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All documented evidence. Don’t you think the other side would call out IF there wasn’t evidence?
It’s all about facts and documentation. Irrefutable facts.
Nope, no revisionist history allowed by ANYONE.
All of the public Court Papers and filings are evidence.
Misinformation.
To reiterate , no shareholders were destroyed. Neither loan was ever converted. The plan was to pay them off because funding was substantial. The reaudit canceled that plan. Just one of the mitigating factors that are undeniable and documented.
The loans were “settled” litigation on June 18,2018 , but paid less as a discount because DBMM was able to renegotiate. New info put DBMM in the driver’s seat. Remember Hope Capital case Ordered Undertakings.
Flourless debentures Huh?
They were never converted and info was from Court Filings and documented to SEC as proof of what the reaudits cost and what was lost.
Asher still is an active corporate entity according to documentation provided last week, but they were surely put out of operating business.
All my posts are based on court papers or filings so it is documented. It is chronologically accurate and is not opinion.
Full stop.
Get chronology correct and read court papers.
The 2 remaining loans would have been paid easily as (documented) funding was in hand coincident with filing the 10-k that year. Two weeks before filing, the SEC reaudit mandated.
And so it began, reaudit, litigation, lost funding.
IMO Asher was sorry they ever tried to steal DBMM. Their went out of business . Full stop.
That was yesterday, this is today, and the future for DBMM staying the course tenaciously is very, very bright.
All factual posters and readers will find the brief informative.
To be clear: MF is one of the most iconic of SEC litigation attorneys who has made law over and over. She also wins.
Question: Is the world flat?
Digital avenues are allowed by the SEC because the world has changed and digital access to shareholders is appropriate.
Read MF brief, (April, 2021) which Enforcement did not respond to.
The PFR was Enforcement view, superseded by Corp Fin and they will be called on it. If their Corp Fin comments were validated, they must be filed in EDGAR as affecting the status of the filings. They are not. Deliberate ploy to delay.
The Commission needing briefs when responding in Jan, 2021 to Enforcement’s PFR of Dec 2019 because all Commissioners were new and over a year after PFR Motion. There was no one as Chair as GG not appointed in Dec 19. No Chair and all new sitting Commissioners , so no one knew anything about the case and used Enforcement’s language to grant PFR. What was key, however, and stated in granting the PFR:
The Commission concluded that “‘briefing in the ordinary course…would assist the Commission. This appeal raises issues as to which we have an interest in articulating our views and important matters of public interest , including the proper application of the standard that governs determination of sanctions in a Section 12(j) proceeding.”
IMO , The Commission intends to articulate that one size does not fit all—and this is a matter of public policy. That is why there is judicial discretion as stated by Chief Justice Foelak in her Dismissal. Gateway factors in place.
Totally incorrect . Corp Finance would NOT have filed into EdGAR if they, as the policy makers, were not the last word.
Enforcement thought they emigrate and cherry-pick old opinions from 2017-2028 Corp Fin and carry them forward, when DBMM went directly to the management and got approval for being totally compliant. That is why they there is an Edgar filing, the SEC Final word, and why DBMM has been deemed compliant and JudgeFoelak rendered a Dismissal.
No opinions required, these are the documented facts.
Enforcement
The SEC has allowed for Updates on Company sites to be interchangeable with Press Releases as long as publicly available to shareholders.
Have posted the order /regulation many times already.
Agree with tomato/tomato.
Asher may not be operational but remains a company, just like all the networks of Kramer companies.
Still, active Company isn’t it??
https://opencorporates.com/companies/us_ny/3711184
Nope, Not according to SEC ALJ Chief Justice Foelak., who said DBMM tried to protect its shareholders from a series of mitigating circumstances, especially Asher.
All the facts attested in Court Papers and Company filings , so do a little math, hundreds and hundreds of thousands of dollars have been spent from the reaudit to the litigation through the cure and the SEC , which could have been spent on growing the Company— the whole intent of acquiring Digital Clarity. The Company’s MD&As state how distractions had to be dealt with first.
From the Asher network and others who saw a way to steal the company and/or by shorting the stock
In nefarious ways.
Instead DBMM stopped them and had continued to thwart them. The Judge stated in an attempt to protect the shareholders.
The Court Papers briefed by the Company lawyer indicate the bad actors who are defined by SEC and FINRA are known . They will be dealt with . but for now, dropping the CE is enough.
The CE will drop and the Company will grow as it intended since the reaudit , which happened soon after the acquisition. All this time , effort, money and resources could have been spent on growth and targeting additional acquisitions.
Stay tuned.
Neither true.
Cannot go on forever as the Company has legal options, like an expedited hearing in DC which will be open to the public. For one, and there are others.
This case had been prosecutorial overreach and sloppy work, IMO. Read Maranda Fritz’s brief— which Enforcement never answered.
And DBMM has fulfilled every requirement and why they are Pink Current. Only remaining is 15c2-11, which is in process sponsored by broker.
Agree for sure time to return to normal trading and normal business.
But need to clarify: Enforcement is one division which appeared because there were late filings, which have been cured for years. They have no authority to direct anything so want to be clear.
The Commission has to close the case. The full Commission is GG and new Commissioners, and they has recent brief from dbmm( Very good read, April 2021 by Maranda Fritz) and a brief from Enforcement.
The Commission did NOT disagree with the Judge. Enforcement, 1 of the 4 divisions didn’t agree .
Enforcement did not read Corp Fin’s approval in EdGAR. Enforcement’s cherry picked people never spoke to the Company and were superseded by NEW Corp Fin review and amendment to 10-k and filed accordingly in EdGAR.
Enforcement asked for the review ignoring the policy makers in Corp Fin on Oct 5, 2019 . Dismissal followed.
The Commission has to close the case . That’s all.
They are working to protect short sellers, of all varieties.
DBMM went for the throat with Asher and will do the same here , IMO.
And hearings in DC are public, aren’t they? Now there is sunlight and disinfectant.
But let’s drop CE first and come fully armed with facts.
Wrong,
A Super 10-K submission was approved, as required , by the SEC Judge in order to cure delinquent filings.
That was approved by the Judge, and if Q’s are required, than a Super 10-K would not be allowed.
Shining a light on the absurdity of approving a Super 10-k which are annual audits of financial statements, so all data is AUDITED and then suggest quarterly Q’s are required when Q’s are reviews , has no logic as stated by Judge Foelak.
There would be no Super 10-k approved if that was the case. The Commission approved Super 10-ks, Enforcement doesn’t make the rules, Corp Finance does with concurrence by the Commission.
Corp Fin approved DBMM submission and filed in EdGAR on October 5, 2019 and the case dismissed November 12, 2019.
These are facts and they will prevail, and the CE will be dropped by FINRA , just like DBMM was acknowledged Pink Current on September 28,2021.
Expect action and stay tuned.
The ban on US buying was September 28, 2021, coincident with the amendments to the 15c2-11.
DBMM was suspended for 10 days coincident with delayed filings AP on May 17,2017 , Expert Market until acknowledged Pink Current.
CE Removal is underway and very visible.
Two extensions for delayed filings on DBMM, when there has never been an extension before.
The highlighted prosecutorial misconduct could stand some sunlight as a disinfectant.
Commissioners have been replaced and replaced and no one is paying attention to this case which should have concluded with the Dismissal. IMO That will prove to be a grevious error for 1 of 4 divisions in the SEC.
There will be action here, ignore childish speculation. Wheels are turning, DBMM is Pink Current and unshaken.
Just stay tuned.
The legal standing is the Judge’s Order, the Dismissal.
That is the legal standing, not an individual’s opinion.
What easy way? To agree to be revoked? That puts the Company out of business. Short sellers love that “easy way.”
Rather show some grit, and provide evidence that the genesis of the problem was the reaudit and the subsequent events caused to a small, developing company with a new acquisition and growth model.
Why does the SEC come after OTC companies only? This is a public policy issue which deserves analysis. The SEC’s litigation statistics since 2016 which are public information are cause for concern: Every year approximately 120 cases are for delayed filings , which are between 12-15% of total litigation and ONLY brought on OTC
companies. How are same numbers appearing like a target every year?
When there are mitigating circumstances as Gateway allows, compliance first, then dismissal is the appropriate solution.
DBMM “punishment” lacks proportionality —also a legal test in litigation. Instead DBMM tenaciously provided 3 years at a cost of over $150k documented, litigation because of reaudit, loss of funding,requirement to find proper long-term investors —all through no fault of DBMM .
All documented. All public information.
The SEC cannot have one size fits all unless it is a law passed by Congress.
There is a 10-day suspension for delayed filings at the front end, and that is only applied to OTC companies.
That in and of itself is inappropriate application as due process not provided if there is a pre-determined outcome. Enforcement has been allowed to take the easy way out and say everyone should be revoked and that is not what the regulations under the Gateway case provide.
The regulations provide for mitigating circumstances which are proven and documented which is what DBMM did. Judge Foelak considered all aspects as stated in Dismissal.
There is not a cookie cutter requirement. There was evidence proving DBMM’s case and was acknowledged by the Judge. Read Maranda Fritz brief in April, 2021.
All public information.
For the zillionth time, the dismissal is the standing order from the Judge.
Orders must come from a Judge. That is why the legal standing is a dismissal.
Last order from a Judge. Full stop.
There has never been an extension for delayed filings decision.There is no comparability with Wells Notices, Cease & Desist Orders, Fraud and Sale of Unregistered Securities.
IMO the overreach of one of the Four divisions of the SEC injecting a review is prosecutorial misconduct .
Total waste of taxpayer’s money and an embarrassment to the agency, IMO. The Dismissal was Nov 12, 2019.
Nope, DBMM won.
All documented.
Read the court filings and company filings.
DBMM did an acquisition during the Great Recession and prevailed with debt service until reaudit, then because of reaudit the only 2 remaining notes remained.Previous notes all repaid.
DBMM managed the settlement on their terms for far less than judgment which only had interest up until 2015, on June 18, 2018.
DBMM stopped Asher’s attempts to steal the Company.
Look up the definition of RICO —
Companies are intertwined, while operating separately. No Venn Diagram for illegal activities.
Asher still named in lawsuits and any action involving one, brings a listing of all 10+ companies.
Asher got beat by DBMM and despite handstands and all kinds of dirty tricks got bested. DBMM won and walked away, Asher went out of business.
DBMM has done no Convertible Debentures since 2015 . Onward and upward for DBMM , remove CE and grow, grow , grow to NASDAQ.
Stay tuned.
It is not defunct when it is still in existence and part of a network of companies . Not defunct.
It is very much alive and could be sitting on who knows what as smokescreen.
Stay tuned.
A company with long term investors does not go bankrupt—ever.
Asher is not a defunct company as it is one of many in a network of Kramer companies all intertwined, all headed by Curt Kramer, doing various kinds of quasi-legal/illegal activities.
The very definition of RICO.
Stay tuned.
Words from the 1940’s belie reference to a time gone by decades.
Financial world 2022 is digital, and yes whales buy OTC Stocks long-term, not to trade, but as a HOLD for Exit when they elevate to NASDAQ. They like the Company product, the management , the CE removal and the outlook.
More misinformation and no facts.
How are there many posts when there can be no citations after one month? There are also posts on funding, debt renegotiation, and dismissal all echoed in 10-K.
No accountability at all IMK
Read the MD&A’s since funding documented in Jan 2018 under Judge’s Confidential Order as stated, which also included costs of reaudit. Whales are here for the duration. It took 2 years to find the right long- term investors and they are here for the duration.
Irrelevant how many times bankruptcy is mentioned with no basis, IMO , they like the Company, the Management, the growth and NASDAQ.
The CE is coming down , and good times ahead.DBMM has been current since July,2018. No one is going anywhere.
Stay tuned.
There is obvious proof that has surfaced in lawsuits , and most recently cited by regulators. that another revenue stream for convertible debt beyond discount and interest, is short selling.
GTII , Citadel and Asher being recent examples and lawsuits with several other companies.
Really?? Public information states that network of companies conducting illegal activities fits Asher and fits Citadel.
There are many more.
DBMM was the first Dismissal. Others had to find more circuitous routes like ‘revocation reversed on appeal”, for one.
These are the facts.