I recommend we file suit against Alternative Fuel Technologies, Alternative Fuel Technology, Kathleen McCandless CEO and Kathleen McCandless personally.
Securities and Exchange Commission
SEC Center for Complaints and Enforcement
100 F Street NE,
Washington, D.C. 20549-5990.
RE: SEC Violations: Alternative Fuel Technology, Alternative Fuel Technologies, Ms. Kathleen McCandless, CEO
Dear Sir or Madam;
Attached are Complaint and Exhibits relating to violations of SEC Regulations by the above referenced Parties..
I am filing the attached Complaint at the request of a number of investors who are members of the iHub message board
Please feel free to contact me with any questions or concerns.
Sincerely,
Luna Tic, J.D.
enc, Complaint w/attachments
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United States Securities and Exchange Commission
Complaint
Alternative Fuel Technologies, Inc.
1350 Buckingham
Grosse Pointe Park, MI 48239
Tell # 313-877-0932
&
Alternative Fuel Technology, LLC
1350 Buckingham
Grosse Pointe Park, MI 48239
Tell # 313-877-0932
&
Ms. Kathleen A. McCandless as
President and Director
Alternative Fuel Technology, LLC
1350 Buckingham
Grosse Pointe Park, MI 48239
Tell # 313-877-0932
&
Ms. Kathleen A. McCandless as
Contracts Administrator, Office Manager
Alternative Fuel Technology, LLC
1350 Buckingham
Grosse Pointe Park, MI 48239
Tell # 313-877-0932
&
Ms. Kathleen A. McCandless Individually
1350 Buckingham
Grosse Pointe Park, MI 48239
Tell # 313-877-0932
Complaints and S.E.C. Violations:
Fraud.
1. Claim of a Government contract through 2014. Contract expired exactly one year earlier in 2013. Exhibit #3
2. Failure to report to Shareholders, the death of CEO, founder, senior engineer and inventor, James Mr. McCandless. Mr. McCandless’ death was discovered by accident by a Shareholder, months after his death. The only notice of his death was in a brief obituary, appearing in a small town local newspaper. This was an obvious attempt at keeping his death a virtual secret from the general public, and more specifically, shareholders.
3. For more than a year after the death of Mr. McCandless, the former Founder, CEO, and principal inventor, the Company website still exhibited his profile and picture, claiming he was the current CEO. It was only after the Company was sent an (unanswered) email threatening to report the misinformation to S.E.C., that it was corrected and updated.
4. Ms. McCandless alternates between calling the Company, “Alternate Fuel Technologies, LLC”, and, “Alternative Fuel Technology, Inc.”
5. In 2013, I tried for weeks to contact the Attorney of Record and ultimately discovered that the listed Attorney of Record had not been their Attorney for several years. Ms. McCandless refuses to respond to requests for the current Attorney.
6. For more than a year, telephone calls to the Company have gone to an answering machine. Not one Stockholder’s call has ever been returned. Emails are not being answered, and sales@altfueltechnology.com is being bounced back as undeliverable. kathy@altfueltechnology.com and investors@altfueltechnology.com are delivered, but unanswered.
Over the past six+ months, there have been more than one hundred (100) requests for basic information via email or telephone. Emails are not responded to, and telephone calls go to voice mail and are not returned. The few responses we did receive were simply excuses. Some of her excuses are:
i. People are mean to me.
ii. The website has been hacked and we are afraid that secret information will be divulged.
iii. We (AFT) are under a gag order by our customers
iv. Everything we do is “Secret”.
We have suggested that general information, including redacted financials, etc., be posted on a social network which would circumvent the website; she has refused.
We have asked for a financial statement per her August 15th 2014 agreement with Stockholders; she has refused.
We have asked for general information updates; she has refused.
Violations of Fiduciary Duties and actions against Stockholders’ interests
Ms. McCandless is the LLC Manager and sole keeper and maker of Contracts since the Company’s inception. When Mr. McCandless died, Ms. McCandless became the secret CEO until accidentally and fortuitously discovered by Shareholders.
This is a small Co. with loyal shareholders many of whom have held shares for more than five years. We are not flippers nor traders. We are long-term investors with no voting rights. Ms. McCandless owns only preferred shares. She has both directly and indirectly stated that she has no interest in the Shareholders when she stated that the Company doesn’t make any money when share price rise and are sold in the secondary market.
Stockholders have watched the share price steadily decline from $0.004 to $0.0007 due to; a.) Lack of information; and b.) Otcmarkets has placed a, “Stop sign” designation on the stock due to the Company’s refuses to be forthcoming. No reasonable investor will touch AFTC.
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This was filed Friday... perfect timing I guess
