Friday, May 23, 2014 10:02:31 PM
My email : Can you share some information regarding the suspension and what you guys have been working on today? Like for example what are the concerns of the SEC and how are you guys handling the situation. Also, would the disclosed company still be interested in purchasing the company since now it is suspended?
Toms response :
"I appreciate your email and willingness to reach out to us to get some answers. While we were not made aware of the suspension prior to the SEC, we did speak to them today after the suspension occurred to find out what had occurred. We were advised that our press releases raised concerns because they do not offer specific names. We were clear that larger companies often do not allow smaller companies to pit their names in the press. Further, it has happened all to often to us that once you place names in a release, a shareholder with a $5 stake in the company calls the named individual to see if they are real and what non-public information can they get.
Yes, we are operational and are continuing to operate business as usual. Yes, the LOI is still proceeded with a May 30 due diligence deadline.
The SEC asked us for contractual verification on three of our outstanding agreement which were announced to the public. We provided all requested I formation at 2:45pm today.
I hope this helps shed some light on this very upsetting event.
Tom"
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