Calypso Wireless (fka CLYW)

[sugarpea29]

SEC Investigation

"The Company has been notified of an SEC investigation relating to stock issued in connection with the consulting agreements, in particular certain transactions which led to the restatement further explained in note 10. The Company has provided the requested information and will continue to fully comply with all future requests. The Company believes the original omission of the disclosure of these agreements was an inadvertent omission because of the complexity of the accounting rules and has attempted to modify the system to avoid any such omissions in the future."

So, the SEC IS getting in on the act finally! Way to go SEC!

Hopefully this will lead to further investigation of this scam. Perhaps George Schilling, Mendoza, Davila, and others can join the many other corporate fraudsters already in prison.