long weekend all!!!
I hear you...seems nothing much has gone our way here under Orie....even though he has a profitable pinky. We deserve something positive for sure. glta
Lol...what optimism. It=release from lawyers to publish the PR. He is doing "this"....don't know what "this" is yet....need PR....to avoid delist...imo.
Very sorry to hear...prayers to you and your family! From Orie from this past Monday: " It will happen shortly I am told"
PR written...in legal review..we shall see glta
Should hear something from Orie soon that should help us shareholders....not sure to what extent...we shall see.
Also: "Relax enjoy the weekend"
Seems confident he can do something for us...we shall see.
From Orie: "I am working on a plan to rescue all current shareholders."
Ok, so you are saying it's perfectly fine for them to ask Orie to produce 10yrs. of audited fins that he has owned for almost 3 and the one from 10 doesn't exist anymore? It's impossible to do. Ories company is a legit company making money, and he is willing to produce the last 2 yrs. to prove it...why would they need more than that....what would that prove..and they know he can't do it.
I read somewhere not long ago...can't remember where....that a company had the same problem and the SEC let them produce their last 2 yrs. and they were able to move forward, Why would this be any different, unless the SEC knows something we don't???? Makes no sense....imo.!!!!!
Att. shareholders!! Must READ! From Orie:
I think shareholders should revolt against the SEC.
Flood them with letters and tweets. Post it anywhere
ORIE RECHTMAN
CEO
From: Orie Rechtman
To: 'CommissionerRoisman@sec.gov' <CommissionerRoisman@sec.gov>; 'CommissionerPeirce@sec.gov' <CommissionerPeirce@sec.gov>; 'CommissionerLee@sec.gov' <CommissionerLee@sec.gov>; 'chairmanoffice@sec.gov' <chairmanoffice@sec.gov>; 'smallbusiness@sec.gov' <smallbusiness@sec.gov>
Subject: SEC VS Crednology Holding COHO
Hello
I am the CEO of Crednology Holding Corp Inc. COHO. I acquired the company 4 years ago from previous management.
We received a letter from the SEC last month that we are going to be delisted since, in 2010 there was a filing by the management of the company at that time (Several times the ‘shell’ changed hands since) that the SEC will delist us unless we file 10 years of audited financials. You might as well ask us to part the Red Sea. The companies do not exist. We are a real company with real technology business and profitable. We are current on all our filings and did everything that we had to do to build and maintain shareholders’ value. Had the SEC made it known than that the company was in violation we would not have purchased the previous company who ALSO had no idea that the previous management to them - was in violation.
This is completely unrealistic demand. Our lawyers are getting nowhere trying to find a solution with the SEC lawyer Vanessa Countryman.
Shareholders will get hurt at no fault by them and by no fault of ours and there is NOTHING that we can do to accommodate this demand.
We kindly ask you to help us in finding a solution that is doable – we can audit the last 2 years of our financials or anything else that you can think of but please – let’s be realistic here and not hurt shareholder by getting us delisted.
Please contact me URGENTLY. We are days from getting delisted and need your help
Sincerely
ORIE RECHTMAN
CEO
Los Angeles
San Diego
San Francisco
New Jersey
PHONE 818 465 1300
DIRECT 818 465 1295
www.4service.com
www.itatonce.com
www.evolvepartners.com
www.californiarecycles.com
Well, believe it or not:) "I will not rest until I will find a solution for the shareholders. "
sam: "Yes I took it down when the new management came in and now we will wait for the SEC to respond. I will not rest until I will find a solution for the shareholders. "
rinoo: "We hired an excellent security law firm to have them work with the SEC. They are in discussions to find out the best solution for us."
Well you seems well versed to put him in his place and want someone to do it...you know much more than me...so go for it!!! Let us know.
Go for it!!
PHONE 818 465 1300
DIRECT 818 465 1295
www.4service.com
www.itatonce.com
www.evolvepartners.com
www.californiarecycles.com
Also asked him if the deal was still on when this get's cleared...his answer: "Yes that is the plan but it might weeks though before we know anything from the Sec, but I am determine to do all I can to make it work for all."
From Orie....asked him to twitter or give me something to post about developments...he gave me something to post:
Attention COHO shareholders. As you all know the SEC – upon receiving the 8K notice from the new management of COHO on July 8th, immediately declared Caveat Emptor and took the position that in order to remove this designation the company will have to produce 10 years of audited financials which is impossible to achieve and had we had this information in 2016 we would not have entered into a transaction with former COHO management. SEC had the opportunity to inform management within reasonable time of the form 15 filed in 2010 but never did until now.
Our lawyers are making attempts to find a different solution one of them is the possibility of us providing a 2 years audited financials of COHO past 2 years. I have already started making all preparations for such event. We will continue to work with the SEC to restore trading while looking at all alternatives available. This action by SEC affects current shareholders and is extremely frustrating for all especially when we are told that any response from SEC today can take weeks however the Caveat Emptor took one day.
I will continue to communicate with Shareholders on any new developments as they happen.
Ok, one last email reply from Orie. I inquired about our toxic debt still in the books...his reply.
"I was not party to that but Tangier and them worked out a deal and I assume they will buy the notes but really, I have no information on this – just a hunch, since they are a multimillion dollar company"
rawman...."When the new owners filed the 8K for change of control the SEC immediacy demanded that they will file a Super 8K which also involves financial disclosures and elaborate in details about the new company as well as handle the matter of revoking the shell status through the new ownership.
The new management security lawyer is working on it and it should be filed shortly according to them."
So rawman I am no expert but this reads to me that the SEC suspended COHO due to more info. from the NEW company. We would not be suspended right now if we were still COHO under Orie and this didn't happen????
Nice...thanks for that DD!
Per Orie on suspension of COHO:FYI
"When the new owners filed the 8K for change of control the SEC immediacy demanded that they will file a Super 8K which also involves financial disclosures and elaborate in details about the new company as well as handle the matter of revoking the shell status through the new ownership.
The new management security lawyer is working on it and it should be filed shortly according to them.."
Email:
Orie Rechtman <orie@4service.com>
To:
Wed, Jul 8 at 12:46 PM
This could be a positive development for long-term shareholders which i am one of now.
Best regards
Sent from my T-Mobile 4G LTE Device
Get Outlook for Android
Not fake...direct email from Orie...I've been here too long to put out fake news :))
ccret: This is tough for sure ...really thought Orie was our guy and told him so, however I think?? he thinks this might work out better for us and is now also a shareholer just as we are and I'm sure he doesn't want to lose money either. I have been in close contact with him over the yrs. as you , and it seems that most everything he tried just didn't work out for some reason. So. I'm hoping he felt this was best for him and us...we shall see....hang in there....praying also and pray all works out for you and your great family!
From Orie, "This could be a positive development for long-term shareholders which i am one of now.
Best regards
Sent from my T-Mobile 4G LTE Device
Get Outlook for Android
I know he said "could" which sounds a bit scary but he couldn't say "will" of course. GLTA