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JUNP wont move not unless CEO plans to pay business license(revoked),not unless he plans to sell this shell to another buyer otherwise this is a dud
WASHINGTON (AP) — A bill to renew a package of more than 50 expired tax breaks cleared its first hurdle in the Senate Tuesday.
Other hurdles remain, however.
The Senate voted 96 to 3 to open debate on the bill, which has strong backing from the business community but would add about $85 billion to the budget deficit.
Almost every year, Congress routinely renews the tax breaks. This year, though, they were allowed to expire at the start of the year. The Senate bill would extend the tax breaks through 2015.
"Our constituents are depending on us to extend these provisions," said Senate Majority Leader Harry Reid, D-Nev. "We will not pull the plug before our nation's recovery is complete. By passing this tax extenders package we will build our nation's economy more quickly."
The tax breaks enjoy broad bipartisan support. But some Republican senators want the opportunity to change the package, and it's not clear whether Reid will allow amendments.
.. View gallery
FILE - This July 1, 2013 file photo shows Sen. John …
FILE - This July 1, 2013 file photo shows Sen. John Thune, R-S.D. speaking with reporters on Capitol …
Republican amendments include making some of the tax cuts permanent while adding others, including the repeal of a medical device tax that helps fund President Barack Obama's health law. Republican senators may be forced to choose between blocking a bill that provides popular tax breaks and accepting it unchanged.
"Americans deserve tax certainty, not more short-term measures," said Sen. John Thune, R-S.D.
Thune said he wants to offer several amendments, including a permanent ban on state and local Internet access taxes. A temporary moratorium on such taxes is due to expire Nov. 1.
The package pairs broad tax breaks that benefit millions with narrow ones that don't.
Among the biggest breaks for businesses: A tax credit for research and development, an exemption that allows financial companies to shield foreign profits from being taxed by the U.S., and several provisions that allow businesses to write off capital investments more quickly. There is also a generous tax credit for using wind farms and other renewable energy sources to produce electricity.
The biggest tax break for individuals allows people who live in states without an income tax to deduct state and local sales taxes on their federal returns. Another protects struggling homeowners who get their mortgages reduced from paying income taxes on the amount of debt that was forgiven.
Other more narrow provisions include tax breaks for film and theater producers, NASCAR race track owners, manufacturers of electric motorcycles and teachers who spend their own money on classroom supplies.
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http://finance.yahoo.com/news/senate-votes-open-debate-renewing-tax-breaks-154425118--finance.html
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http://blogs.wsj.com/cfo/2014/05/02/new-penny-stock-listing-rules-require-executive-certifications/?mod=WSJBlog&utm_source=CFO+Journal&utm_medium=Twitter
Chief executives and chief financial officers of some U.S.-listed penny stock companies are set to start signing off on their corporate information, signaling a corporate governance upgrade for some of the nation’s tiniest companies.
Due to new listing standards implemented by OTCOTCM 0.00% Markets’ Venture Stage Marketplace this week, the companies, which include early and development-stage firms, will be required to have their executives certify annually that their results are up-to-date in order to stay listed on that exchange. Those companies will also need to trade at a minimum of $0.01 per share, and make more information available to investors.
Bloomberg
CEOs and CFOs of large public companies have had to sign certifications on corporate results since the Sarbanes-Oxley Act of 2002.
OTC is implementing the new requirements “to improve transparency” and keep out businesses especially prone to involvement with “nefarious” characters, the company said in an e-mail to listed companies. It aims to emulate similar venture exchanges in Canada and London that specialize in listing early-stage companies.
Some OTC companies wanted to trade on an exchange with “moderately high standards,” OTC said. The company still operates its Pink exchange which has no listing standards.
More than 3,000 securities trade on the OTC’s Venture Stage Marketplace, and the exchange is removing companies that don’t meet the new requirements.
The $0.01 minimum share price is designed to eliminate those companies most prone to “stock fraud schemes or promotions,” OTC said. “Any company that has traded below a penny for any length of time is not creating value for its shareholders,” it said.
Write to John Kester at John.Kester@wsj.com.
http://blogs.wsj.com/cfo/2014/05/02/new-penny-stock-listing-rules-require-executive-certifications/?mod=WSJBlog&utm_source=CFO+Journal&utm_medium=Twitter
Chief executives and chief financial officers of some U.S.-listed penny stock companies are set to start signing off on their corporate information, signaling a corporate governance upgrade for some of the nation’s tiniest companies.
Due to new listing standards implemented by OTCOTCM 0.00% Markets’ Venture Stage Marketplace this week, the companies, which include early and development-stage firms, will be required to have their executives certify annually that their results are up-to-date in order to stay listed on that exchange. Those companies will also need to trade at a minimum of $0.01 per share, and make more information available to investors.
Bloomberg
CEOs and CFOs of large public companies have had to sign certifications on corporate results since the Sarbanes-Oxley Act of 2002.
OTC is implementing the new requirements “to improve transparency” and keep out businesses especially prone to involvement with “nefarious” characters, the company said in an e-mail to listed companies. It aims to emulate similar venture exchanges in Canada and London that specialize in listing early-stage companies.
Some OTC companies wanted to trade on an exchange with “moderately high standards,” OTC said. The company still operates its Pink exchange which has no listing standards.
More than 3,000 securities trade on the OTC’s Venture Stage Marketplace, and the exchange is removing companies that don’t meet the new requirements.
The $0.01 minimum share price is designed to eliminate those companies most prone to “stock fraud schemes or promotions,” OTC said. “Any company that has traded below a penny for any length of time is not creating value for its shareholders,” it said.
Write to John Kester at John.Kester@wsj.com.
http://blogs.wsj.com/cfo/2014/05/02/new-penny-stock-listing-rules-require-executive-certifications/?mod=WSJBlog&utm_source=CFO+Journal&utm_medium=Twitter
Chief executives and chief financial officers of some U.S.-listed penny stock companies are set to start signing off on their corporate information, signaling a corporate governance upgrade for some of the nation’s tiniest companies.
Due to new listing standards implemented by OTCOTCM 0.00% Markets’ Venture Stage Marketplace this week, the companies, which include early and development-stage firms, will be required to have their executives certify annually that their results are up-to-date in order to stay listed on that exchange. Those companies will also need to trade at a minimum of $0.01 per share, and make more information available to investors.
Bloomberg
CEOs and CFOs of large public companies have had to sign certifications on corporate results since the Sarbanes-Oxley Act of 2002.
OTC is implementing the new requirements “to improve transparency” and keep out businesses especially prone to involvement with “nefarious” characters, the company said in an e-mail to listed companies. It aims to emulate similar venture exchanges in Canada and London that specialize in listing early-stage companies.
Some OTC companies wanted to trade on an exchange with “moderately high standards,” OTC said. The company still operates its Pink exchange which has no listing standards.
More than 3,000 securities trade on the OTC’s Venture Stage Marketplace, and the exchange is removing companies that don’t meet the new requirements.
The $0.01 minimum share price is designed to eliminate those companies most prone to “stock fraud schemes or promotions,” OTC said. “Any company that has traded below a penny for any length of time is not creating value for its shareholders,” it said.
Write to John Kester at John.Kester@wsj.com.
http://blogs.wsj.com/cfo/2014/05/02/new-penny-stock-listing-rules-require-executive-certifications/?mod=WSJBlog&utm_source=CFO+Journal&utm_medium=Twitter
Chief executives and chief financial officers of some U.S.-listed penny stock companies are set to start signing off on their corporate information, signaling a corporate governance upgrade for some of the nation’s tiniest companies.
Due to new listing standards implemented by OTCOTCM 0.00% Markets’ Venture Stage Marketplace this week, the companies, which include early and development-stage firms, will be required to have their executives certify annually that their results are up-to-date in order to stay listed on that exchange. Those companies will also need to trade at a minimum of $0.01 per share, and make more information available to investors.
Bloomberg
CEOs and CFOs of large public companies have had to sign certifications on corporate results since the Sarbanes-Oxley Act of 2002.
OTC is implementing the new requirements “to improve transparency” and keep out businesses especially prone to involvement with “nefarious” characters, the company said in an e-mail to listed companies. It aims to emulate similar venture exchanges in Canada and London that specialize in listing early-stage companies.
Some OTC companies wanted to trade on an exchange with “moderately high standards,” OTC said. The company still operates its Pink exchange which has no listing standards.
More than 3,000 securities trade on the OTC’s Venture Stage Marketplace, and the exchange is removing companies that don’t meet the new requirements.
The $0.01 minimum share price is designed to eliminate those companies most prone to “stock fraud schemes or promotions,” OTC said. “Any company that has traded below a penny for any length of time is not creating value for its shareholders,” it said.
Write to John Kester at John.Kester@wsj.com.
http://blogs.wsj.com/cfo/2014/05/02/new-penny-stock-listing-rules-require-executive-certifications/?mod=WSJBlog&utm_source=CFO+Journal&utm_medium=Twitter
Chief executives and chief financial officers of some U.S.-listed penny stock companies are set to start signing off on their corporate information, signaling a corporate governance upgrade for some of the nation’s tiniest companies.
Due to new listing standards implemented by OTCOTCM 0.00% Markets’ Venture Stage Marketplace this week, the companies, which include early and development-stage firms, will be required to have their executives certify annually that their results are up-to-date in order to stay listed on that exchange. Those companies will also need to trade at a minimum of $0.01 per share, and make more information available to investors.
Bloomberg
CEOs and CFOs of large public companies have had to sign certifications on corporate results since the Sarbanes-Oxley Act of 2002.
OTC is implementing the new requirements “to improve transparency” and keep out businesses especially prone to involvement with “nefarious” characters, the company said in an e-mail to listed companies. It aims to emulate similar venture exchanges in Canada and London that specialize in listing early-stage companies.
Some OTC companies wanted to trade on an exchange with “moderately high standards,” OTC said. The company still operates its Pink exchange which has no listing standards.
More than 3,000 securities trade on the OTC’s Venture Stage Marketplace, and the exchange is removing companies that don’t meet the new requirements.
The $0.01 minimum share price is designed to eliminate those companies most prone to “stock fraud schemes or promotions,” OTC said. “Any company that has traded below a penny for any length of time is not creating value for its shareholders,” it said.
Write to John Kester at John.Kester@wsj.com.
http://www.otcmarkets.com/news/press-center/release/New-OTCQB-001-Bid-Price-Requirement-Effective-May-1-International-ExchangeListed-Companies-Now-Eligible-for-Trading?id=864
OTC Disclosure & News Service
New OTCQB $0.01 Bid Price Requirement Effective May 1; International Exchange-Listed Companies Now Eligible for Trading
May 01, 2014
OTC Markets News Service
As part of planned changes to the OTCQB marketplace, effective May 1, 239 securities were downgraded from OTCQB. These companies did not meet the new bid price requirement of $0.01 on at least one of the past 30 days or are undergoing bankruptcy or reorganization. For a complete list of companies that have been removed, see below. These companies are now trading on the OTC Pink marketplace.
Also effective May 1, international companies that are listed on a qualified foreign exchange and can meet the OTCQB minimum $0.01 bid price requirement are eligible for trading on OTCQB. For a full list of eligibility requirements for international companies, click here.
Company Symbol
A & C United Agriculture Developing Inc ACUG
AccelPath, Inc. ACLP
ACE Consulting Management, Inc. ACMG
Active With Me Inc. ATVM
Adama Technologies Corp. ADAC
Alternative Energy & Environmental Solutions, Inc. ALNWW
Alternative Energy Partners Inc. AEGY
Alterrus Systems, Inc. ASIUQ
AlumiFuel Power Corp. AFPW
Alvarion Ltd. ALVRQ
Amarillo Biosciences, Inc. AMARQ
Amboy Bancorporation ABYB
American Boarding Co. AMIB
American Commerce Solutions, Inc. AACS
American Cordillera Mining Corporation AUAG
American Liberty Petroleum OREO
Anglesea Enterprises, Inc. AGSE
Angstron Holdings Corp ANGP
Anpulo Food Development, Inc. ANPL
Appiphany Technologies Holdings Corp. APHD
APT Systems Inc. APTY
Arbor EnTech Corp. ARBE
Attitude Drinks Incorporated ATTD
Auxillium Energy, Inc. AXLM
Avalon Holding Group, Inc. AVLH
Avangard Capital Group, Inc. AVGC
Ayers Exploration, Inc. AYXE
B Green Innovations, Inc. BGNN
Ballroom Dance Fitness Inc BLDZ
Beeston Enterprises, Ltd. BESE
Bergio International, Inc. BRGO
Berkshire Homes, Inc. BKSH
Bio-Matrix Scientific Group, Inc. BMSN
BioNeutral Group, Inc. BONU
Bitzio, Inc. BTZO
BlueFire Renewables, Inc. BFRE
Bluegate Corp. BGAT
BMB Munai, Inc. BMBM
BOLDFACE Group, Inc. BLBK
Brazil Gold Corp. BRZG
Breezer Ventures, Inc. BRZV
Broadleaf Capital Partners, Inc. BDLF
Buckeye Oil & Gas, Inc. BOIG
CalciTech Ltd. CLKTF
Cancer Capital Corp. CNCL
Capac Bancorp Inc. CPBP
Capricor Therapeutics, Inc. CAPRW
Carbon Sciences, Inc. CABN
CEFC Global Strategic Holdings, Inc. CGSH
CellCyte Genetics Corp. CCYG
China Changjiang Mining & New Energy Co., LTD. CHJI
China Finance, Inc. CHFI
China Media, Inc. CHND
China Teletech Holding, Inc. CNCT
China Xibolun Technology Holdings Corp CXBL
Coldwater Creek, Inc. CWTRQ
Consorteum Holdings, Inc. CSRH
Cord Blood America, Inc. CBAI
Creator Capital Ltd. CTORF
Crowd Shares AfterMarket, Inc. CRDW
Crown Equity Holdings, Inc. CRWE
CryoPort, Inc. CYPTW
Data Call Technologies, Inc. DCLT
DC Brands International, Inc. HRDN
Digital Development Partners, Inc. DGDM
DLD Group, Inc. DLDG
Domain Extremes, Inc. DNME
DoMark International, Inc. DOMK
Dragon Bright Mintai Botanical Technology Ltd. DGBMF
Drywave Technologies, Inc. DWTP
East Coast Diversified Corp. ECDC
Eco Building Products, Inc. ECOB
Ecolocap Solutions, Inc. ECOS
eLayaway, Inc. ELAY
Emo Capital Corp. NUVI
Empirical Ventures, Inc. EMLV
Energy Edge Technologies Corporation EEDG
Entest BioMedical Inc. ENTB
Epicure Charcoal Inc EPCC
E-Waste Corp. EWST
Exide Technologies XIDEQ
Eyes on the Go, Inc. AXCG
FastFunds Financial Corp. FFFC
FEC Resources Inc. FECOF
FindEx.com, Inc. FIND
Finjan Holdings, Inc. FNJNW
Firefish, Inc. FRFS
Firemans Contractors, Inc. FRCN
First American Silver Corp FASV
First Mariner Bancorp FMARQ
First Xeris Corporation FXER
Flint International Services Inc. FNTSF
FNB Financial Corp. FNBB
Focus Gold Corp. FGLD
Forex International Trading Corp. FXIT
Freeze Tag, Inc. FRZT
Fresh Promise Foods, Inc. FPFI
Frontier Beverage Company, Inc. FBEC
Genco Shipping & Trading Ltd. GNKOQ
General Metals Corp. GNMT
Global Energy Inc. GEYI
Global Geophysical Services, Inc. GEGPQ
Global Resource Energy, Inc. GBEN
Global System Designs, Inc. GLSI
Gold and GemStone Mining Inc. GGSM
Gold Dynamics Corp. GLDN
Golden Global Corp. GLDG
Golden Phoenix Minerals, Inc. GPXM
Goliath Film & Media Holdings GFMH
Green Dragon Wood Products, Inc. GDWP
Green Endeavors, Inc. GRNE
Grid Petroleum Corp. GRPR
Hamilton State Bancshares (GA) HMBH
HDS International Corp. HDSI
Hubei Minkang Pharmaceutical Ltd HBMK
Hydrogen Future Corp. HFCO
IceWEB, Inc. IWEB
Idaho Bancorp IDBCQ
IDO Security, Inc. IDOI
Independence Energy Corp. IDNG
Infantly Available Inc IFAN
Infrastructure Developments Corp. IDVC
Infrastructure Materials Corp. IFAM
Innovative Product Opportunities, Inc. IPRU
Integrated Inpatient Solutions, Inc. INPT
Intellect Neurosciences, Inc. ILNS
Intelligent Buying, Inc. INTB
Internet Media Services, Inc. ITMV
Ironwood Gold Corp. IROG
Journal of Radiology, Inc. JRRD
Kenergy Scientific Inc. KNSC
Kingsway Financial Services Inc. KFSWF
Kiwa Bio-Tech Products Group Corp. KWBT
Kleangas Energy Technologies, Inc. KGET
Laredo Resources Corp. LRDR
Lehman ABS Corp. CCYPQ
Liberty Coal Energy Corp. LBTG
Ligand Pharmaceuticals Incorporated LGNZZ
Lightcollar Inc. LCLL
Line Up Advertisement Inc LUAD
Linux Gold Corp. LNXGF
Lion Consulting Group Inc LIOC
Load Guard Logistics Inc LGLR
M Line Holdings, Inc. MLHC
Macco International Corp MACC
MarilynJean Interactive Inc. MJMI
MarketingMobileText, Inc. MMTX
Mass Hysteria Entertainment Company, Inc. MHYS
Med One Oak, Inc. MOAK
Mercantile Bancorp, Inc. MBCRQ
Metrospaces, Inc. MSPC
Microelectronics Technology Co. MELY
Mind Solutions, Inc. VOIS
mLight Tech, Inc MLGT
Monster Arts Inc. APPZ
mPhase Technologies, Inc. XDSL
MultiCell Technologies, Inc. MCET
Nano-Antibiotics, Inc. NNAB
NaturalNano, Inc. NNAN
NeoMedia Technologies, Inc. NEOM
Net Savings Link, Inc. NSAV
Northcore Technologies Inc. NTLNF
Nutra Pharma Corp. NPHC
NYBD Holding, Inc. NYBD
Nyxio Technologies Corp. NYXO
Oakridge International Corp. OAKO
OICco Acquisition I, Inc. OCAQ
Oncologix Tech, Inc. OCLG
Online Disruptive Technologies, Inc. ONDR
Online Secretary, Inc. OSCY
Orion Financial Group, Ltd. ORFN
Overseas Shipholding Group, Inc. OSGIQ
Oxford Investments Holdings Inc. OXIHF
Pacific Gold Corp. PCFG
Pacific Therapeutics Limited PCFTF
Peptide Technologies, Inc. PEPT
Petron Energy II, Inc. PEII
PetroTerra Corp. PTRA
Pharmagen, Inc. PHRX
Portlogic Systems, Inc. PGSY
Positron Corp. POSC
POWRtec International Corp POWT
Primco Management, Inc. PMCM
PuraMed BioScience, Inc. PMBS
Q Lotus Holdings Inc. QLTS
Qurapps Inc QRPP
Qwick Media Inc. QWIKF
Ranger Gold Corp. RNGC
Rapid Fire Marketing, Inc. RFMK
Razor Resources, Inc. RZOR
Real Estate Contacts Inc. REAC
Rich Star Development Corp. RCHR
RJD Green Inc. RJDG
RJS Development, Inc. RJSD
Royal Standard Minerals Inc. RYSMF
RVB Holdings, Ltd. RVBHF
SAMEX Mining Corp. SMXMF
Santo Mining Corp SANP
Scientific Energy, Inc. SCGY
SGB International Holdings Inc. SGBHF
Sichuan Leaders Petrochemical Company SLPC
Signal Advance, Inc. SIGL
Silver Falcon Mining, Inc. SFMI
Solo International, Inc. SLIO
Source Gold Corp. SRGL
Spire Technologies Inc. SPTK
Stark Beneficial, Inc. SRKB
Steele Resources Corp. SELR
Sunergy, Inc. SNEY
Superdirectories Inc. SDIR
Swift Start Corp SWFR
TagLikeMe Corp. TAGG
TheDirectory.com, Inc. SEEK
theglobe.com, inc. TGLO
Toron, Inc. TRON
Trail One, Inc. TRLO
Trimol Group, Inc. TMOL
Type 1 Media, Inc. TPMD
UA Granite Corp UAGZ
UAN Power Corp. UPOW
Unilava Corp UNLA
Unique Underwriters Inc UUWR
United American Petroleum Corp. UAPC
Universal Bioenergy, Inc. UBRG
Universal Solar Technology, Inc. UNSS
Vanguard Energy Corporation VNGEW
Vesta International Corp. VSTT
Vican Resources, Inc. VCAN
Watchtower, Inc. WTWR
West Michigan National Bank & Trust WMIG
West Town Bancorp, Inc. WTWN
Wolverine Exploration, Inc. WOLV
World Surveillance Group Inc. WSGI
Worthington Energy, Inc. WGAS
Wowio Inc WWIO
Xerium Technologies, Inc. XRMWQ
Xun Energy, Inc. XNRG
Yacht Finders, Inc. YTFD
Zentric, Inc. ZNTR
where is the PR for that????
http://finance.yahoo.com/news/breaking-congress-does-something-pushes-184400372.html
BREAKING: Congress Does Something--Pushes $127 Billion in Tax Breaks
In a clear sign that Congress remains light years away from tax reform, the Senate Finance Committee on Thursday approved a bill to renew a grab-bag of tax provisions and loopholes that cost the Treasury billions of dollars annually and help a wide array of special interests, businesses and families.
Related Stories
Renewing tax breaks will have to wait for November, analysts say MarketWatch
Tax-Break Revival Said to Get U.S. Senate Committee Vote Bloomberg
Breaks For Commuters, Horses, Research Said to Get Vote Bloomberg
Lapsed Tax Breaks Get New Life as Panel Votes to Extend Bloomberg
U.S. Congress renews annual temporary tax laws fight Reuters
The tax breaks and credits cover not only corporate research and development, alternative and renewable energy and mass transit, but also major corporate land transactions, movie and TV production, NASCAR track operations and race horse owners.
Related: Senate Democrats Push a Hodge-Podge of Tax Measures
These dozens of tax credits have never been permanent in the federal tax code, but instead have been repeatedly granted temporary extension over the years, which is why they’re known on Capitol Hill as “tax extenders.”
Sen. Ron Wyden (D-OR), the new chairman of the Finance Committee, had signaled recently that he wasn’t going to tolerate business as usual, and was determined to scale back some of these expiring provisions to save the government money. By the time the dust settled yesterday, however, the committee had reauthorized all of the existing tax breaks – and threw in a few new ones for good measure. Members did it by voice vote, so that their names were not directly linked to this massive tax giveaway.
The two year price tag of the package is roughly $127 billion in lost revenue.
“Talk about taking wind out the tax reform sails,” said Steve Ellis of Taxpayers for Common Sense, a government spending watchdog group. “Speaking of which, the wind production tax credit got added back. This is a very inauspicious start to comprehensive tax reform in the new Chairman Wyden era.”
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, added her voice of disappointment to the tax reform backtracking by Wyden and the committee:
"There is a tremendous amount of time, energy and money going into protecting special tax breaks with very little attention to paying for the costs,” she said in a statement. “What this country should be doing is overhauling the disaster of a tax code to make us more competitive, grow the economy and reduce the debt. Instead we are seeing Washington at its very worst as special interests and members of Congress run to protect their favorite tax breaks."
Wyden found himself on the defensive and promised that this would be the last time these provisions were reauthorized without a major rewrite in the tax code.
Related: Dave Camp, Tax Warrior, Makes Last Stand on Reform
“By passing this bill, the Finance Committee has put an expiration date on the status quo,” he said. “The stop and go nature of these tax extenders contributes to the lack of certainty and predictability…. But it makes no sense to let these incentives disappear without a comprehensive reform proposal to replace them when jobs, innovation and research, and people's homes are on the line.”
The next stop for the extenders is the Senate floor, where members will have to go on record next week for or against the multi-billion-dollar tax package. Assuming the bill is approved, it then goes to the House, where Ways and Means Committee Chairman Dave Camp (R-MI) is trying to push through genuine comprehensive tax reform before he retires at the end of the year.
So what’s in the Senate Finance Committee package? Here are many of the two-year provisions, as compiled by Taxpayers for Common Sense:
Related: Obama Looks to Tax Reform to Save America’s Highways
Tax Credits for research and experimentation. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. Estimated cost: $6 billion over two years.
Tax break for reducing mortgage debt on a principal residence. Estimated cost: $3.48 billion over two years.
First-year corporate property depreciation deduction. Estimated cost $81.7 billion.
Real property expenses purchased in the conduct of business. Estimated cost $19.3 billion over two years.
Related: America’s Top Five Tax Breaks
Mortgage insurance premiums deductions on qualified residence. Estimated cost $1.06 billion over two years.
Deduction for state and local sales taxes. Estimated cost $3.38 billion over two years.
Deduction for tuition and related expenses. Estimated cost $359 million over two years.
Tax-free distributions from individual retirement plans for charitable purposes. Estimated cost $881 million over two years.
New markets tax credit for investments in corporations or partnerships. Estimated cost: $7 million over two years.
Railroad track maintenance credit. Estimated cost $279 million over two years.
Three-year cost recovery benefit for certain race horses. Kentucky Derby horses are three-year-olds. Then they make a lot more money in stud fees. Estimated cost $97 million over two years.
Related: Tax Reform Proposal Divides Republicans
A $1 per gallon tax credit for biodiesel, as well as the small agro-biodiesel producer credit of 10 cents per gallon. Estimated cost $2.6 billion over 10 years.
Work opportunity tax credit for employers hiring disadvantaged people. Estimated cost $1.4 billion over two years.
15-year cost recovery for restaurant, and retail building upgrades. Estimated cost $340 million over two years.
Credit for Plug-in Electric Motorcycles. Estimated cost $2 million over ten years.
Rebate on rum excise taxes imposed on Puerto Rico and the Virgin Islands. Estimated cost $310 million over two years.
A 30 percent investment tax credit for alternative vehicle refueling property, which includes fuel pumps for ethanol, biodiesel, liquefied hydrogen, and compressed or liquefied natural gas. Estimated cost $8 million over 10 years.
A production tax credit for cellulosic biofuel production facilities, allowing claims of a $1.01 per gallon production tax credit. Estimated cost $55 million over 10 years.
Here are some of the provisions excluded from the original markup that have been added back in before final passage:
Credit for nonbusiness energy property. Estimated cost $1.005 billion over two years.
Credits for producing energy from certain renewable resources. Estimated cost $191 million.
Seven-year recovery period for motorsports entertainment complexes. Estimated cost $15 million.
Energy efficient commercial buildings deduction. Estimated cost $282 million.
Special expensing rules for certain film, television, and theatrical productions. Estimated cost $424 million.
Modification of work opportunity tax credit. Estimated cost $1.575 billion.
http://finance.yahoo.com/news/breaking-congress-does-something-pushes-184400372.html
BREAKING: Congress Does Something--Pushes $127 Billion in Tax Breaks
In a clear sign that Congress remains light years away from tax reform, the Senate Finance Committee on Thursday approved a bill to renew a grab-bag of tax provisions and loopholes that cost the Treasury billions of dollars annually and help a wide array of special interests, businesses and families.
Related Stories
Renewing tax breaks will have to wait for November, analysts say MarketWatch
Tax-Break Revival Said to Get U.S. Senate Committee Vote Bloomberg
Breaks For Commuters, Horses, Research Said to Get Vote Bloomberg
Lapsed Tax Breaks Get New Life as Panel Votes to Extend Bloomberg
U.S. Congress renews annual temporary tax laws fight Reuters
The tax breaks and credits cover not only corporate research and development, alternative and renewable energy and mass transit, but also major corporate land transactions, movie and TV production, NASCAR track operations and race horse owners.
Related: Senate Democrats Push a Hodge-Podge of Tax Measures
These dozens of tax credits have never been permanent in the federal tax code, but instead have been repeatedly granted temporary extension over the years, which is why they’re known on Capitol Hill as “tax extenders.”
Sen. Ron Wyden (D-OR), the new chairman of the Finance Committee, had signaled recently that he wasn’t going to tolerate business as usual, and was determined to scale back some of these expiring provisions to save the government money. By the time the dust settled yesterday, however, the committee had reauthorized all of the existing tax breaks – and threw in a few new ones for good measure. Members did it by voice vote, so that their names were not directly linked to this massive tax giveaway.
The two year price tag of the package is roughly $127 billion in lost revenue.
“Talk about taking wind out the tax reform sails,” said Steve Ellis of Taxpayers for Common Sense, a government spending watchdog group. “Speaking of which, the wind production tax credit got added back. This is a very inauspicious start to comprehensive tax reform in the new Chairman Wyden era.”
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, added her voice of disappointment to the tax reform backtracking by Wyden and the committee:
"There is a tremendous amount of time, energy and money going into protecting special tax breaks with very little attention to paying for the costs,” she said in a statement. “What this country should be doing is overhauling the disaster of a tax code to make us more competitive, grow the economy and reduce the debt. Instead we are seeing Washington at its very worst as special interests and members of Congress run to protect their favorite tax breaks."
Wyden found himself on the defensive and promised that this would be the last time these provisions were reauthorized without a major rewrite in the tax code.
Related: Dave Camp, Tax Warrior, Makes Last Stand on Reform
“By passing this bill, the Finance Committee has put an expiration date on the status quo,” he said. “The stop and go nature of these tax extenders contributes to the lack of certainty and predictability…. But it makes no sense to let these incentives disappear without a comprehensive reform proposal to replace them when jobs, innovation and research, and people's homes are on the line.”
The next stop for the extenders is the Senate floor, where members will have to go on record next week for or against the multi-billion-dollar tax package. Assuming the bill is approved, it then goes to the House, where Ways and Means Committee Chairman Dave Camp (R-MI) is trying to push through genuine comprehensive tax reform before he retires at the end of the year.
So what’s in the Senate Finance Committee package? Here are many of the two-year provisions, as compiled by Taxpayers for Common Sense:
Related: Obama Looks to Tax Reform to Save America’s Highways
Tax Credits for research and experimentation. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. Estimated cost: $6 billion over two years.
Tax break for reducing mortgage debt on a principal residence. Estimated cost: $3.48 billion over two years.
First-year corporate property depreciation deduction. Estimated cost $81.7 billion.
Real property expenses purchased in the conduct of business. Estimated cost $19.3 billion over two years.
Related: America’s Top Five Tax Breaks
Mortgage insurance premiums deductions on qualified residence. Estimated cost $1.06 billion over two years.
Deduction for state and local sales taxes. Estimated cost $3.38 billion over two years.
Deduction for tuition and related expenses. Estimated cost $359 million over two years.
Tax-free distributions from individual retirement plans for charitable purposes. Estimated cost $881 million over two years.
New markets tax credit for investments in corporations or partnerships. Estimated cost: $7 million over two years.
Railroad track maintenance credit. Estimated cost $279 million over two years.
Three-year cost recovery benefit for certain race horses. Kentucky Derby horses are three-year-olds. Then they make a lot more money in stud fees. Estimated cost $97 million over two years.
Related: Tax Reform Proposal Divides Republicans
A $1 per gallon tax credit for biodiesel, as well as the small agro-biodiesel producer credit of 10 cents per gallon. Estimated cost $2.6 billion over 10 years.
Work opportunity tax credit for employers hiring disadvantaged people. Estimated cost $1.4 billion over two years.
15-year cost recovery for restaurant, and retail building upgrades. Estimated cost $340 million over two years.
Credit for Plug-in Electric Motorcycles. Estimated cost $2 million over ten years.
Rebate on rum excise taxes imposed on Puerto Rico and the Virgin Islands. Estimated cost $310 million over two years.
A 30 percent investment tax credit for alternative vehicle refueling property, which includes fuel pumps for ethanol, biodiesel, liquefied hydrogen, and compressed or liquefied natural gas. Estimated cost $8 million over 10 years.
A production tax credit for cellulosic biofuel production facilities, allowing claims of a $1.01 per gallon production tax credit. Estimated cost $55 million over 10 years.
Here are some of the provisions excluded from the original markup that have been added back in before final passage:
Credit for nonbusiness energy property. Estimated cost $1.005 billion over two years.
Credits for producing energy from certain renewable resources. Estimated cost $191 million.
Seven-year recovery period for motorsports entertainment complexes. Estimated cost $15 million.
Energy efficient commercial buildings deduction. Estimated cost $282 million.
Special expensing rules for certain film, television, and theatrical productions. Estimated cost $424 million.
Modification of work opportunity tax credit. Estimated cost $1.575 billion.
http://finance.yahoo.com/news/breaking-congress-does-something-pushes-184400372.html
BREAKING: Congress Does Something--Pushes $127 Billion in Tax Breaks
In a clear sign that Congress remains light years away from tax reform, the Senate Finance Committee on Thursday approved a bill to renew a grab-bag of tax provisions and loopholes that cost the Treasury billions of dollars annually and help a wide array of special interests, businesses and families.
Related Stories
Renewing tax breaks will have to wait for November, analysts say MarketWatch
Tax-Break Revival Said to Get U.S. Senate Committee Vote Bloomberg
Breaks For Commuters, Horses, Research Said to Get Vote Bloomberg
Lapsed Tax Breaks Get New Life as Panel Votes to Extend Bloomberg
U.S. Congress renews annual temporary tax laws fight Reuters
The tax breaks and credits cover not only corporate research and development, alternative and renewable energy and mass transit, but also major corporate land transactions, movie and TV production, NASCAR track operations and race horse owners.
Related: Senate Democrats Push a Hodge-Podge of Tax Measures
These dozens of tax credits have never been permanent in the federal tax code, but instead have been repeatedly granted temporary extension over the years, which is why they’re known on Capitol Hill as “tax extenders.”
Sen. Ron Wyden (D-OR), the new chairman of the Finance Committee, had signaled recently that he wasn’t going to tolerate business as usual, and was determined to scale back some of these expiring provisions to save the government money. By the time the dust settled yesterday, however, the committee had reauthorized all of the existing tax breaks – and threw in a few new ones for good measure. Members did it by voice vote, so that their names were not directly linked to this massive tax giveaway.
The two year price tag of the package is roughly $127 billion in lost revenue.
“Talk about taking wind out the tax reform sails,” said Steve Ellis of Taxpayers for Common Sense, a government spending watchdog group. “Speaking of which, the wind production tax credit got added back. This is a very inauspicious start to comprehensive tax reform in the new Chairman Wyden era.”
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, added her voice of disappointment to the tax reform backtracking by Wyden and the committee:
"There is a tremendous amount of time, energy and money going into protecting special tax breaks with very little attention to paying for the costs,” she said in a statement. “What this country should be doing is overhauling the disaster of a tax code to make us more competitive, grow the economy and reduce the debt. Instead we are seeing Washington at its very worst as special interests and members of Congress run to protect their favorite tax breaks."
Wyden found himself on the defensive and promised that this would be the last time these provisions were reauthorized without a major rewrite in the tax code.
Related: Dave Camp, Tax Warrior, Makes Last Stand on Reform
“By passing this bill, the Finance Committee has put an expiration date on the status quo,” he said. “The stop and go nature of these tax extenders contributes to the lack of certainty and predictability…. But it makes no sense to let these incentives disappear without a comprehensive reform proposal to replace them when jobs, innovation and research, and people's homes are on the line.”
The next stop for the extenders is the Senate floor, where members will have to go on record next week for or against the multi-billion-dollar tax package. Assuming the bill is approved, it then goes to the House, where Ways and Means Committee Chairman Dave Camp (R-MI) is trying to push through genuine comprehensive tax reform before he retires at the end of the year.
So what’s in the Senate Finance Committee package? Here are many of the two-year provisions, as compiled by Taxpayers for Common Sense:
Related: Obama Looks to Tax Reform to Save America’s Highways
Tax Credits for research and experimentation. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. Estimated cost: $6 billion over two years.
Tax break for reducing mortgage debt on a principal residence. Estimated cost: $3.48 billion over two years.
First-year corporate property depreciation deduction. Estimated cost $81.7 billion.
Real property expenses purchased in the conduct of business. Estimated cost $19.3 billion over two years.
Related: America’s Top Five Tax Breaks
Mortgage insurance premiums deductions on qualified residence. Estimated cost $1.06 billion over two years.
Deduction for state and local sales taxes. Estimated cost $3.38 billion over two years.
Deduction for tuition and related expenses. Estimated cost $359 million over two years.
Tax-free distributions from individual retirement plans for charitable purposes. Estimated cost $881 million over two years.
New markets tax credit for investments in corporations or partnerships. Estimated cost: $7 million over two years.
Railroad track maintenance credit. Estimated cost $279 million over two years.
Three-year cost recovery benefit for certain race horses. Kentucky Derby horses are three-year-olds. Then they make a lot more money in stud fees. Estimated cost $97 million over two years.
Related: Tax Reform Proposal Divides Republicans
A $1 per gallon tax credit for biodiesel, as well as the small agro-biodiesel producer credit of 10 cents per gallon. Estimated cost $2.6 billion over 10 years.
Work opportunity tax credit for employers hiring disadvantaged people. Estimated cost $1.4 billion over two years.
15-year cost recovery for restaurant, and retail building upgrades. Estimated cost $340 million over two years.
Credit for Plug-in Electric Motorcycles. Estimated cost $2 million over ten years.
Rebate on rum excise taxes imposed on Puerto Rico and the Virgin Islands. Estimated cost $310 million over two years.
A 30 percent investment tax credit for alternative vehicle refueling property, which includes fuel pumps for ethanol, biodiesel, liquefied hydrogen, and compressed or liquefied natural gas. Estimated cost $8 million over 10 years.
A production tax credit for cellulosic biofuel production facilities, allowing claims of a $1.01 per gallon production tax credit. Estimated cost $55 million over 10 years.
Here are some of the provisions excluded from the original markup that have been added back in before final passage:
Credit for nonbusiness energy property. Estimated cost $1.005 billion over two years.
Credits for producing energy from certain renewable resources. Estimated cost $191 million.
Seven-year recovery period for motorsports entertainment complexes. Estimated cost $15 million.
Energy efficient commercial buildings deduction. Estimated cost $282 million.
Special expensing rules for certain film, television, and theatrical productions. Estimated cost $424 million.
Modification of work opportunity tax credit. Estimated cost $1.575 billion.
http://finance.yahoo.com/news/breaking-congress-does-something-pushes-184400372.html
BREAKING: Congress Does Something--Pushes $127 Billion in Tax Breaks
In a clear sign that Congress remains light years away from tax reform, the Senate Finance Committee on Thursday approved a bill to renew a grab-bag of tax provisions and loopholes that cost the Treasury billions of dollars annually and help a wide array of special interests, businesses and families.
Related Stories
Renewing tax breaks will have to wait for November, analysts say MarketWatch
Tax-Break Revival Said to Get U.S. Senate Committee Vote Bloomberg
Breaks For Commuters, Horses, Research Said to Get Vote Bloomberg
Lapsed Tax Breaks Get New Life as Panel Votes to Extend Bloomberg
U.S. Congress renews annual temporary tax laws fight Reuters
The tax breaks and credits cover not only corporate research and development, alternative and renewable energy and mass transit, but also major corporate land transactions, movie and TV production, NASCAR track operations and race horse owners.
Related: Senate Democrats Push a Hodge-Podge of Tax Measures
These dozens of tax credits have never been permanent in the federal tax code, but instead have been repeatedly granted temporary extension over the years, which is why they’re known on Capitol Hill as “tax extenders.”
Sen. Ron Wyden (D-OR), the new chairman of the Finance Committee, had signaled recently that he wasn’t going to tolerate business as usual, and was determined to scale back some of these expiring provisions to save the government money. By the time the dust settled yesterday, however, the committee had reauthorized all of the existing tax breaks – and threw in a few new ones for good measure. Members did it by voice vote, so that their names were not directly linked to this massive tax giveaway.
The two year price tag of the package is roughly $127 billion in lost revenue.
“Talk about taking wind out the tax reform sails,” said Steve Ellis of Taxpayers for Common Sense, a government spending watchdog group. “Speaking of which, the wind production tax credit got added back. This is a very inauspicious start to comprehensive tax reform in the new Chairman Wyden era.”
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, added her voice of disappointment to the tax reform backtracking by Wyden and the committee:
"There is a tremendous amount of time, energy and money going into protecting special tax breaks with very little attention to paying for the costs,” she said in a statement. “What this country should be doing is overhauling the disaster of a tax code to make us more competitive, grow the economy and reduce the debt. Instead we are seeing Washington at its very worst as special interests and members of Congress run to protect their favorite tax breaks."
Wyden found himself on the defensive and promised that this would be the last time these provisions were reauthorized without a major rewrite in the tax code.
Related: Dave Camp, Tax Warrior, Makes Last Stand on Reform
“By passing this bill, the Finance Committee has put an expiration date on the status quo,” he said. “The stop and go nature of these tax extenders contributes to the lack of certainty and predictability…. But it makes no sense to let these incentives disappear without a comprehensive reform proposal to replace them when jobs, innovation and research, and people's homes are on the line.”
The next stop for the extenders is the Senate floor, where members will have to go on record next week for or against the multi-billion-dollar tax package. Assuming the bill is approved, it then goes to the House, where Ways and Means Committee Chairman Dave Camp (R-MI) is trying to push through genuine comprehensive tax reform before he retires at the end of the year.
So what’s in the Senate Finance Committee package? Here are many of the two-year provisions, as compiled by Taxpayers for Common Sense:
Related: Obama Looks to Tax Reform to Save America’s Highways
Tax Credits for research and experimentation. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. Estimated cost: $6 billion over two years.
Tax break for reducing mortgage debt on a principal residence. Estimated cost: $3.48 billion over two years.
First-year corporate property depreciation deduction. Estimated cost $81.7 billion.
Real property expenses purchased in the conduct of business. Estimated cost $19.3 billion over two years.
Related: America’s Top Five Tax Breaks
Mortgage insurance premiums deductions on qualified residence. Estimated cost $1.06 billion over two years.
Deduction for state and local sales taxes. Estimated cost $3.38 billion over two years.
Deduction for tuition and related expenses. Estimated cost $359 million over two years.
Tax-free distributions from individual retirement plans for charitable purposes. Estimated cost $881 million over two years.
New markets tax credit for investments in corporations or partnerships. Estimated cost: $7 million over two years.
Railroad track maintenance credit. Estimated cost $279 million over two years.
Three-year cost recovery benefit for certain race horses. Kentucky Derby horses are three-year-olds. Then they make a lot more money in stud fees. Estimated cost $97 million over two years.
Related: Tax Reform Proposal Divides Republicans
A $1 per gallon tax credit for biodiesel, as well as the small agro-biodiesel producer credit of 10 cents per gallon. Estimated cost $2.6 billion over 10 years.
Work opportunity tax credit for employers hiring disadvantaged people. Estimated cost $1.4 billion over two years.
15-year cost recovery for restaurant, and retail building upgrades. Estimated cost $340 million over two years.
Credit for Plug-in Electric Motorcycles. Estimated cost $2 million over ten years.
Rebate on rum excise taxes imposed on Puerto Rico and the Virgin Islands. Estimated cost $310 million over two years.
A 30 percent investment tax credit for alternative vehicle refueling property, which includes fuel pumps for ethanol, biodiesel, liquefied hydrogen, and compressed or liquefied natural gas. Estimated cost $8 million over 10 years.
A production tax credit for cellulosic biofuel production facilities, allowing claims of a $1.01 per gallon production tax credit. Estimated cost $55 million over 10 years.
Here are some of the provisions excluded from the original markup that have been added back in before final passage:
Credit for nonbusiness energy property. Estimated cost $1.005 billion over two years.
Credits for producing energy from certain renewable resources. Estimated cost $191 million.
Seven-year recovery period for motorsports entertainment complexes. Estimated cost $15 million.
Energy efficient commercial buildings deduction. Estimated cost $282 million.
Special expensing rules for certain film, television, and theatrical productions. Estimated cost $424 million.
Modification of work opportunity tax credit. Estimated cost $1.575 billion.
who is mmp???
where is the evidence? where is the PR?
Don't think so even if it was true they are discontinuing service, that wont benefit any shareholder!
http://mashable.com/2013/08/19/microsoft-tag-shuts-down/
HOW so?? where is the PR for that??
Energy Department revives auto loan program despite Fisker flop!
Advanced Technology Vehicles Manufacturing Loan Program and is reaching out to manufacturers of auto parts and components to apply for more than $16 billion in available funding !!!!!!!!
http://www.foxnews.com/politics/2014/04/04/energy-department-revives-auto-loan-program-despite-fisker-flop/?intcmp=trending#
The Obama administration announced this week it is reopening a loan program for advanced fuel-efficient vehicles that was derided by Republican lawmakers last year after two of the first five loan beneficiaries halted operations.
The Department of Energy said Wednesday it is reviving the Advanced Technology Vehicles Manufacturing Loan Program and is reaching out to manufacturers of auto parts and components to apply for more than $16 billion in available funding, The Wall Street Journal reported.
Energy Secretary Ernest Moniz said the program, which has has provided $8.4 billion in funding since 2009, will have a revised application process to speed up reviews and address concerns from auto makers about the process being too complex.
"Today we are presented with an opportunity to hit the accelerator on U.S. auto manufacturing growth," Moniz said at a conference in Washington. "Motor vehicle parts manufacturers play a significant role in the development and deployment of new technologies to meet the demand for fuel-efficient vehicles."
The program came under scrutiny after the department lost $139 million on a loan to electric car maker Fisker Automotive Inc., which filed for bankruptcy in 2013. Fisker received $192 million from the program before funding was pulled.
In September 2013, the Energy Department lost about $42 million on a loan to a shuttered Michigan company that made vans for the disabled. Vehicle Production Group, or VPG, suspended operations the same year after receiving $50 million in financing.
The loan program did have success with electric car maker Tesla Motors Inc., which repaid its $452 million loan in 2013, according to the report.
House Oversight and Government Reform Chairman Darrell Issa, R-Calif., who said at hearing last year that the program never should have considered Fisker, told the Wall Street Journal he questioned administration's plan to revamp the program.
"Despite the Energy Department's appalling track record of loan programs, which put taxpayer money on the line to fund junk-bond-rated companies, this administration will do anything to shove their ideology-driven policy forward.," Issa said in a statement.
The Reublican-led House is expected to vote on a budget proposal from House Budget Committee Chairman Paul Ryan, R-Wis., that would essentially dissolve the auto loan program, the Washington Examiner reported.
At a Thursday hearing on the Energy Department's 2015 budget, Energy and Commerce Committee Chairman Fred Upton, R-Mich., and Rep. Ed Whitfield, R-Ky., voiced concerns about the reopening the program.
"I remain highly skeptical of the federal government playing venture capitalist," Upton was quoted as saying. "The revival of the loan guarantee program that backed Solyndra ... is of serious concern."
Right! and SEC wont show no remorse to Pink sheet CEO scammer!
http://news.yahoo.com/poll-nationwide-marijuana-legalization-inevitable-175207564.html
\DENVER (AP) -- Nationwide marijuana legalization seems inevitable to three-fourths of Americans, whether they support it or not, according to a new poll out Wednesday.
The Pew Research Center survey on the nation's shifting attitudes about drug policy also showed increased support for moving away from mandatory sentences for non-violent drug offenders.
The telephone survey found that 75 percent of respondents — including majorities of both supporters and opponents of legal marijuana— think that the sale and use of pot eventually will be legal nationwide. It was the first time that question had been asked.
Some 39 percent of respondents said pot should be legal for personal adult use. Forty-four percent of those surveyed said it should be legal only for medicinal use. Just 16 percent said it should not be legal at all.
The responses come as two states have legalized recreational marijuana, with more than 20 states and Washington, D.C., allowing some medical use of the drug.
"It's just a matter of time before it's in more states," said Steve Pratley of Denver, a 51-year-old pipefitter who voted for legalization in Colorado in 2012.
Pratley, who did not participate in the Pew survey, agreed with 76 percent of respondents who said people who use small amounts of marijuana shouldn't go to jail.
"If marijuana isn't legalized, it fills up the jails, and that's just stupid," Pratley said.
Legalization opponents, however, drew a distinction between making pot legal for all and thinking that pot users belong in jail.
"It's an illegal drug, period. I don't see it spreading," said Laura Sanchez, a 55-year-old retiree in Denver who voted against legalization. She agreed that pot smokers don't belong in jail, but she disagreed with legalization.
"I've seen no proof that it's good for anybody," said Sanchez, who also did not participate in the survey.
The poll suggested that despite shifting attitudes on legalization, the public remains concerned about drug abuse, with 32 percent of those surveyed calling it a crisis and 55 percent of respondents viewing it as a serious national problem.
And a narrow majority, 54 percent, said marijuana legalization would lead to more underage people trying it.
As for mandatory minimum sentences, public attitudes have been shifting for years.
In 2001, the survey was about evenly divided on whether it was a good thing or bad thing for states to move away from mandatory minimum sentences for non-violent drug offenders. In 2014, poll respondents favored the move by a nearly 2-to-1 margin, or 63 percent to 32 percent. The other 5 percent either didn't respond or said they didn't know.
Public officials are well aware of the public's shifting attitudes on drug penalties.
Just last month, U.S. Attorney General Eric Holder testified in support of proposed sentence reductions for some non-violent drug traffickers in an effort to reserve the "the harshest penalties for the most serious drug offenders."
"Certain types of cases result in too many Americans going to prison for too long, and at times for no truly good public safety reason," Holder said last month at the U.S. Sentencing Commission.
Drug legalization activists said the Pew results come as no surprise.
"We see a growing bipartisan recognition that mandatory minimums went too far and did more harm than good," said Ethan Nadelmann, head of the New York-based Drug Policy Alliance, which opposes criminal penalties for non-violent drug users.
Marijuana legalization opponents saw signs of hope in the survey, too.
Kevin Sabet, co-founder of Smart Approaches to Marijuana, which opposes pot legalization, pointed to the fact that 63 percent said it would bother them if people used marijuana openly in their neighborhood.
"Saying that we don't want people to serve prison time for marijuana is very different from saying I want a pot shop in my neighborhood selling cookies and candies and putting coupons in the paper," Sabet said.
The poll of 1,821 adults was conducted Feb. 14-23. The survey had a margin of error of plus or minus 2.6 percentage points.
SEC Creates Task Forces to Detect Accounting and Microcap Fraud
By Joshua Gallu Jul 2, 2013 2:31 PM ET 0 Comments Email Print
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The U.S. Securities and Exchange Commission has formed two enforcement task forces aimed at rooting out improper accounting and fraud at small companies, the agency said.
The SEC’s enforcement division also created a Center for Risk and Quantitative Analytics to identify risks and threats that could harm investors, the agency said in a statement today.
“By directing resources, skill and experience to high-impact areas, we will increase the potential for uncovering financial-statement and microcap fraud early and bring more cases aimed at deterring these types of unlawful activity,” co-director of enforcement Andrew Ceresney said in the statement.
The financial reporting task force will concentrate on publicly filed statements, issuer reporting and audit failures, the SEC said. The group will also focus on a review of financial restatements and revisions. The group will be led by David Woodcock, head of the SEC’s regional office in Fort Worth, Texas, and will work in consultation with the enforcement division’s chief accountant, according to the statement.
In fiscal 2012, the SEC brought the fewest number of accounting-fraud cases since at least 2003.
To contact the reporter on this story: Joshua Gallu in Washington at jgallu@bloomberg.net
To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net
http://www.bloomberg.com/news/2013-07-02/sec-creates-task-forces-to-detect-accounting-and-microcap-fraud.html
SHOW the evidence of PR for that news????
Right and Vlado better file those papers for business license renewal!!! micro cap fraud not tolerated by SEC!!!
SEC Creates Task Forces to Detect Accounting and Microcap Fraud
By Joshua Gallu Jul 2, 2013 2:31 PM ET 0 Comments Email Print
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The U.S. Securities and Exchange Commission has formed two enforcement task forces aimed at rooting out improper accounting and fraud at small companies, the agency said.
The SEC’s enforcement division also created a Center for Risk and Quantitative Analytics to identify risks and threats that could harm investors, the agency said in a statement today.
“By directing resources, skill and experience to high-impact areas, we will increase the potential for uncovering financial-statement and microcap fraud early and bring more cases aimed at deterring these types of unlawful activity,” co-director of enforcement Andrew Ceresney said in the statement.
The financial reporting task force will concentrate on publicly filed statements, issuer reporting and audit failures, the SEC said. The group will also focus on a review of financial restatements and revisions. The group will be led by David Woodcock, head of the SEC’s regional office in Fort Worth, Texas, and will work in consultation with the enforcement division’s chief accountant, according to the statement.
In fiscal 2012, the SEC brought the fewest number of accounting-fraud cases since at least 2003.
To contact the reporter on this story: Joshua Gallu in Washington at jgallu@bloomberg.net
To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net
http://www.bloomberg.com/news/2013-07-02/sec-creates-task-forces-to-detect-accounting-and-microcap-fraud.html
Does Tesla Really Need a $5 Billion Battery?
http://finance.yahoo.com/news/does-tesla-really-5-billion-232300968.html
The Wall Street Journal
By Mike Ramsey
14 hours ago
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In a project that is befuddling industry experts and competitors, Tesla Motors Inc. is looking for possible sites for a giant electric-car battery factory in four Southwestern states.
Related Stories
Panasonic hesitant to commit to Musk's Tesla battery factory San Jose Mercury News
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Is Tesla’s Gigafactory Really Just Too Ambitious? 24/7 Wall St.
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Why Elon Musk Thought Tesla Would Fail TheStreet.com
The plant, dubbed a "gigafactory" by Tesla Chief Executive Elon Musk, would be the world's largest factory by a long shot. Mr. Musk has outlined a proposal to spend $5 billion on it, hiring up to 6,500 workers and creating thousands of ancillary jobs. He compares the undertaking to auto-industry pioneer Henry Ford's early 20th century Rouge complex. It took in iron ore and other raw materials at one end and rolled out completed Model Ts at the other, aiming to control and cut costs at every stage of production.
Mr. Musk wants to begin making batteries at the plant in 2017, a timeline that puts pressure on the company to break ground this year. Tesla executives say they need the Gigafactory to guarantee the supply of millions of battery cells and to cut costs through scale and logistics savings.
"We need to move rapidly," adds Diarmuid O'Connell, vice president of business development for Tesla.
Mr. Musk's plan has generated excitement among officials in states eager to land the project but skepticism among battery-industry executives and rival auto executives.
"I don't quite get it," Volkswagen AG Chief Executive Martin Winterkorn said last month. "We have enough suppliers and wouldn't get the notion to build a battery factory."
Sales of electric vehicles remain small—less than 1% of the total U.S. market. The U.S. government spent more than $1 billion on new electric-vehicle battery plants as part of the Obama administration's economic stimulus, but many of those plants now run at just 15% to 20% of capacity.
"My first reaction was that Elon Musk is Superman—he can do anything," said Henry Sun, chief financial officer of the Chinese battery maker Highpower International Inc. "But my second reaction was, I'm kind of worried about it."
Jason Henry for The Wall Street Journal Tesla's factory could make more cars if it had access to more batteries.
Meanwhile, officials in Arizona, Nevada, New Mexico and Texas are trying to lure the Silicon Valley-based maker of electric cars to their state. Mr. O'Connell and other Tesla officials are in the final stages of vetting sites in those states.
In Texas, Gov. Rick Perry is said to be leading negotiations directly. He told Fox Business last week that he could support overhauling state laws that block Tesla from operating company-owned retail car stores so the Gigafactory and its jobs don't go elsewhere. "The cachet of being able to say we put that manufacturing facility in [our] state is hard to pass up," he said.
In Arizona, legislators are pushing through bills to allow Tesla to sell cars without franchised dealerships. New Mexico may call a special legislative session to create incentives for the factory. And Nevada, which is rich in natural resources like lithium and the closest to Tesla's car factory in the Oakland suburb of Fremont, Calif., has already had Tesla officials visit Reno to look at sites.
Tesla aims to reduce the cost of its battery pack by 30% when the battery plant opens in 2017. It won't disclose the current cost, but analysts say the 85 kilowatt-hour pack on the Tesla Model S, a car whose price starts at $80,000, probably costs between $21,250 and $25,500.
Reducing battery costs is critical for Tesla's forthcoming mass-market car, which is referred to as the Gen III and is expected to have a starting price of around $35,000.
Tesla's growth in 2013 was held back by a lack of batteries. Supplier Panasonic Corp. is hoping to remedy that with a supply of two billion cells. But those may not be enough once Tesla introduces its higher-volume Gen III vehicle.
Tesla, with sales of just over 22,400 cars last year, is already the largest buyer of lithium-ion battery cells in the world. With plans to sell 500,000 vehicles, its own demand would be greater than the demand for every laptop, mobile phone and tablet sold in the world.
Mr. Musk is leading direct negotiations with Yoshihiko Yamada, who heads Panasonic's automotive and industrial systems subsidiary, to invest in the new Gigafactory and run battery-cell production.
Panasonic CEO Kazuhiro Tsuga sounded a cautious note late last month.
"There's no doubt that [the new plant] will entail a far bigger risk than the current investment we're making. I cannot disclose our investment stance at this point," Mr. Tsuga said.
Harald Kroeger, who runs Daimler AG's electric-vehicle programs and sits on Tesla's board, said the factory "has some advantages of course, but it has some huge disadvantages as well."
Sam Jaffe, a battery consultant with Navigant Research, says the companies he consults for don't understand why Tesla would build such a large factory. Tesla may want to make 35 gigawatt hours of cells a year, they say, but battery makers maintain the benefits of scale disappear at about one gigawatt hour of capacity.
Wall Street is betting on Tesla. The Palo Alto, Calif., company raised a formidable $2 billion through a convertible-bond offering last month. Not long ago, getting the capital to pull off a project like this would have been the biggest challenge, but Tesla's market capitalization of nearly $31 billion has given it considerable leverage to raise more money.
The risks of going ahead with the Gigafactory project start with the tight construction timetable. "There are very few factories of 10 million square feet built all at once," says Randy Abdallah, executive vice president of Walbridge Aldinger, one the world's leading factory-construction firms. But he believes Mr. Musk's plan is doable. "There are solutions if you are willing to pay the cost," he says.
Mr. Musk's vision for lowering costs at the plant includes tying up sources for the primary metals and materials that go into batteries, such as cobalt.
Erin Chutters, the chief executive of Global Cobalt Corp., a mining company with plans to open a mine in Russia, says the "Gigafactory" demand, even if it reaches only a third of the anticipated size, would either lead to a sharp rise in cobalt prices or force several new mines to be opened.
"The only question I have is whether they will actually be able to sell that many cars," she says. "Are there really enough people out there that will switch over?"
TOP 100 hedge funds if CEO wants real capital, real money BILLIONS!!!!
http://www.bloomberg.com/news/2013-01-03/the-100-top-performing-large-hedge-funds.html
1.
Fund: Metacapital Mortgage Opportunities
Manager: Deepak Narula
Management Firm: Metacapital Management
Location: U.S.
Strategy: Mortgage-backed arbitrage
Assets, in billions: $1.5
YTD total return: 37.8%
2011 return: 23.6%
2.
Fund: Pine River Fixed Income
Manager: Steve Kuhn
Management Firm: Pine River Capital Management
Location: U.S.
Strategy: Mortgage-backed arbitrage
Assets, in billions: $3.6
YTD total return: 32.9%
2011 return: 4.8%
3.
Fund: CQS Directional Opportunities
Manager: Michael Hintze
Management Firm: CQS
Location: U.K.
Strategy: Multistrategy
Assets, in billions: $1.5
YTD total return: 28.9%
2011 return: -10.4%
4.
Fund: Pine River Liquid Mortgage
Manager: Steve Kuhn
Management Firm: Jiayi Chen Pine River Capital Management
Location: U.S.
Strategy: Mortgage-backed arbitrage
Assets, in billions: $1.1
YTD total return: 28.0%
2011 return: 7.2%
5.
Fund: Omega Overseas Partners A
Manager: Leon Cooperman
Management Firm: Omega Advisors
Location: U.S.
Strategy: Long/short
Assets, in billions: $1.4
YTD total return: 24.4%
2011 return: -1.4%
6.
Fund: Odey European
Manager: Crispin Odey
Management Firm: Odey Asset Management
Location: U.K.
Strategy: Macro
Assets, in billions: $1.8
YTD total return: 24.1%
2011 return: -20.3%
7.
Fund: Marathon Securitized Credit
Managers: Bruce Richards, Louis Hanover
Management Firm: Marathon Asset Management
Location: U.S.
Strategy: Asset backed
Assets, in billions: $1.2
YTD total return: 24.0%
2011 return: -4.2%
*
Fund: Palomino
Manager: David Tepper
Management Firm: Appaloosa Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $4.9
YTD total return: 24.0%
2011 return: -3.5%
9.
Fund: BTG Pactual GEMM
Managers: Team managed
Management Firm: BTG Pactual Global Asset Management
Location: U.S.Strategy: Macro
Assets, in billions: $3.6
YTD total return: 23.1%
2011 return: 3.4%
10.
Fund: Third Point Ultra
Manager: Daniel Loeb
Management Firm: Third Point
Location: U.S.Strategy: Multistrategy
Assets, in billions: $1.3
YTD total return: 22.1%
2011 return: -2.3%
11.
Fund: Seer Capital Partners
Manager: Philip Weingord
Firm: Seer Capital Management
Location: U.S.
Strategy: Asset backed
Assets, in billions: $1.2
YTD total return: 21.6%
2011 return: 2.1%
12.
Fund: Tiger Global
Managers: Feroz Dewan, Chase Coleman
Management Firm: Tiger Global Management
Location: U.S.
Strategy: Long/short
Assets, in billions: $6.0
YTD total return: 21.0%
2011 return: 45.0%
13.
Fund: Eminence
Manager: Ricky Sandler
Management Firm: Eminence Capital
Location: U.S.
Strategy: Long/short
Assets, in billions: $3.0
YTD total return: 20.9%
2011 return: 1.6%
14.
Fund: Jana Master
Managers: Barry Rosenstein, David DiDomenico
Management Firm: Jana Partners
Location: U.S.
Strategy: Event driven
Assets, in billions: $3.8
YTD total return: 20.4%
2011 return: -2.1%
15.
Fund: Structured Servicing Holdings
Manager: William Mok
Management Firm: Structured Portfolio Management
Location: U.S.
Strategy: Mortgage-backed arbitrage
Assets, in billions: $1.9
YTD total return: 20.3%
2011 return: 19.6%
16.
Fund: Citadel Tactical Trading
Managers: Team managed
Management Firm: Citadel Advisors
Location: U.S.
Strategy: Long/short
Assets, in billions: $1.0
YTD total return: 20.0%
2011 return: 38.0%
17.
Fund: Viking Long
Manager: Andreas Halvorsen
Management Firm: Viking Global Investors
Location: U.S.
Strategy: Long biased
Assets, in billions: $1.7
YTD total return: 19.4%
2011 return: -0.1%
18.
Fund: Cerberus RMBS Opportunities
Manager: Steve Feinberg
Management Firm: Cerberus Capital Management
Location: U.S.
Strategy: Distressed
Assets, in billions: $1.7
YTD total return: 19.0%
2011 return: N/A, fund was launched in 2011
19.
Fund: LibreMax Partners
Manager: Greg Lippmann
Management Firm: LibreMax Capital
Location: U.S.
Strategy: Structured credit
Assets, in billions: $2.3
YTD total return: 18.5%
2011 return: 2.0%
*
Fund: Pine River
Manager: Aaron Yeary
Management Firm: Pine River Capital Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $1.6
YTD total return: 18.5%
2011 return: 5.7%
21.
Fund: Litespeed Master
Manager: Jamie Zimmerman
Management Firm: Litespeed Management
Location: U.S.
Strategy: Distressed
Assets, in billions: $1.7
YTD total return: 18.1%
2011 return: 4.4%
22.
Fund: AHL Evolution
Manager: Timothy Wong
Management Firm: Man Investments
Location: U.K.
Strategy: Managed futures
Assets, in billions: $1.9
YTD total return: 18.0%
2011 return: 10.5%
*
Fund: Citadel Kensington/Wellington
Managers: Team managed
Management Firm: Citadel Advisors
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $7.0
YTD total return: 18.0%
2011 return: 20.0%
24.
Fund: Canyon Balanced
Managers: Joshua Friedman, Mitchell Julis
Management Firm: Canyon Capital Advisors
Location: U.S.
Strategy: Distressed
Assets, in billions: $1.9
YTD total return: 17.7%
2011 return: -4.5%
25.
Fund: Contrarian Capital One
Managers: Jon Bauer, Janice Stanton
Management Firm: Contrarian Capital Management
Location: U.S.
Strategy: Distressed
Assets, in billions: $2.1
YTD total return: 17.6%
2011 return: -1.3%
26.
Fund: DoubleLine Opportunistic Income
Managers: Jeffrey Gundlach, Philip Barach
Management Firm: DoubleLine Capital
Location: U.S.
Strategy: Fixed income
Assets, in billions: $2.3
YTD total return: 17.4%
2011 return: 20.7%
*
Fund: Redwood Offshore
Manager: Jonathan Kolatch
Management Firm: Redwood Capital Management
Location: U.S.
Strategy: Distressed
Assets, in billions: $2.6
YTD total return: 17.4%
2011 return: -2.0%
28.
Fund: One William Street Capital Partners
Manager: David Sherr
Management Firm: One William Street Capital Management
Location: U.S.
Strategy: Asset backed
Assets, in billions: $2.2
YTD total return: 17.1%
2011 return: -4.3%
29.
Fund: Cevian Capital II
Managers: Lars Forberg, Christer Gardell
Management Firm: Cevian Capital
Location: Sweden
Strategy: Activist
Assets, in billions: $6.9
YTD total return: 16.8%
2011 return: -9.9%
*
Fund: Heliant
Manager: David E. Shaw
Management Firm: D.E. Shaw & Co.
Location: U.S.
Strategy: Macro
Assets, in billions: $1.7
YTD total return: 16.8%
2011 return: 9.2%
31.
Fund: Autonomy Global Macro
Manager: Robert Gibbins
Management Firm: Autonomy Capital
Location: U.S.
Strategy: Macro
Assets, in billions: $2.9
YTD total return: 16.0%
2011 return: 13.6%
*
Fund: Maverick
Manager: Lee Ainslie
Management Firm: Maverick Capital Management
Location: U.S.
Strategy: Long/short
Assets, in billions: $10.0
YTD total return: 16.0%
2011 return: -15.8%
33.
Fund: SPM Core
Manager: William Mok
Management Firm: Structured Portfolio Management
Location: U.S.
Strategy: Mortgage-backed arbitrage
Assets, in billions: $1.7
YTD total return: 15.7%
2011 return: 23.7%
34.
Fund: Canyon Value Realization
Manager: Joshua Friedman, Mitchell Julis
Management Firm: Canyon Capital Advisors
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $8.0
YTD total return: 15.6%
2011 return: -4.7%
35.
Fund: MKP Credit
Managers: Patrick McMahon, Anthony Lembke
Management Firm: MKP Capital Management
Location: U.S.
Strategy: Credit
Assets, in billions: $2.0
YTD total return: 15.4%
2011 return: -5.1%
36.
Fund: GoldenTree Credit Opportunities
Manager: Steven Tananbaum
Management Firm: GoldenTree Asset Management
Location: U.S.
Strategy: Credit
Assets, in billions: $1.5
YTD total return: 15.3%
2011 return: 0.7%
37.
Fund: Drawbridge Special Opportunities
Manager: Peter Briger Jr., Constantine Dakolias
Management Firm: Fortress Investment Group
Location: U.S.
Strategy: Credit
Assets, in billions: $4.9
YTD total return: 15.1%
2011 return: 10.9%
38.
Fund: Silver Point Capital
Manager: Edward Mule
Management Firm: Silver Point Capital
Location: U.S.
Strategy: Distressed
Assets, in billions: $6.8
YTD total return: 15.0%
2011 return: 6.1%
*
Fund: York Credit Opportunities
Managers: William Vrattos, James Dinan, Daniel Schwartz
Management Firm: York Capital Management
Location: U.S.
Strategy: Distressed
Assets, in billions: $4.2
YTD total return: 15.0%
2011 return: -1.4%
40.
Fund: Russian Prosperity
Managers: Ivan Mazalov, Alexander Branis
Management Firm: Prosperity Capital Management
Location: Russia
Strategy: Emerging-markets equity
Assets, in billions: $1.3
YTD total return: 14.9%
2011 return: -18.0%
41.
Fund: CQS ABS
Manager: Simon Finch (formerly Alistair Lumsden)
Management Firm: CQS
Location: U.K.
Strategy: Asset backed
Assets, in billions: $2.3
YTD total return: 14.3%
2011 return: 0.7%
42.
Fund: Third Point Offshore
Manager: Daniel Loeb
Management Firm: Third Point
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $4.9
YTD total return: 14.1%
2011 return: -0.1%
43.
Fund: All Weather 12%
Manager: Ray Dalio
Management Firm: Bridgewater Associates
Location: U.S.
Strategy: Macro
Assets, in billions: $6.6
YTD total return: 14.0%
2011 return: 19.5%
*
Fund: Citadel Global Equities
Managers: Team managed
Management Firm: Citadel Advisors
Location: U.S.
Strategy: Long/short
Assets, in billions: $2.0
YTD total return: 14.0%
2011 return: 21.0%
*
Fund: Marathon Special Opportunity
Managers: Bruce Richards, Louis Hanover
Management Firm: Marathon Asset Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $1.0
YTD total return: 14.0%
2011 return: -4.8%
46.
Fund: OxAM Quant Fund
Managers: Andre Stern, Steve Mobbs, Steven Kurlander
Management Firm: OxFORD Asset Management
Location: U.K.
Strategy: Quantitative
Assets, in billions: $3.8
YTD total return: 13.7%
2011 return: 23.5%
*
Fund: Spinnaker Global Emerging Markets
Manager: Bradley Wickens
Management Firm: Spinnaker Capital
Location: U.K.
Strategy: Emerging-markets debt
Assets, in billions: $1.4
YTD total return: 13.7%
2011 return: -9.3%
48.
Fund: Halcyon Asset-Backed Value
Managers: Joseph Wolnick, Joseph Godley, James Coppola
Management Firm: Halcyon Asset-Backed Advisors
Location: U.S.
Strategy: Asset backed
Assets, in billions: $2.5
YTD total return: 13.4%
2011 return: 4.1%
*
Fund: Oculus
Manager: David E.Shaw
Management Firm: D.E. Shaw & Co.
Location: U.S.
Strategy: Macro
Assets, in billions: $9.5
YTD total return: 13.4%
2011 return: 18.0%
*
Fund: Perry Partners
Manager: Richard Perry
Management Firm: Perry Capital
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $4.8
YTD total return: 13.4%
2011 return: -7.1%
51.
Fund: BlueMountain Credit Alternatives
Manager: Andrew Feldstein
Management Firm: BlueMountain Capital Management
Location: U.S.Strategy: Credit
Assets, in billions: $5.1
YTD total return: 13.3%
2011 return: 3.6%
52.
Fund: Ares Enhanced Credit Opportunities
Manager: Seth Brufsky, Americo Cascella
Management Firm: Ares Management
Location: U.S.
Strategy: Fixed income
Assets, in billions: $2.4
YTD total return: 13.2%
2011 return: 8.0%
*
Fund: Cerberus Institutional Partners Series IV
Manager: Steve Feinberg
Management Firm: Cerberus Capital Management
Location: U.S.
Strategy: Distressed
Assets, in billions: $7.6
YTD total return: 13.2%
2011 return: 1.3%
54.
Fund: Green HG
Manager: Luis Stuhlberger
Management Firm: Credit Suisse Hedging-Griffo
Location: Brazil
Strategy: Macro
Assets, in billions: $1.4
YTD total return: 13.1%
2011 return: -5.7%
55.
Fund: Vertex
Managers: John Thiessen, Tim Logie
Management Firm: Vertex One Asset Management
Location: Canada
Strategy: Distressed
Assets, in billions: $1.0
YTD total return: 13.0%
2011 return: -11.7%
56.
Fund: Blue Harbour Strategic Value Partners
Manager: Clifton Robbins
Management Firm: Blue Harbour Group
Location: U.S.
Strategy: Activist
Assets, in billions: $1.1
YTD total return: 12.9%
2011 return: 3.3%
57.
Fund: Viking Global Equities
Manager: Andreas Halvorsen
Management Firm: Viking Global Investors
Location: U.S.
Strategy: Long/short
Assets, in billions: $16.3
YTD total return: 12.7%
2011 return: 7.6%
58.
Fund: Brevan Howard Credit Catalysts
Manager: David Warren
Management Firm: DW Investment Management
Location: U.S.
Strategy: Credit
Assets, in billions: $3.0
YTD total return: 12.6%
2011 return: 1.2%
59.
Fund: Fortress Macro
Managers: Adam Levinson, Michael Novogratz
Management Firm: Fortress Investment Group
Location: U.S.
Strategy: Macro
Assets, in billions: $1.5
YTD total return: 12.5%
2011 return: -9.5%
60.
Fund: BlackRock Fixed Income Global Alpha
Manager: Tim Webb
Management Firm: BlackRock Alternative Investors
Location: U.S.Strategy: Fixed income
Assets, in billions: $3.5
YTD total return: 12.3%
2011 return: 20.2%
61.
Fund: Beach Point Total Return
Managers: Carl Goldsmith, Scott Klein
Management Firm: Beach Point Capital Management
Location: U.S.
Strategy: Distressed
Assets, in billions: $1.4
YTD total return: 12.1%
2011 return: -1.0%
*
Fund: QVT Overseas-B
Manager: Daniel Gold
Management Firm: QVT Financial
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $2.4
YTD total return: 12.1%
2011 return: 5.5%
63.
Fund: Pelham Long/Short
Managers: Ross Turner, Hadyn Cunningham
Management Firm: U.K.
Location: Pelham Capital Management
Strategy: Long/short
Assets, in billions: $2.0
YTD total return: 11.9%
2011 return: -10.4%
64.
Fund: Brummer & Partners Zenit
Managers: Per Josefsson, Svante Elfving
Management Firm: Zenit Asset Management
Location: Sweden
Strategy: Long/short
Assets, in billions: $1.5
YTD total return: 11.8%
2011 return: -4.0%
65.
Fund: Egerton European Dollar
Manager: John Armitage
Management Firm: Egerton Capital
Location: U.K.
Strategy: Long/short
Assets, in billions: $1.5
YTD total return: 11.4%
2011 return: -5.0%
*
Fund: Greenlight Capital
Manager: David Einhorn
Management Firm: Greenlight Capital
Location: U.S.
Strategy: Long/short
Assets, in billions: $7.8
YTD total return: 11.4%
2011 return: 2.9%
67.
Fund: Rimrock High Income Plus
Manager: Dave Edington
Management Firm: Rimrock Capital Management
Location: U.S.
Strategy: Fixed-income arbitrage
Assets, in billions: $1.2
YTD total return: 11.2%
2011 return: 7.5%
68.
Fund: AG Super
Managers: Michael Gordon, David Kamin
Management Firm: Angelo Gordon & Co.
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $3.1
YTD total return: 11.0%
2011 return: -0.8%
*
Fund: GSO Special Situations Overseas
Managers: Louis Salvatore, Michael Whitman
Management Firm: GSO Capital Partners
Location: U.S.
Strategy: Distressed
Assets, in billions: $1.8
YTD total return: 11.0%
2011 return: 8.0%
*
Fund: Pimco Absolute Return IV
Manager: Bill Gross
Management Firm: Pimco
Location: U.S.
Strategy: Long/short
Assets, in billions: $2.7
YTD total return: 11.0%
2011 return: 1.8%
*
Fund: Providence MBS
Manager: Russell Jeffrey
Management Firm: Providence Investment Management
Location: U.S.
Strategy: Mortgage-backed arbitrage
Assets, in billions: $1.8
YTD total return: 11.0%
2011 return: 25.1%
72.
Fund: New Mountain Vantage
Managers: Daniel Riley, David Frost
Management Firm: New Mountain Capital
Location: U.S.Strategy: Long/short
Assets, in billions: $1.6
YTD total return: 10.8%
2011 return: 12.0%
73.
Fund: York Total Return
Managers: Jeffrey Weber, Marc Helwani
Management Firm: York Capital Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $1.5
YTD total return: 10.7%
2011 return: -7.2%
74.
Fund: Elliott Associates
Manager: Paul Singer
Management Firm: Elliott Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $7.5
YTD total return: 10.6%
2011 return: 4.0%
*
Fund: Hudson Bay
Manager: Sander Gerber
Management Firm: Hudson Bay Capital Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $1.5
YTD total return: 10.6%
2011 return: 4.3%
76.
Fund: GoldenTree Master
Manager: Steven Tananbaum
Management Firm: GoldenTree Asset Management
Location: U.S.
Strategy: Credit
Assets, in billions: $2.9
YTD total return: 10.5%
2011 return: -0.3%
*
Fund: Hayman Capital Master
Manager: Kyle Bass
Management Firm: Hayman Capital Management
Location: U.S.
Strategy: Event driven
Assets, in billions: $1.0
YTD total return: 10.5% (Return is for the nine months ended on Sept. 30.)
2011 return: 1.8%
*
Fund: King Street
Managers: Francis Biondi, Brian Higgins
Management Firm: King Street Capital
Location: U.S.
Strategy: Event driven
Assets, in billions: $10.4
YTD total return: 10.5%
2011 return: -1.6%
*
Fund: Paulson Enhanced
Manager: John Paulson
Management Firm: Paulson Partners
Location: U.S.
Strategy: Merger arbitrage
Assets, in billions: $2.0
YTD total return: 10.5%
2011 return: -21.6
80.
Fund: Loomis Sayles Credit Long/Short
Managers: Team managed
Management Firm: Loomis Sayles & Co.
Location: U.S.
Strategy: Credit
Assets, in billions: $1.1
YTD total return: 10.4%
2011 return: -0.8%
81.
Fund: Columbus Hill
Manager: Kevin Eng
Management Firm: Columbus Hill Capital Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $1.2
YTD total return: 10.3%
2011 return: -4.5%
*
Fund: Strategic Value Restructuring
Manager: Victor Khosla
Management Firm: Strategic Value Partners
Location: U.S.Strategy: Distressed
Assets, in billions: $1.4
YTD total return: 10.3%
2011 return: -11.3%
83.
Fund: Discovery Global Opportunity
Manager: Robert Citrone
Management Firm: Discovery Capital Management
Location: U.S.
Strategy: Macro
Assets, in billions: $6.3
YTD total return: 10.2%
2011 return: 3.6%
84.
Fund: Halcyon Partners Offshore
Managers: John Bader, Kevah Konner
Management Firm: Halcyon Asset Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $1.5
YTD total return: 10.1%
2011 return: -5.9%
*
Fund: Lansdowne Developed Markets
Managers: Peter Davies, Stuart Roden
Management Firm: Lansdowne Partners
Location: U.K.
Strategy: Long/short
Assets, in billions: $6.9
YTD total return: 10.1%
2011 return: -20.4%
86.
Fund: Avenue International
Managers: Shawn Foley, Rob Symington
Management Firm: Avenue Capital Group
Location: U.S.Strategy: Distressed
Assets, in billions: $2.0
YTD total return: 10.0%
2011 return: -12.9%
*
Fund: Highside Capital Partners
Manager: Lee Hobson
Management Firm: Highside Capital Management
Location: U.S.
Strategy: Long/short
Assets, in billions: $1.0
YTD total return: 10.0%
2011 return: -1.3%
*
Fund: SAC Capital International
Manager: Steve Cohen
Management Firm: SAC Capital Advisors
Location: U.S.
Strategy: Long/short
Assets, in billions: $9.0
YTD total return: 10.0%
2011 return: 8.0%
*
Fund: Senator Global Opportunity
Managers: Alex Klabin, Douglas Silverman
Management Firm: Senator Investment Group
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $3.7
YTD total return: 10.0%
2011 return: -0.7%
*
Fund: Visium Balanced
Manager: Jacob Gottlieb
Management Firm: Visium Asset Management
Location: U.S.
Strategy: Long/short
Assets, in billions: $2.6
YTD total return: 10.0%
2011 return: 2.1%
91.
Fund: Aristeia Partners
Managers: Anthony Frascella, William Techar
Management Firm: Aristeia Capital
Location: U.S.
Strategy: Credit
Assets, in billions: $1.5
YTD total return: 9.8%
2011 return: 2.4%
92.
Fund: Spinnaker Global Opportunity
Managers: Jorge Benjamin Rosas, Marcos Lederman
Management Firm: Spinnaker Capital
Location: U.K.
Strategy: Emerging-markets debt
Assets, in billions: $1.4
YTD total return: 9.6%
2011 return: -11.8%
93.
Fund: OZ Master
Manager: Daniel Och
Management Firm: Och-Ziff Capital Management Group
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $21.4
YTD total return: 9.5%
2011 return: -0.6%
94.
Fund: Double Black Diamond
Manager: Clint Carlson
Management Firm: Carlson Capital
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $4.4
YTD total return: 9.4%
2011 return: -0.8%
*
Fund: Monarch Debt Recovery
Manager(s): M.Weinstock, A. Herenstein, C. Santana
Management Firm: Monarch Alternative Capital
Location: U.S.
Strategy: Distressed
Assets, in billions: $1.3
YTD total return: 9.4%
2011 return: -0.5%
96.
Fund: Elliott International
Manager: Paul Singer
Management Firm: Elliott Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $13.4
YTD total return: 9.3%
2011 return: 3.8%
*
Fund: Passport Global Strategy
Manager: John Burbank II
Management Firm: Passport Capital
Location: U.S.Strategy: Long/short
Assets, in billions: $1.3
YTD total return: 9.3%
2011 return: -18.7%
98.
Fund: M. Kingdon Offshore
Manager: Team managed
Management Firm: Kingdon Capital Management
Location: U.S.
Strategy: Long/short
Assets, in billions: $1.2
YTD total return: 9.1%
2011 return: -18.0%
99.
Fund: Two Sigma Compass Enhanced U.S.
Managers: Team managed
Management Firm: Two Sigma Investments
Location: U.S.
Strategy: Managed futures
Assets, in billions: $2.6
YTD total return: 9.0%
2011 return: 3.7%
*
Fund: York Capital Management
Managers: James Dinan, Daniel Schwartz
Management Firm: York Capital Management
Location: U.S.
Strategy: Multistrategy
Assets, in billions: $5.1
YTD total return: 9.0%
2011 return: -7.1%
Report on
2010 Inspection of Liebman Goldberg &
Hymowitz, LLP
(Headquartered in Garden City, New Yorkhttp://pcaobus.org/Inspections/Reports/Documents/2011_Liebman_Goldberg_Hymowitz_LLP.pdf
TOP accounting firms to manage a firm assets!!
Needs a new accounting firm to manage JUNP!!
Top 10 Accounting Firms in the N.Y
Rank
Rank
Firm
2013 revenue (in millions)
2012 revenue (in millions)
2013 total professionals
2012 total professionals
1 Deloitte $13,067.0 $11,939.0 43,294 38,301
2 PwC $9,551.5 $8,844.00 n/a 25,237
3 Ernst & Young $8,200.0 $7,500.0 22,000 19,400
4 KPMG $5,753.0 $5,361.0 17,809 15,664
5 CohnReznick* $488.0 n/a 1,493 n/a
6 Marcum $275.50 $274.2 574 549
7 Eisner Amper $256.9 $254.6 927 822
8 WeiserMazars $132.2 $124.5 402 405
9 Citrin Cooperman & Co. $125.0 $115.0 291 285
10 Berdon $97.2 $95.0 331 327
BIG NEWS!!!
OTCQB Fact Sheet Creating a Better Venture Stage Marketplace
Companies Currently Traded on OT CQB
OTC Markets will roll out the new procedures for
OTCQB over the course of a year. Each company
will be required to comply with the new OTCQB
procedures 120 days after its Fiscal Year End
(“FYE”). Companies that do not comply with the
new procedures within the required timeframe
will be downgraded to OTC Pink.
Companies with a March 31 FYE will be the first
group of current OTCQB companies subject to
the new requirements and will be required to
comply with the new OTCQB standards by July
31, 2014. The rollout will be complete when the
last group of current OTCQB companies with a
FYE of March 30 are required to comply on July
30, 2015.
During 2014, companies may choose to apply to
OTCQB prior to their required compliance date to
take advantage of discounted pricing.
Summary of Changes
To be eligible for OTCQB, companies will be required to:
• Meet a minimum bid price test of $0.01. Securities that do not meet the minimum bid price test will be
downgraded to OTC Pink
• Submit an application to OTCQB and pay an application and annual fee
• Submit an OTCQB Annual Certification confirming the Company Profile displayed on otcmarkets.com is current
and complete and providing additional information on officers, directors, and controlling shareholders
Additional Changes:
• International Reporting companies listed on a Qualified Foreign Stock Exchange are now eligible for OTCQB
• Banks that do not file disclosures on EDGAR will be required to post their regulatory filings on otcmarkets.com
• Securities of companies that do not either meet the OTCQB standards or qualify for OTCQX will likely continue to
be traded by broker-dealers on OTC Pink
Timing
Beginning May 1, 2014:
• Bid Test: All current OTCQB companies that
do not meet the minimum bid test (minimum
bid price of $0.01 per share as of the close of
business for at least one of the previous thirty
consecutive calendar days) will be removed
from OTCQB beginning May 1 .
• New Companies: Companies that are not on
OTCQB as of April 30, 2014 must submit an
application, pay the required fees and follow
the new procedures in order to become
traded on OTCQB. Securities will no longer
be automatically put on OTCQB when a new
Form 211 is cleared by FINRA or an OTC Pink
company becomes current in its reporting.
• International Reporting: International
Reporting companies on a Qualified Foreign
Stock Exchange may now apply to trade
on OTCQB.
OTC Markets Group is making changes to OTCQB® to make it a better venture stage marketplace. Companies
will be required to meet eligibility standards aimed at improving the information available to investors. OTCQB
will include Real-Time Level 2 quotes and the OTC Disclosure & News Service to help companies improve the
information experience for their investors. This Fact Sheet provides details on the new requirements and
rollout schedule.
SEC Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be current in all periodic reporting requirements on EDGAR (or for companies not required to file on EDGAR, post
SEC disclosure on the OTC Markets website)
• Post on the OTC Markets website:
4OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post current SEC disclosure on EDGAR, or for companies that do not file on EDGAR, post current SEC disclosure on
the OTC Markets website
• Post on the OTC Markets website:
4OTCQB Annual Certification
Bank Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Post on the OTC Markets website:
4 Previous two years’ disclosure that was filed with the company’s bank regulator (except that information
deemed non-public does not need to be posted)
4 OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure that is filed with the company’s bank regulator (except that information deemed non-public does not
need to be posted)
4 OTCQB Annual Certification
International Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be compliant with SEC Rule 12g3-2(b) and be listed on a Qualified Foreign Exchange
• Submit a “Letter of Introduction” from a qualified PAL which states the PAL has a reasonable belief that the Company
is in compliance with 12g3-2(b), is listed on a Qualified Foreign Exchange, and has posted required disclosure on
OTC Markets website
• Post on the OTC Markets website:
4 Previous two years’ of disclosure required under 12g3-2(b) in English (except press releases)
4 OTCQB Initial Certification (see below details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure required under 12g3-2(b) in English, including Quarterly Reports and audited Annual Reports (except
press releases)
4 OTCQB Annual Certification
Requirements :OTCQB
Annual Certification
Each OTCQB company must post initial and annual certification on the OTC Markets website, signed by the CEO
and/or the CFO which states the following:
• The company’s reporting standard (e.g. SEC Reporting, Bank Reporting, or International Reporting) and briefly
describe the registration status of the company
• That the company is current in its reporting obligations to its regulator and such information has been posted
either on EDGAR or the OTC Markets website
• Indicates the Law Firm and/or Attorneys involved in helping the company prepare its Annual Report or 10-K
• Confirms that the company profile on the OTC Markets website is current and complete
• Confirms the total shares outstanding and in the public float as of the most recent fiscal year end
• Names and shareholdings of all officers and directors, as well as beneficial shareholders who hold more than 5%
of outstanding shares
Fees
• Application Fee. There is a one-time application fee of $2,500 for new companies upgrading to OTCQB.
Application Fee is waived for current OTCQB companies
• Annual Fee. $10,000 per year
• Introductory Annual Fee. For current OTCQB companies that apply for OTCQB in 2014, the Annual Fee shall be
discounted to $7,500 for each of the first two years (a total discount of $5,000 or 25%)
ABOUT OT C MARKETS GROUP: OTC Markets Group Inc. operates Open, Transparent and Connected financial
marketplaces for 10,000 U.S. and global securities. To learn how OTC Markets Group creates better informed and
more efficient financial marketplaces, visit www.otcmarkets.com. OTC Link® ATS is operated by OTC Link LLC,
member FINRA/SIPC and SEC registered Alternative Trading System.
Follow us:
OTCQB Premium Services
OTCQB includes the following premium marketplace services:
OT C Disclosure & News Service enables companies to share reports, news, videos, investor presentations
and more
Real-Time Level 2 Quotes available for free to all investors on www.otcmarkets.com and on your company IR
website (via API link, as requested)
OT CIQ Quote & Trade History Dashboard
Dedicated Support Line
CONTACT US
issuers@otcmarkets.com // +1.212.896.4420 // www.otcmarkets.com
BIG NEWS!!!!!
OTCQB Fact Sheet Creating a Better Venture Stage Marketplace
Companies Currently Traded on OT CQB
OTC Markets will roll out the new procedures for
OTCQB over the course of a year. Each company
will be required to comply with the new OTCQB
procedures 120 days after its Fiscal Year End
(“FYE”). Companies that do not comply with the
new procedures within the required timeframe
will be downgraded to OTC Pink.
Companies with a March 31 FYE will be the first
group of current OTCQB companies subject to
the new requirements and will be required to
comply with the new OTCQB standards by July
31, 2014. The rollout will be complete when the
last group of current OTCQB companies with a
FYE of March 30 are required to comply on July
30, 2015.
During 2014, companies may choose to apply to
OTCQB prior to their required compliance date to
take advantage of discounted pricing.
Summary of Changes
To be eligible for OTCQB, companies will be required to:
• Meet a minimum bid price test of $0.01. Securities that do not meet the minimum bid price test will be
downgraded to OTC Pink
• Submit an application to OTCQB and pay an application and annual fee
• Submit an OTCQB Annual Certification confirming the Company Profile displayed on otcmarkets.com is current
and complete and providing additional information on officers, directors, and controlling shareholders
Additional Changes:
• International Reporting companies listed on a Qualified Foreign Stock Exchange are now eligible for OTCQB
• Banks that do not file disclosures on EDGAR will be required to post their regulatory filings on otcmarkets.com
• Securities of companies that do not either meet the OTCQB standards or qualify for OTCQX will likely continue to
be traded by broker-dealers on OTC Pink
Timing
Beginning May 1, 2014:
• Bid Test: All current OTCQB companies that
do not meet the minimum bid test (minimum
bid price of $0.01 per share as of the close of
business for at least one of the previous thirty
consecutive calendar days) will be removed
from OTCQB beginning May 1 .
• New Companies: Companies that are not on
OTCQB as of April 30, 2014 must submit an
application, pay the required fees and follow
the new procedures in order to become
traded on OTCQB. Securities will no longer
be automatically put on OTCQB when a new
Form 211 is cleared by FINRA or an OTC Pink
company becomes current in its reporting.
• International Reporting: International
Reporting companies on a Qualified Foreign
Stock Exchange may now apply to trade
on OTCQB.
OTC Markets Group is making changes to OTCQB® to make it a better venture stage marketplace. Companies
will be required to meet eligibility standards aimed at improving the information available to investors. OTCQB
will include Real-Time Level 2 quotes and the OTC Disclosure & News Service to help companies improve the
information experience for their investors. This Fact Sheet provides details on the new requirements and
rollout schedule.
SEC Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be current in all periodic reporting requirements on EDGAR (or for companies not required to file on EDGAR, post
SEC disclosure on the OTC Markets website)
• Post on the OTC Markets website:
4OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post current SEC disclosure on EDGAR, or for companies that do not file on EDGAR, post current SEC disclosure on
the OTC Markets website
• Post on the OTC Markets website:
4OTCQB Annual Certification
Bank Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Post on the OTC Markets website:
4 Previous two years’ disclosure that was filed with the company’s bank regulator (except that information
deemed non-public does not need to be posted)
4 OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure that is filed with the company’s bank regulator (except that information deemed non-public does not
need to be posted)
4 OTCQB Annual Certification
International Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be compliant with SEC Rule 12g3-2(b) and be listed on a Qualified Foreign Exchange
• Submit a “Letter of Introduction” from a qualified PAL which states the PAL has a reasonable belief that the Company
is in compliance with 12g3-2(b), is listed on a Qualified Foreign Exchange, and has posted required disclosure on
OTC Markets website
• Post on the OTC Markets website:
4 Previous two years’ of disclosure required under 12g3-2(b) in English (except press releases)
4 OTCQB Initial Certification (see below details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure required under 12g3-2(b) in English, including Quarterly Reports and audited Annual Reports (except
press releases)
4 OTCQB Annual Certification
Requirements :OTCQB
Annual Certification
Each OTCQB company must post initial and annual certification on the OTC Markets website, signed by the CEO
and/or the CFO which states the following:
• The company’s reporting standard (e.g. SEC Reporting, Bank Reporting, or International Reporting) and briefly
describe the registration status of the company
• That the company is current in its reporting obligations to its regulator and such information has been posted
either on EDGAR or the OTC Markets website
• Indicates the Law Firm and/or Attorneys involved in helping the company prepare its Annual Report or 10-K
• Confirms that the company profile on the OTC Markets website is current and complete
• Confirms the total shares outstanding and in the public float as of the most recent fiscal year end
• Names and shareholdings of all officers and directors, as well as beneficial shareholders who hold more than 5%
of outstanding shares
Fees
• Application Fee. There is a one-time application fee of $2,500 for new companies upgrading to OTCQB.
Application Fee is waived for current OTCQB companies
• Annual Fee. $10,000 per year
• Introductory Annual Fee. For current OTCQB companies that apply for OTCQB in 2014, the Annual Fee shall be
discounted to $7,500 for each of the first two years (a total discount of $5,000 or 25%)
ABOUT OT C MARKETS GROUP: OTC Markets Group Inc. operates Open, Transparent and Connected financial
marketplaces for 10,000 U.S. and global securities. To learn how OTC Markets Group creates better informed and
more efficient financial marketplaces, visit www.otcmarkets.com. OTC Link® ATS is operated by OTC Link LLC,
member FINRA/SIPC and SEC registered Alternative Trading System.
Follow us:
OTCQB Premium Services
OTCQB includes the following premium marketplace services:
OT C Disclosure & News Service enables companies to share reports, news, videos, investor presentations
and more
Real-Time Level 2 Quotes available for free to all investors on www.otcmarkets.com and on your company IR
website (via API link, as requested)
OT CIQ Quote & Trade History Dashboard
Dedicated Support Line
CONTACT US
issuers@otcmarkets.com // +1.212.896.4420 // www.otcmarkets.com
BIG NEWS!!!!!
OTCQB Fact Sheet Creating a Better Venture Stage Marketplace
Companies Currently Traded on OT CQB
OTC Markets will roll out the new procedures for
OTCQB over the course of a year. Each company
will be required to comply with the new OTCQB
procedures 120 days after its Fiscal Year End
(“FYE”). Companies that do not comply with the
new procedures within the required timeframe
will be downgraded to OTC Pink.
Companies with a March 31 FYE will be the first
group of current OTCQB companies subject to
the new requirements and will be required to
comply with the new OTCQB standards by July
31, 2014. The rollout will be complete when the
last group of current OTCQB companies with a
FYE of March 30 are required to comply on July
30, 2015.
During 2014, companies may choose to apply to
OTCQB prior to their required compliance date to
take advantage of discounted pricing.
Summary of Changes
To be eligible for OTCQB, companies will be required to:
• Meet a minimum bid price test of $0.01. Securities that do not meet the minimum bid price test will be
downgraded to OTC Pink
• Submit an application to OTCQB and pay an application and annual fee
• Submit an OTCQB Annual Certification confirming the Company Profile displayed on otcmarkets.com is current
and complete and providing additional information on officers, directors, and controlling shareholders
Additional Changes:
• International Reporting companies listed on a Qualified Foreign Stock Exchange are now eligible for OTCQB
• Banks that do not file disclosures on EDGAR will be required to post their regulatory filings on otcmarkets.com
• Securities of companies that do not either meet the OTCQB standards or qualify for OTCQX will likely continue to
be traded by broker-dealers on OTC Pink
Timing
Beginning May 1, 2014:
• Bid Test: All current OTCQB companies that
do not meet the minimum bid test (minimum
bid price of $0.01 per share as of the close of
business for at least one of the previous thirty
consecutive calendar days) will be removed
from OTCQB beginning May 1 .
• New Companies: Companies that are not on
OTCQB as of April 30, 2014 must submit an
application, pay the required fees and follow
the new procedures in order to become
traded on OTCQB. Securities will no longer
be automatically put on OTCQB when a new
Form 211 is cleared by FINRA or an OTC Pink
company becomes current in its reporting.
• International Reporting: International
Reporting companies on a Qualified Foreign
Stock Exchange may now apply to trade
on OTCQB.
OTC Markets Group is making changes to OTCQB® to make it a better venture stage marketplace. Companies
will be required to meet eligibility standards aimed at improving the information available to investors. OTCQB
will include Real-Time Level 2 quotes and the OTC Disclosure & News Service to help companies improve the
information experience for their investors. This Fact Sheet provides details on the new requirements and
rollout schedule.
SEC Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be current in all periodic reporting requirements on EDGAR (or for companies not required to file on EDGAR, post
SEC disclosure on the OTC Markets website)
• Post on the OTC Markets website:
4OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post current SEC disclosure on EDGAR, or for companies that do not file on EDGAR, post current SEC disclosure on
the OTC Markets website
• Post on the OTC Markets website:
4OTCQB Annual Certification
Bank Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Post on the OTC Markets website:
4 Previous two years’ disclosure that was filed with the company’s bank regulator (except that information
deemed non-public does not need to be posted)
4 OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure that is filed with the company’s bank regulator (except that information deemed non-public does not
need to be posted)
4 OTCQB Annual Certification
International Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be compliant with SEC Rule 12g3-2(b) and be listed on a Qualified Foreign Exchange
• Submit a “Letter of Introduction” from a qualified PAL which states the PAL has a reasonable belief that the Company
is in compliance with 12g3-2(b), is listed on a Qualified Foreign Exchange, and has posted required disclosure on
OTC Markets website
• Post on the OTC Markets website:
4 Previous two years’ of disclosure required under 12g3-2(b) in English (except press releases)
4 OTCQB Initial Certification (see below details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure required under 12g3-2(b) in English, including Quarterly Reports and audited Annual Reports (except
press releases)
4 OTCQB Annual Certification
Requirements :OTCQB
Annual Certification
Each OTCQB company must post initial and annual certification on the OTC Markets website, signed by the CEO
and/or the CFO which states the following:
• The company’s reporting standard (e.g. SEC Reporting, Bank Reporting, or International Reporting) and briefly
describe the registration status of the company
• That the company is current in its reporting obligations to its regulator and such information has been posted
either on EDGAR or the OTC Markets website
• Indicates the Law Firm and/or Attorneys involved in helping the company prepare its Annual Report or 10-K
• Confirms that the company profile on the OTC Markets website is current and complete
• Confirms the total shares outstanding and in the public float as of the most recent fiscal year end
• Names and shareholdings of all officers and directors, as well as beneficial shareholders who hold more than 5%
of outstanding shares
Fees
• Application Fee. There is a one-time application fee of $2,500 for new companies upgrading to OTCQB.
Application Fee is waived for current OTCQB companies
• Annual Fee. $10,000 per year
• Introductory Annual Fee. For current OTCQB companies that apply for OTCQB in 2014, the Annual Fee shall be
discounted to $7,500 for each of the first two years (a total discount of $5,000 or 25%)
ABOUT OT C MARKETS GROUP: OTC Markets Group Inc. operates Open, Transparent and Connected financial
marketplaces for 10,000 U.S. and global securities. To learn how OTC Markets Group creates better informed and
more efficient financial marketplaces, visit www.otcmarkets.com. OTC Link® ATS is operated by OTC Link LLC,
member FINRA/SIPC and SEC registered Alternative Trading System.
Follow us:
OTCQB Premium Services
OTCQB includes the following premium marketplace services:
OT C Disclosure & News Service enables companies to share reports, news, videos, investor presentations
and more
Real-Time Level 2 Quotes available for free to all investors on www.otcmarkets.com and on your company IR
website (via API link, as requested)
OT CIQ Quote & Trade History Dashboard
Dedicated Support Line
CONTACT US
issuers@otcmarkets.com // +1.212.896.4420 // www.otcmarkets.com
BIG NEWS!!!!!
OTCQB Fact Sheet Creating a Better Venture Stage Marketplace
Companies Currently Traded on OT CQB
OTC Markets will roll out the new procedures for
OTCQB over the course of a year. Each company
will be required to comply with the new OTCQB
procedures 120 days after its Fiscal Year End
(“FYE”). Companies that do not comply with the
new procedures within the required timeframe
will be downgraded to OTC Pink.
Companies with a March 31 FYE will be the first
group of current OTCQB companies subject to
the new requirements and will be required to
comply with the new OTCQB standards by July
31, 2014. The rollout will be complete when the
last group of current OTCQB companies with a
FYE of March 30 are required to comply on July
30, 2015.
During 2014, companies may choose to apply to
OTCQB prior to their required compliance date to
take advantage of discounted pricing.
Summary of Changes
To be eligible for OTCQB, companies will be required to:
• Meet a minimum bid price test of $0.01. Securities that do not meet the minimum bid price test will be
downgraded to OTC Pink
• Submit an application to OTCQB and pay an application and annual fee
• Submit an OTCQB Annual Certification confirming the Company Profile displayed on otcmarkets.com is current
and complete and providing additional information on officers, directors, and controlling shareholders
Additional Changes:
• International Reporting companies listed on a Qualified Foreign Stock Exchange are now eligible for OTCQB
• Banks that do not file disclosures on EDGAR will be required to post their regulatory filings on otcmarkets.com
• Securities of companies that do not either meet the OTCQB standards or qualify for OTCQX will likely continue to
be traded by broker-dealers on OTC Pink
Timing
Beginning May 1, 2014:
• Bid Test: All current OTCQB companies that
do not meet the minimum bid test (minimum
bid price of $0.01 per share as of the close of
business for at least one of the previous thirty
consecutive calendar days) will be removed
from OTCQB beginning May 1 .
• New Companies: Companies that are not on
OTCQB as of April 30, 2014 must submit an
application, pay the required fees and follow
the new procedures in order to become
traded on OTCQB. Securities will no longer
be automatically put on OTCQB when a new
Form 211 is cleared by FINRA or an OTC Pink
company becomes current in its reporting.
• International Reporting: International
Reporting companies on a Qualified Foreign
Stock Exchange may now apply to trade
on OTCQB.
OTC Markets Group is making changes to OTCQB® to make it a better venture stage marketplace. Companies
will be required to meet eligibility standards aimed at improving the information available to investors. OTCQB
will include Real-Time Level 2 quotes and the OTC Disclosure & News Service to help companies improve the
information experience for their investors. This Fact Sheet provides details on the new requirements and
rollout schedule.
SEC Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be current in all periodic reporting requirements on EDGAR (or for companies not required to file on EDGAR, post
SEC disclosure on the OTC Markets website)
• Post on the OTC Markets website:
4OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post current SEC disclosure on EDGAR, or for companies that do not file on EDGAR, post current SEC disclosure on
the OTC Markets website
• Post on the OTC Markets website:
4OTCQB Annual Certification
Bank Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Post on the OTC Markets website:
4 Previous two years’ disclosure that was filed with the company’s bank regulator (except that information
deemed non-public does not need to be posted)
4 OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure that is filed with the company’s bank regulator (except that information deemed non-public does not
need to be posted)
4 OTCQB Annual Certification
International Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be compliant with SEC Rule 12g3-2(b) and be listed on a Qualified Foreign Exchange
• Submit a “Letter of Introduction” from a qualified PAL which states the PAL has a reasonable belief that the Company
is in compliance with 12g3-2(b), is listed on a Qualified Foreign Exchange, and has posted required disclosure on
OTC Markets website
• Post on the OTC Markets website:
4 Previous two years’ of disclosure required under 12g3-2(b) in English (except press releases)
4 OTCQB Initial Certification (see below details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure required under 12g3-2(b) in English, including Quarterly Reports and audited Annual Reports (except
press releases)
4 OTCQB Annual Certification
Requirements :OTCQB
Annual Certification
Each OTCQB company must post initial and annual certification on the OTC Markets website, signed by the CEO
and/or the CFO which states the following:
• The company’s reporting standard (e.g. SEC Reporting, Bank Reporting, or International Reporting) and briefly
describe the registration status of the company
• That the company is current in its reporting obligations to its regulator and such information has been posted
either on EDGAR or the OTC Markets website
• Indicates the Law Firm and/or Attorneys involved in helping the company prepare its Annual Report or 10-K
• Confirms that the company profile on the OTC Markets website is current and complete
• Confirms the total shares outstanding and in the public float as of the most recent fiscal year end
• Names and shareholdings of all officers and directors, as well as beneficial shareholders who hold more than 5%
of outstanding shares
Fees
• Application Fee. There is a one-time application fee of $2,500 for new companies upgrading to OTCQB.
Application Fee is waived for current OTCQB companies
• Annual Fee. $10,000 per year
• Introductory Annual Fee. For current OTCQB companies that apply for OTCQB in 2014, the Annual Fee shall be
discounted to $7,500 for each of the first two years (a total discount of $5,000 or 25%)
ABOUT OT C MARKETS GROUP: OTC Markets Group Inc. operates Open, Transparent and Connected financial
marketplaces for 10,000 U.S. and global securities. To learn how OTC Markets Group creates better informed and
more efficient financial marketplaces, visit www.otcmarkets.com. OTC Link® ATS is operated by OTC Link LLC,
member FINRA/SIPC and SEC registered Alternative Trading System.
Follow us:
OTCQB Premium Services
OTCQB includes the following premium marketplace services:
OT C Disclosure & News Service enables companies to share reports, news, videos, investor presentations
and more
Real-Time Level 2 Quotes available for free to all investors on www.otcmarkets.com and on your company IR
website (via API link, as requested)
OT CIQ Quote & Trade History Dashboard
Dedicated Support Line
CONTACT US
issuers@otcmarkets.com // +1.212.896.4420 // www.otcmarkets.com
BIG NEWS!!!!!
OTCQB Fact Sheet Creating a Better Venture Stage Marketplace
Companies Currently Traded on OT CQB
OTC Markets will roll out the new procedures for
OTCQB over the course of a year. Each company
will be required to comply with the new OTCQB
procedures 120 days after its Fiscal Year End
(“FYE”). Companies that do not comply with the
new procedures within the required timeframe
will be downgraded to OTC Pink.
Companies with a March 31 FYE will be the first
group of current OTCQB companies subject to
the new requirements and will be required to
comply with the new OTCQB standards by July
31, 2014. The rollout will be complete when the
last group of current OTCQB companies with a
FYE of March 30 are required to comply on July
30, 2015.
During 2014, companies may choose to apply to
OTCQB prior to their required compliance date to
take advantage of discounted pricing.
Summary of Changes
To be eligible for OTCQB, companies will be required to:
• Meet a minimum bid price test of $0.01. Securities that do not meet the minimum bid price test will be
downgraded to OTC Pink
• Submit an application to OTCQB and pay an application and annual fee
• Submit an OTCQB Annual Certification confirming the Company Profile displayed on otcmarkets.com is current
and complete and providing additional information on officers, directors, and controlling shareholders
Additional Changes:
• International Reporting companies listed on a Qualified Foreign Stock Exchange are now eligible for OTCQB
• Banks that do not file disclosures on EDGAR will be required to post their regulatory filings on otcmarkets.com
• Securities of companies that do not either meet the OTCQB standards or qualify for OTCQX will likely continue to
be traded by broker-dealers on OTC Pink
Timing
Beginning May 1, 2014:
• Bid Test: All current OTCQB companies that
do not meet the minimum bid test (minimum
bid price of $0.01 per share as of the close of
business for at least one of the previous thirty
consecutive calendar days) will be removed
from OTCQB beginning May 1 .
• New Companies: Companies that are not on
OTCQB as of April 30, 2014 must submit an
application, pay the required fees and follow
the new procedures in order to become
traded on OTCQB. Securities will no longer
be automatically put on OTCQB when a new
Form 211 is cleared by FINRA or an OTC Pink
company becomes current in its reporting.
• International Reporting: International
Reporting companies on a Qualified Foreign
Stock Exchange may now apply to trade
on OTCQB.
OTC Markets Group is making changes to OTCQB® to make it a better venture stage marketplace. Companies
will be required to meet eligibility standards aimed at improving the information available to investors. OTCQB
will include Real-Time Level 2 quotes and the OTC Disclosure & News Service to help companies improve the
information experience for their investors. This Fact Sheet provides details on the new requirements and
rollout schedule.
SEC Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be current in all periodic reporting requirements on EDGAR (or for companies not required to file on EDGAR, post
SEC disclosure on the OTC Markets website)
• Post on the OTC Markets website:
4OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post current SEC disclosure on EDGAR, or for companies that do not file on EDGAR, post current SEC disclosure on
the OTC Markets website
• Post on the OTC Markets website:
4OTCQB Annual Certification
Bank Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Post on the OTC Markets website:
4 Previous two years’ disclosure that was filed with the company’s bank regulator (except that information
deemed non-public does not need to be posted)
4 OTCQB Initial Certification (see below for details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure that is filed with the company’s bank regulator (except that information deemed non-public does not
need to be posted)
4 OTCQB Annual Certification
International Reporting Companies
Initial Requirements
• Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and applicable fees
• Be compliant with SEC Rule 12g3-2(b) and be listed on a Qualified Foreign Exchange
• Submit a “Letter of Introduction” from a qualified PAL which states the PAL has a reasonable belief that the Company
is in compliance with 12g3-2(b), is listed on a Qualified Foreign Exchange, and has posted required disclosure on
OTC Markets website
• Post on the OTC Markets website:
4 Previous two years’ of disclosure required under 12g3-2(b) in English (except press releases)
4 OTCQB Initial Certification (see below details on Certification requirements)
Ongoing Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post on the OTC Markets website:
4 Disclosure required under 12g3-2(b) in English, including Quarterly Reports and audited Annual Reports (except
press releases)
4 OTCQB Annual Certification
Requirements :OTCQB
Annual Certification
Each OTCQB company must post initial and annual certification on the OTC Markets website, signed by the CEO
and/or the CFO which states the following:
• The company’s reporting standard (e.g. SEC Reporting, Bank Reporting, or International Reporting) and briefly
describe the registration status of the company
• That the company is current in its reporting obligations to its regulator and such information has been posted
either on EDGAR or the OTC Markets website
• Indicates the Law Firm and/or Attorneys involved in helping the company prepare its Annual Report or 10-K
• Confirms that the company profile on the OTC Markets website is current and complete
• Confirms the total shares outstanding and in the public float as of the most recent fiscal year end
• Names and shareholdings of all officers and directors, as well as beneficial shareholders who hold more than 5%
of outstanding shares
Fees
• Application Fee. There is a one-time application fee of $2,500 for new companies upgrading to OTCQB.
Application Fee is waived for current OTCQB companies
• Annual Fee. $10,000 per year
• Introductory Annual Fee. For current OTCQB companies that apply for OTCQB in 2014, the Annual Fee shall be
discounted to $7,500 for each of the first two years (a total discount of $5,000 or 25%)
ABOUT OT C MARKETS GROUP: OTC Markets Group Inc. operates Open, Transparent and Connected financial
marketplaces for 10,000 U.S. and global securities. To learn how OTC Markets Group creates better informed and
more efficient financial marketplaces, visit www.otcmarkets.com. OTC Link® ATS is operated by OTC Link LLC,
member FINRA/SIPC and SEC registered Alternative Trading System.
Follow us:
OTCQB Premium Services
OTCQB includes the following premium marketplace services:
OT C Disclosure & News Service enables companies to share reports, news, videos, investor presentations
and more
Real-Time Level 2 Quotes available for free to all investors on www.otcmarkets.com and on your company IR
website (via API link, as requested)
OT CIQ Quote & Trade History Dashboard
Dedicated Support Line
CONTACT US
issuers@otcmarkets.com // +1.212.896.4420 // www.otcmarkets.com
SEC Litigation Release
Jun 04, 2012
OTC Disclosure & News Service
New York, NY -
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22389 / June 4, 2012
SEC v. Yan K. Skwara and US Farms, Inc., Civil Action No. 0:12-cv-61078-JAL (U.S. District Court for the Southern District of Florida)
SEC v. Douglas D. Hague and Clean Coal Technologies, Inc., Civil Action No. 0:12-cv-61076-WJZ (U.S. District Court for the Southern District of Florida)
SEC v. Joseph J. Repko, Michael M. Cimino, and Sure Trace Security Corp., Civil Action No. 0:12-cv-61079-KMW (U.S. District Court for the Southern District of Florida)
SEC v. Ryan F. Coblin and Delivery Technology Solutions, Inc., Civil Action No. 0:12-cv-80599-KLR (U.S. District Court for the Southern District of Florida)
SEC v. Robert L. Cotton and Cotton & Western Mining, Inc., Civil Action No. 0:12-cv-61072-WJZ (U.S. District Court for the Southern District of Florida)
SEC v. Harold Steven Bonenberger and Angel Acquisition Corp. n/k/a Biogeron, Inc., Civil Action No. 0:12-cv-61075-WPD (U.S. District Court for the Southern District of Florida)
SEC v. Matthew A. Connor, Civil Action No. 0:12-cv-61081-RNS (U.S. District Court for the Southern District of Florida)
SEC v. Kevin P. Brennan, Donald G. Huggins, and Marc S. Page and Optimized Transportation Management, Inc., Civil Action No. 0:12-cv-61074-JIC (U.S. District Court for the Southern District of Florida)
SEC v. Scott A. Haire and Wound Management Technologies, Inc., Civil Action No. 0:12-cv-61077-CMA (U.S. District Court for the Southern District of Florida)
The Securities and Exchange Commission today charged several CEOs and their companies, and three penny stock promoters with securities fraud for their roles in various illicit kickback and market manipulation schemes involving microcap stocks. The defendants reside or are based in South Florida, California, Texas, Pennsylvania, New York, Virginia, and Nevada.
The SEC worked closely with the U.S. Attorney’s Office for the Southern District of Florida and the Federal Bureau of Investigation as the separate schemes were uncovered. The U.S. Attorney’s Office today announced criminal charges against the same individuals facing SEC civil charges.
According to complaints the SEC filed in the U.S. District Court for the Southern District of Florida, defendants Yan K. Skwara, Douglas D. Hague, Joseph J. Repko, Michael M. Cimino, Ryan F. Coblin, US Farms, Inc., Clean Coal Technologies, Inc., Sure Trace Security Corp., and Delivery Technology Solutions, Inc. engaged in schemes involving the payment of undisclosed kickbacks to a pension fund manager in exchange for the fund’s purchase of restricted shares of stock in the various microcap companies.
According to additional complaints also filed in the Southern District of Florida, defendants Robert L. Cotton, Harold Steven Bonenberger, Matthew A. Connor, Kevin P. Brennan, Donald G. Huggins, Marc S. Page, Cotton & Western Mining, Inc., Angel Acquisition Corp. n/k/a Biogeron, Inc., and Optimized Transportation Management, Inc. engaged in schemes involving an undisclosed bribe that was to be paid to a stock broker who agreed to purchase the microcap companies’ stock in the open market for his customers’ discretionary accounts. In the complaint against defendants Scott A. Haire and Wound Management Technologies, Inc., the SEC alleges that the defendants engaged in schemes involving both an undisclosed kickback and bribe.
The SEC alleges that the defendants in the schemes involving undisclosed kickbacks understood they needed to disguise the kickbacks as payments to phony consulting companies, which they knew would perform no actual work. They also knew the fund manager owed a fiduciary duty to the fund. In the schemes involving the undisclosed bribes, the SEC alleges that the defendants knew their illegal activities were meant to artificially inflate the companies’ stock volume and prices.
The SEC’s complaints allege the defendants violated Section 17(a)(1) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and/or 10b-5(c) thereunder. The SEC is seeking permanent injunctions, disgorgement plus prejudgment interest, and financial penalties against all the defendants; penny stock bars against all the individual defendants, and officer-and-director bars against defendants Skwara, Hague, Cimino, Bonenberger, Brennan, and Haire.
The SEC acknowledges the assistance and cooperation of the United States Attorney’s Office for the Southern District of Florida and the Federal Bureau of Investigation, Miami Division, in investigating these matters.
http://www.sec.gov/litigation/litreleases/2012/lr22389.htm
Copyright © 2014 OTC Markets. All Rights Reserved
They should look into expanding their business maybe even look into hedge fund for some capital
AUM as of Oct. 31 2011
(billions of USD)
1 Bridgewater Associates United States Westport, CT $77.6
2 Man Group United Kingdom London $64.5
3 J.P. Morgan Asset Management United States New York $46.6
4 Brevan Howard Asset Management United Kingdom London $36.6
5 Och-Ziff Capital Management Group United States New York $28.5
6 Paulson & Co. United States New York $28.0
7 BlackRock Advisors United States New York $27.7
8 Winton Capital Management United Kingdom London $27.0
9 Highbridge Capital Management United States New York $26.1
10 BlueCrest Capital Management United Kingdom London $25.0
11 Baupost Group United States Boston $23.0
12 Cerberus Capital Management United States New York $23.0
13 D.E. Shaw & Co. United States New York $23.0
14 Angelo Gordon Co. United States New York $22.0
15 AQR Capital Management United States Greenwich, CT $20.5
16 Farallon Capital Management United States San Francisco $20.0
17 Goldman Sachs Assets Management United States New York $19.5
18 Elliott Management United States New York $19.0
19 King Street Capital Management United States New York $18.5
20 Canyon Partners United States Los Angeles $18.1
Very strange activity why would anyone invest money when a business license has been revoked Nevada sos!????
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=zf0flZjC4iHZqX6Zm5FVMg%253d%253d&nt7=0
So far if you check Nevada sos business search for angel acquisition you can visually see their business license has been revoked therefore, who will invest in a company without a business license I think the CEO has to do better than that!! that's crazy how do you expect to run a company without one!
FINRA Updates the OTCBB/OTC Equities High Price Dissemination List
Overview
FINRA® is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List, which will be available via a Unit of Trade query of the Daily List. This updated list of OTC Equity Securities eligible for trade report dissemination for trades of fewer than 100 shares will be effective March 24, 2014. All changes can be viewed by going to http://www.otcbb.com/AllDailyList/ , selecting “Unit of Trade Changes” in the “Search by Date Range” and entering March 21, 2014 as the “From” date.
As discussed in the OTCBB April 15, 2008 News Item http://www.otcbb.com/news/2008/GeneralNews/041508.stm), for all OTC Equity Securities that trade at or above $175.00, transactions of fewer than 100 shares are no longer considered “odd-lot” transactions for dissemination purposes. Instead, FINRA has designated the unit of trade for these securities as one (1), and FINRA disseminates last sale information for all transactions of one or more shares in such securities. FINRA reviews trading activity quarterly to determine whether additional OTC equity securities meet the stated dissemination criteria.
For further information, please refer to the FINRA Trade Reporting Notice.
Contact Information: Contacts for questions: FINRA Operations 866.776.0800 or finraoperations@finra.org.
FINRA Updates the OTCBB/OTC Equities High Price Dissemination List
Overview
FINRA® is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List, which will be available via a Unit of Trade query of the Daily List. This updated list of OTC Equity Securities eligible for trade report dissemination for trades of fewer than 100 shares will be effective March 24, 2014. All changes can be viewed by going to http://www.otcbb.com/AllDailyList/ , selecting “Unit of Trade Changes” in the “Search by Date Range” and entering March 21, 2014 as the “From” date.
As discussed in the OTCBB April 15, 2008 News Item http://www.otcbb.com/news/2008/GeneralNews/041508.stm), for all OTC Equity Securities that trade at or above $175.00, transactions of fewer than 100 shares are no longer considered “odd-lot” transactions for dissemination purposes. Instead, FINRA has designated the unit of trade for these securities as one (1), and FINRA disseminates last sale information for all transactions of one or more shares in such securities. FINRA reviews trading activity quarterly to determine whether additional OTC equity securities meet the stated dissemination criteria.
For further information, please refer to the FINRA Trade Reporting Notice.
Contact Information: Contacts for questions: FINRA Operations 866.776.0800 or finraoperations@finra.org.
FINRA Updates the OTCBB/OTC Equities High Price Dissemination List
Overview
FINRA® is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List, which will be available via a Unit of Trade query of the Daily List. This updated list of OTC Equity Securities eligible for trade report dissemination for trades of fewer than 100 shares will be effective March 24, 2014. All changes can be viewed by going to http://www.otcbb.com/AllDailyList/ , selecting “Unit of Trade Changes” in the “Search by Date Range” and entering March 21, 2014 as the “From” date.
As discussed in the OTCBB April 15, 2008 News Item http://www.otcbb.com/news/2008/GeneralNews/041508.stm), for all OTC Equity Securities that trade at or above $175.00, transactions of fewer than 100 shares are no longer considered “odd-lot” transactions for dissemination purposes. Instead, FINRA has designated the unit of trade for these securities as one (1), and FINRA disseminates last sale information for all transactions of one or more shares in such securities. FINRA reviews trading activity quarterly to determine whether additional OTC equity securities meet the stated dissemination criteria.
For further information, please refer to the FINRA Trade Reporting Notice.
Contact Information: Contacts for questions: FINRA Operations 866.776.0800 or finraoperations@finra.org.
FINRA Updates the OTCBB/OTC Equities High Price Dissemination List
Overview
FINRA® is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List, which will be available via a Unit of Trade query of the Daily List. This updated list of OTC Equity Securities eligible for trade report dissemination for trades of fewer than 100 shares will be effective March 24, 2014. All changes can be viewed by going to http://www.otcbb.com/AllDailyList/ , selecting “Unit of Trade Changes” in the “Search by Date Range” and entering March 21, 2014 as the “From” date.
As discussed in the OTCBB April 15, 2008 News Item http://www.otcbb.com/news/2008/GeneralNews/041508.stm), for all OTC Equity Securities that trade at or above $175.00, transactions of fewer than 100 shares are no longer considered “odd-lot” transactions for dissemination purposes. Instead, FINRA has designated the unit of trade for these securities as one (1), and FINRA disseminates last sale information for all transactions of one or more shares in such securities. FINRA reviews trading activity quarterly to determine whether additional OTC equity securities meet the stated dissemination criteria.
For further information, please refer to the FINRA Trade Reporting Notice.
Contact Information: Contacts for questions: FINRA Operations 866.776.0800 or finraoperations@finra.org.
FINRA Updates the OTCBB/OTC Equities High Price Dissemination List
Overview
FINRA® is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List, which will be available via a Unit of Trade query of the Daily List. This updated list of OTC Equity Securities eligible for trade report dissemination for trades of fewer than 100 shares will be effective March 24, 2014. All changes can be viewed by going to http://www.otcbb.com/AllDailyList/ , selecting “Unit of Trade Changes” in the “Search by Date Range” and entering March 21, 2014 as the “From” date.
As discussed in the OTCBB April 15, 2008 News Item http://www.otcbb.com/news/2008/GeneralNews/041508.stm), for all OTC Equity Securities that trade at or above $175.00, transactions of fewer than 100 shares are no longer considered “odd-lot” transactions for dissemination purposes. Instead, FINRA has designated the unit of trade for these securities as one (1), and FINRA disseminates last sale information for all transactions of one or more shares in such securities. FINRA reviews trading activity quarterly to determine whether additional OTC equity securities meet the stated dissemination criteria.
For further information, please refer to the FINRA Trade Reporting Notice.
Contact Information: Contacts for questions: FINRA Operations 866.776.0800 or finraoperations@finra.org.