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Deferred revenue balance of $747,780, when and if collected has to be shared with Shenghou, LLC now know as K2.
Faupel and Blumberg are being sue for deceiving plaintiff GIUL LLC: not telling the truth in the first place in a fund raising Securities transaction, telling half truths, making misrepresentations, not making material disclosures in raising funds, and engaging in unfair and deceptive practices. Blumberg an Attorney is accused of telling lies on the stand under oath amounting to Perjury - as Blumberg engaged in after-the-fact personal invention of the facts.
GIUL, LLC is suing because it was deceived by Faupel and Blumberg and it did not, because of their deception, know material facts when it made its loan to Shenghou, LLC, an entity Faupel and Blumberg managed/controlled and they both own investment interests in.
Giul, LLC is also of the opinion that Faupel lied in both his deposition and on the stand at trial, thus committed Perjury to avoid having a Judgment issued against him.
Should Giul, LLC prevail in its case, GIUL will have grounds to Sue Guided Therapeutics If defendants don't satisfy - pay Giul's Judgment against defendants. Giul LLC intends and is prepared to do exactly that.
I am a shareholder in GTHP who has lost a fair amount of money. So I will say what I think is the truth about GTHP and its Officers and Directors.
Pointing out the truth of your Red Flag Disclosure on the 8k you posted.
Pointing out the Half Truths, Implied misrepresentation that GTHP getting all of SMI revenues and non-disclosure that Shenghou, LLC sharing in this revenue in the Item 13 you published.
Myjog: What do you think of this RED FLAG
Again Shenghou, LLC the original License holder with GTHP did not have the expertise to fulfill its obligations per said agreement from the onset and thus in my personal opinion it was a Sham transaction and Shenghou had to find a replacement - Thus SMI. Shenghou getting to keeps - share fees that GTHP gets from SMI.
RED FLAG GTHP DIRECTORS EFFECTIVELY WAIVED CONFLICT OF INTEREST PROVISIONS OF GTHP'S CODE OF ETHICS
THIS SOUNDS LIKE TURNING A BLIND EYE TO UNETHICAL - CONFLICT OF INTEREST BEHAVIOR BY FAUPEL AND BLUMBERG
What is MOST INTERESTING about GETS posting of 8k item is that in referencing the fee splitting agreement is: GTHP (disinterested Directors "effectively waived the conflict-of-interest provisions of the Company’s code of ethics." "On January 15, 2017, each of the disinterested directors on the Company’s Board of Directors, having considered the interests of Dr. Faupel and Mr. Blumberg and having approved the agreement, effectively waived the conflict-of-interest provisions of the Company’s code of ethics." THIS LOOKS LIKE A RED FLAG TO ME
I will again say that Shenghou LLC the original License Agreement Holder was a sham transaction, as Shenghou did not have the expertise to fulfill its obligation under the same, and perhaps it is a self directed dealing of GTHP assets - Splitting GTHP fees to insiders Faupel and Blumberg who are owners in Shenghou., LLC. and perhaps GTHP effectively waived its conflict of interests code to allow Faupel and Blumberg to receive compensation at the expense of the shareholders of GTHP, without having to disclose this as compensation to these two insiders at GTHP. I would call this turning a blind eye.
I was clearly saying non-disclosure in response to your posting of Item 13 from a 10k. And I explained further even after my retraction why I still view this as an inadequate - thus non disclosure in case you missed that.
GET: Item 13 which you posted:
Is 100% absent any disclosure that GTHP has to share fees it receives from SMI,(with Shenghou, LLC) which implies GTHP is retaining all these fees, this is a half truth and misrepresentation and thus in my viewpoint a non disclosure. I will leave it at that and I have never had a problem with you individually.
GET: Item 13 which you posted:
Is 100% absent any disclosure that GTHP has to share fees it receives from SMI,(with Shenghou, LLC) which implies GTHP is retaining all these fees, this is a half truth and misrepresentation and thus in my viewpoint a non disclosure. I will leave it at that and I have never had a problem with you individually.
GET
Thanks for bringing this to my attention that this was mentioned in a 8k, which I never saw or knew about until you posted it, this can be said for other investors as well whom did not know about the GTHP - Shenghou fee split agreement. So I hereby immediately RETRACT MY COMMENT OF NON DISCLOSURE.
THE ITEM 13 YOU QUOTED:
13. SUBSEQUENT EVENTS
On February 17, 2024, the Company entered into a fourth amendment to the agreement with SMI. Under the terms of the amended agreement, SMI also agreed to pay the Company $531,100 on or prior to March 15, 2024. MAKES IT SOUND LIKE GTHP GETS ALL THESE FESS AND DOES NOT REFERENCE THAT THESE FEES ARE TO BE SHARED WITH SHENGHOU LLC , so perhaps this is misleading by not referencing again a fee spliting arrangement that most investors like yourself were unaware of.
What is MOST INTERESTING about your posting referencing the fee splitting agreement is: GTHP (disinterested Directors "effectively waived the conflict-of-interest provisions of the Company’s code of ethics." "On January 15, 2017, each of the disinterested directors on the Company’s Board of Directors, having considered the interests of Dr. Faupel and Mr. Blumberg and having approved the agreement, effectively waived the conflict-of-interest provisions of the Company’s code of ethics." THIS LOOKS LIKE A RED FLAG TO ME
I will again say that Shenghou LLC the original License Agreement Holder was a sham transaction, as Shenghou did not have the expertise to fulfill its obligation under the same, and perhaps it is a self directed dealing of GTHP assets - Splitting GTHP fees to insiders Faupel and Blumberg who are owners in Shenghou., LLC. and perhaps GTHP effectively waived its conflict of interests code to allow Faupel and Blumberg to receive compensation at the expense of the shareholders of GTHP, without having to disclose this as compensation to these two insiders at GTHP. I would call this turning a blind eye.
Have your attorney send Mark Faupel a certified letter requesting that he disclose to you the terms of the agreement whereby GTHP has to share SMI revenue with the prior License Holder Shenghou, LLC. It should cost you less than 500 bucks. I will reimburse you for the same.
GIUL LLC law suit vs Mark Faupel, CEO of GTHP and Richard P. Blumberg, Director of GTHP, has been completed.
The Judge in the case is also acting as Jury and will fully decide the matter now pending and awaiting his ruling decision.
GIUL LLC in its submission of finding of facts claims Richard P. Blumberg told numerous lies when he testified under oath on the stand. Should the superior court trial judge agree on this issue that Blumberg committed perjury when he testified under oath - GIUL LLC will file a complaint with the SEC against Blumberg.
GTHP has a NON DISCLOSED AGREEMENT where GTHP has to share revenue from SMI with the previous License Holder Shenghou LLC, now know as K2, of which Richard Blumberg, now a board of Director Member of GTHP,, - Blumberg is also a manager of K2 and owns a portions of K2.
Again, I view this as self dealing assets of GTHP by insiders to themselves Blumberg and Mark Faupel also an owner of K2 (Faupel at one point was also a manager of K2). P
erhaps Faupel and Blumberg will be sued here by Shareholder of GTHP for self dealing assets - cash flow owed GTHP by SMI to an entity both Blumberg and Faupel are owners of at the expense to GTHP Shareholders?
GET you labeled it as Non Disclosure of the Royalty type payment arrangement GTI has with Shenghou Medical LLC now know as K2 an entity owned by Faupel and Blumberg.
Also, I stated Faupel and Blumberg are being sued for engaging in unfair and deceptive trade practices in MA, and I stated as part of that is the allegations of numerous non disclosures by them to GIUL in seeking funding via a loan from GIUL.
Previously stated Shenghou Medical LLC now know as K2 did not have the expertise to full fill the terms of the original licensing agreement and I asked a question to be pondered on by GTI Shareholders why would GTI enter into what I my humble opinion my mere humble opinion was a SHAM transaction Licensing Agreement. Sham (noun) a thing that is not what it is purported to be; (adjective) bogus; false; (verb) falsely presented something as the truth;
So in my opinion, solely my opinion Faupel and Blumberg setup and entity to enter into a SHAM licensing agreement with GTI to strip out (a cash flow economic beneficial royalty type payment interest to themselves - where they in fact received monies from GTI which were paid over to Shenghou Medical, LLC now know a K2.
In my opinion solely in my opinion this sounds like self dealing benefiting Faupel and Blumberg at the expense of GTI Shareholders, I am in fact a shareholder of GTI. The only share holder who knows this and has all the facts and paper trail. You can label as you see fit. I would say the Shareholders have an civil action against GTI and others.
Get should I ask if your name is slick Rick Richard P. Blumberg and his stock marketing business or Mark Faupel CEO President, as my deceased dad would say dirty water seeks its own level. Plus the real scam is GTHP technology is very old and countries like China ect. don t consider the current sound reliable way of testing that intrusive neither does any DR in the USA. Just letting the uninformed know. FYI, my mere opinion comes from a DR.
FYI, Giul LlC's attorney has outlined potential claims which GIUL LLC might file a lawsuit directly against GTI - GTHP or in the alternative Giul LlC might initiate a SEC complaint against Faupel and Blumberg.
Owed to Shenghou Medical, LLC now k2 on what you called a non disclosed royalty type payment agreement, and by coincidence upper managers of GTHP are being sued by GIUL for non disclosures which are a significant part of GIUL's unfair and deceptive trade practices law suit against Mark Fauple now President and CEO and Richard Blumberg Director at GTHP.
In the Summary Judgment decision the Superior Court Judge acknowledged that Giul, LLC's monies were paid to GTHP, by Shenghou Medical LLC.
Get my offer still stands:
GetSerious just have your attorney send Mark Faupel and Richard Blumberg a certified letter inquiring which it was, I will pay your legal bill and then you will know i was only referring to your facts not being correct.. I have no problem with you on a personal level and when you come to realize what I am saying is true maybe you will spear head and SEC complaint for non disclosures.
Perhaps they will not produce the royalties type agreement whereby Shenghou Medical LlC did in fact receive monies from the monies GTHP was paid from SMI, and the shareholders of GTHP will have additional claims or a beef for an SEC Complaint for non disclosures.
Giul LlC's law suit for their engaging in unfair and deceptive trade practices covers Mark Faupel and Richard Blumberg not making adequate disclosures, on in particular is that they did not disclose that Shenghou Medical, LLC did not have the expertise to satisfy its licensing agreement requirements with GTHP. So why was that agreement granted by GTHP to Shenghou Medical, LLC which had no expertise and was Managed by Blumberg, and Blumberg and Faupel had ownership interests in Shenghou Medical, LLC.
2) ALLEDGES that: Mr. Blumberg, Esq., as an attorney is an officer of the court in Washington State and is held to a higher standard, and attorney Blumberg, under the pains and penalties of perjury gave his deposition testimony, (as a defendant in Civil Litigation, in Massachusetts Superior Court, GIUL, LLC vs Richard P. Blumberg), in which attorney Blumberg lied and made numerous false statements, specifically stating that he attorney Blumberg a Stanford Law Graduate, did not know the plain English definition and meaning of the word “THEY” or its context use, in an email where it was clearly being used to refence “they” the potential investor (GIUL, LLC) was a lender and had lender status. In said deposition it was proven that attorney Blumberg was in fact the original author of said email containing the word “THEY” to describe the potential investor as a lender having lender status.
It is also alleged that attorney Blumberg made numerous other false statements and misrepresentation to the manager of GIUL, LLC, Plaintiff, in Plaintiff’ s ordinary business dealings with attorney Blumberg, as manager of Shenghou Medical LLC now known as “K2”.
3) ALLEDGES that: Mr. Blumberg, Esq., as Manager of Shenghou Medical, LLC, the receiver of GIUL, LLC Plaintiff’s funds, controlled Shenghou’s Bank accounts and received from GIUL’s fund in fundraising via the Federal Wire System. It is alleged based on the below, that attorney Blumberg committed Federal Wire Fraud against the plaintiff GIUL, LLC.
A retired attorney has filed a complaint against attorney Richard Paul Blumberg, now a Director of Guided Therapeutics, Inc (“GTI”), ticker symbol: GTHP, to revoke Blumberg’s license to practice law in Washington State.
Press release: 12-5-23, 12:45 PM ET Legal Newswire POWERED BY LAW.COM
The filed disbarment complaint against attorney Richard Paul Blumberg is based on:
1) Mr. Blumberg, Esq., in connection with fundraising, engaged in conduct that violated Massachusetts securities laws, Massachusetts law barring unfair and deceptive trade practices, and Massachusetts law against conspiracy.
Messrs. Mark L. Faupel, now President and Chief Executive Officer of GTI GTHP, as well as Richard P. Blumberg, Esq., an attorney from the Seattle, Washington area, Blumberg now a Director of GTI GTHP, and Blumberg, Esq., and the other defendants brought a motion for summary judgment to try and end GIUL’s claims against them without trial. A judge of the Massachusetts Superior Court has now ruled denying the motion for summary judgment as to the securities claim, the unfair and deceptive trade practice claim, and the conspiracy claim and permitted these three claims to go to trial.
SMI was promising to pay $1 Million so they got what they wanted a New Direct Licensing Agreement with GTHP.
Shenghou Medical LLC now know as K2 to relinquish and give up their contractual rights under the original Licensing Agreement got a Royalty Type payment arrangement either in the form of their Existing Original Licensing Agreement being amended or Shenghou Medical LLC, now K2 getting an new Royalty Type Payment Agreement (I cannot remember which form).
I will state under the pains and penalties of perjury that when SMI paid monies to GTHP, GTHP then subsequently as required in their agreement with Shenghou Medical LLC, now K2 did in fact receive royalty type payments from GTHP which GTHP was required to pay the same per its agreement with Shenghou Medical, LLC now K2.
GetSerious just have your attorney send Mark Faupel and Richard Blumberg a certified letter inquiring which it was, I will pay your legal bill and then you will know i was only referring to your facts not being correct.. I have no problem with you on a personal level and when you come to realize what I am saying is true maybe you will spear head and SEC complaint for non disclosures.
Shenghou Medical, LLC shareholders have always been comprised of Richard Blumber, who has also always been its manager, and Mark Faupel, who has always been a shareholder and at one point in time also a manager. Shenghou Medical LLC, now know as K2 had the original license with GTHP, despite having no expertise to satisfy its obligation to perform the same so it found SMI to enter into a new arrangement with GTHP. Because Shanghou Medical LLC gave up contractual rights it received a royalty interest from any monies GTHP would receive from SMI. GTHP did in fact receive monies from SMI and subsequently GTHP then did in fact paid a portion of the monies it received out to Shenghou Medical LLL now know as K2. GTHP is contractually obligate to pay Shenghou Medical, LLC now as "K2" royalty type payments on any monies GTHP receives from SMI.
I am not responsible for others failures to make required SEC disclosures.
I am a shareholder of GTHP so perhaps you are right with voicing shareholder concerns for non disclosures and any ramifications for the such non disclosures if that proves to be the case.
SMI owed GTHP $1 Million and SMI only made partial payments on this (Mark Faupel and Richard Blumberg refused to provide me with the full amount of payments made by SMI to GTHP) SMI did not pay the full $1 Million amount to GTHP, and out of the monies GTHP did in fact receive, GTHP subsequently made payments to Shenghou Medical LLC, now know as K2, as GTHP is obligated to do the same as I have stated.
If you say such should have been disclosed and was not, is that a big surprise to you given that Mark Faupel and Richard Blumberg are each individually being sued in Massachusetts for unfair and deceptive trade practices in Massachusetts for conduct they engaged in against one of the share holder owners, GIUL, LLC in Shenghou Medical, LLC. That lawsuit on it own should speak for its self. I am not going to continue to engage with your misconception which you have based your opinion on.
Additional FACTS, SMI did pay some of the $1 million to GTHP and out those monies GTHP DID IN FACT MAKE CORRESPONDING PAYMENTS TO Shenghou Medical, LLC now know as K2, at one time Faupel was both an owner and manager of this entity now he is only an owner, at all times Richard Blumberg has been both an owner and manager of Shenghou Medical, LLC now know as K2.
That Shenghou is the original license holder with GTHP and because Shenghou had no expertise to satisfy its obligation under the same, Shenghou had to find a substitute like SMI. SMI became a new Licensee and substituted into a New Licensing Agreement between SMI and GTHP, under which SMI was to pay GTHP $ I million which it never fully paid. Because Shenghou Medical, LLC (now K2) gave up rights it became untitled to receive and participate in fees SMI is obligated to pay to GTHP,.
When and if GTHP collects fees under its agreement with SMI, GTHP is obligated to share fees with Shenghou Medical, LLC now K2, which Richard Blumberg is both a manager and owner in K2. Mark Faupel at one time was both a manager and owner in K2, now Faupel is just an owner in K2.
GTHP is obligated to share fees (it receives from SMI) with Shenghou Medical, LLC now K2. Those are undisputed facts.
IF SMI pays, GTHP, then in turn GTHP has to pay some monies out to Shenghou, LLC now know as "K2" the original license holder.
More importantly Shenghou, LLC now K2 did not have the expertise to satisfy the terms of the original license agreement with GTHP (so why would that agreement have been entered into?) and Shenghou now K2 had to find a substitute like SMI or else Shenghou LLC (now K2) would loose the License Agreement with GTHP.
The really fishy smell here is that both Mark Faupel and Richard Blumberg are owners of Shenghou LLC (now K2). I will leave it at that for now!
Mark Faupel never made SMI pay the full $1 Million that GTHP was owed by SMI. That was revealed in GIUL deposition of Mark Faupel and Richard Blumberg.
Oh I thought China was and open book and always told the truth about everything?
Will the SEC investigate Fund Raising Activities and Conduct by President & CEO Mark Faupel and Director, Attorney Richard Paul Blumberg at and inside the GTI/GTHP level from its last $3 million dollar raise?
Perhaps such an investigation by the SEC will be initiated. The manager of GIUL, LLC a retired attorney, who is also a shareholder in GTI/GTHP is considering the same.
Myjog:
GIUL, LLC is suing individually Mark Faupel and Attorney, Richard P. Blumberg individual for unfair and deceptive trade practices in their fund raising activities against GIUL, LLC for funds GIUL, LLC provided to Shenghou which were almost immediately lent to GTI/ GTHP.
Legal Definition of Deceptive - Deceit
A fraudulent and cheating misrepresentation, artifice, or device, used by
one or more persons to deceive and trick another, who is ignorant of the true facts, to
the prejudice and damage of the party imposed upon. People v. Chadwick, 143 Cal.
110, 70 Pac. 884; Reynolds v. Palmer (C. C.) 21 Fed. 433; French v. Vining, 102 Mass.
132, 3 Am. Rep. 440; Swift v. Rounds, 19 R. I. 527, 35 Atl. 45. 33 L. R. A. 561, 61 Am.
St. Rep. 791 ; In re Post, 54 Ilun, 634, 7 N. Y. Supp. 438; Civ. Code Mont. 1895,
Plaintiff Giul, LLC Wired Funds into Shenghou, LLC based on Faupel and Attorney Richard Paul Blumbergs fund raising conduct on behalf of Shenghou as outlined in GIUL, LLC' s amended complaint.
Given that Funds Were Wired Into an Account Director Blumberg Controlled,- I believe there might be POSSIBLE undertones of Federal Wire Fraud in this matter.
MyJog:
Faupel, President and CEO and one director, Attorney Richard Paul Blumberg are being sued Individual for engaging in unfair and deceptive trade practices in Massachusetts in relation to raising funds from Plaintiff, GIUL LLC, which were subsequently and immediately sent and lent to GTI/GTHP.
Did you miss that part of the Press Release?
WOW a trade of less than $300.00;
If they could not get approvals during relaxed Trump presidency - Who is confident now that they can?
I know what Gene is, I have dealt with him and I am glad that he is gone.
I disagree with you but will keep my personal opinions of Gene to myself.
In speculation, however, maybe Gene's Resignation was based on his wanting to cut off ties with Faupel and Blumberg - only Gene could answer to that and I would not necessarily accept Gene's answer.
GIUL, LLC 9-19-2023 Press Release:
SEE POST BELOW From: GetSerious 10/05/23 5:52 PM
The law Suit by GIUL, LLC is against Mark L. Faupel, and attorney Blumberg , both individually, for Massachusetts securities violations among other things in connection with funds GIUL first provided to a company called Shenghuo Medical, LLC, which funds were lent to GTI.
GUIL, LLC, as Plaintiff, is also bring claims against Mr. Faupel and attorney Blumberg in connection with such fund raising activities for violations of the Massachusetts unfair and deceptive trade practices statute, and conspiracy.
GTI GTHP itself is not a party to the case and so there are no claims in the case against GTI.
Very interesting that Gene Cartwright, CEO GTHP, Resignation - came very shortly after the Massachusetts Superior Court Judge issued this summary judgement decision that the Plaintiff- GIUL, LLC, (which is managed by a retired attorney) could continue to proceed suing Mark L. Faupel, now President and Chief Executive Officer of GTI, as well as Richard P. Blumberg, Esq., an attorney from the Seattle, Washington area, Blumberg now a Director of GTI.
Birds of a Feather Flock Together!
I wonder who at GTHP got Auctus Fund Management to invest into GTHP?
Does anyone here know?
My speculative guess would be Richard Paul Blumberg, ESQ, Director GTHP, also ,Manager of Shenghou, LLC now know as "K2".