Peer To Peer Network (PTOP)

[DeltaWarrior]

SterVC: The old CEO was never convicted of any wrongdoing. He was not charged with a guilty verdict. Even within your post below, it is indicated by the lawyer that the case has not gone to trial and is unlikely to go to trial:

He has been found guilty of many things and the SEC has already said so in the Jan and Apr 17' litigation releases. I'm not just making stuff up either, and a LITTLE DD would go a long ways in learning of who Esposito is. Let me enlighten on who PTOPs Head of BIz Dev is from recent SEC litigation releases. Remember, what I am posting below is the results of the investigation so far, not the complaint.

After reading the below, how could any sophisticated investor surmise that Chris Esposito is a good Head of Biz dev for ANY COMPANY IN THE WORLD? No GOOD way to spin this, SORRY.

&& again I ask, why is NVSOS revoked? NO filings? Why is Esposito answering shareholders and not bento? Who would believe a word from Esposito after his previous fraudulent behavior? Lots of STRANGE things going on around PTOP.

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23730 / January 27, 2017
Securities and Exchange Commission v. Christopher R. Esposito, et al., Civil Action No. 16-CV-10960 (D. Mass. filed May 26, 2016)
SEC Obtains Final Judgments Against Medical Marijuana Industry Company and CEO for Involvement in Fraudulent Scheme

On January 27, 2017, the federal court in Boston, Massachusetts, entered final judgments against Cannabiz Mobile, a publicly traded company purportedly servicing businesses in the medical marijuana industry, and its sole officer and director, James Gondolfe. Among other things, the judgments order Gondolfe to pay a total of $266,681, and Cannabiz to pay a total of $786,694, and bar Gandolfe from serving as an officer or director of certain public companies or from participating in an offering of a penny stock.

In May 2016, the SEC charged Gondolfe and Cannabiz, both of Cambridge, Massachusetts, along with two other individual defendants and one other company defendant, for their roles in a scheme to defraud investors by concealing the ownership and control of Cannabiz by defendant Christopher Esposito of Topsfield, Massachusetts, in order to enrich themselves by facilitating the sale of hundreds of millions of shares of Cannabiz stock into the public market, in violation of SEC statutes and regulations. According to the SEC's complaint, between early 2014 and August 2015, Esposito, with Anthony Jay Pignatello of Manhattan Beach, California, concealed Esposito's de facto control of Cannabiz and a large percentage of Cannabiz's securities in order to profit by evading SEC Rule 144, which limits securities sales by affiliates, such as control persons. Esposito did this by, among other things, installing Gondolfe, as the sole officer and director of Cannabiz - even though Esposito secretly controlled the company - to make false statements in Cannabiz's public filings and other documents. Gondolfe's actions allowed Esposito to pay third-party stock promoters to tout Cannabiz stock in order to increase its stock price and trading volume, sell significant amounts of Cannabiz convertible debt to others for almost $304,000, and with Pignatello and Renee Galizio of Loxahatchee, Florida, sell millions of shares of Cannabiz stock directly into the public market.

The final judgments, which were entered by default by the Honorable Allison D. Burroughs of the United State District Court for the District of Massachusetts, enjoin Gondolfe and Cannabiz from future violations of Sections 5 and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The judgments also order Gondolfe to pay disgorgement and pre-judgment interest in the total amount of $106,681 plus a $160,000 civil penalty and Cannabiz to pay disgorgement and pre-judgment interest in the total amount of $11,694 plus a $775,000 civil penalty. Additionally, the final judgment against Gondolfe bars him from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act, and permanently bars him from participating in an offering of a penny stock.

The SEC's litigation in this matter continues against Esposito, Lionshare Ventures, LLC, Pignatello and Galizio.

The SEC's investigation was conducted by Scott R. Stanley, J. Lauchlan Wash, Mark Albers, Amy Gwiazda, and Michele Perillo of the SEC's Boston Regional Office. The SEC's litigation is being led by David London. The SEC appreciates the assistance of the Financial Industry Regulatory Authority (FINRA).

https://www.sec.gov/litigation/litreleases/2017/lr23730.htm

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23807 / April 14, 2017
Securities and Exchange Commission v. Christopher R. Esposito, et al., No. 16-CV-10960 (D. Mass. filed May 26, 2016)
Court Enters Final Judgment Against Microcap Industry Consulting Company Involved in Fraudulent Scheme

On April 14, 2017, a federal court in Boston, Massachusetts, entered a final default judgment in an ongoing SEC enforcement action against Lionshare Ventures, LLC, a Massachusetts-based privately-held corporation that the SEC alleges was a business incubator for microcap companies.

The SEC's complaint, filed in federal court in Boston, Massachusetts on May 26, 2016, charges Lionshare and its owner, Christopher Esposito, of Topsfield, Massachusetts, with allegedly raising more than $550,000 in investor funds in an unregistered offering of Lionshare securities and misappropriating $375,000 for his personal benefit. According to the SEC's complaint, Esposito and Lionshare raised the funds from investors between June 2011 and June 2012, spending almost $300,000 of investor funds for personal expenses, and using $75,000 of investor funds to acquire control of a Massachusetts-based publicly-traded company, Cannabiz Mobile, Inc., by purchasing all of its convertible debt. The SEC's complaint further alleged that, between May 2012 and August 2015, Esposito and Lionshare, together with Anthony Jay Pignatello of Manhattan Beach, California, concealed Esposito and Lionshare's de facto control of Cannabiz and a large percentage of Cannabiz's securities in order to profit by evading SEC Rule 144, which limits securities sales by affiliates, such as control persons. Esposito and Lionshare allegedly did this by, among other things, installing James Gondolfe as the sole officer and director of Cannabiz - even though Esposito secretly controlled the company - to make false statements in Cannabiz's public filings and other documents. Esposito paid third-party stock promoters to tout Cannabiz stock in order to increase its stock price and trading volume; he sold significant amounts of Cannabiz convertible debt to others for almost $304,000; and with Pignatello and Renee Galizio of Loxahatchee, Florida, sold millions of shares of Cannabiz stock directly into the public market.

The final default judgment, which was entered by the Honorable Allison D. Burroughs of the U.S. District Court for the District of Massachusetts, enjoins Lionshare from future violations of Sections 5 and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The judgment also orders Lionshare to pay disgorgement and pre-judgment interest in the total amount of $1,107,413 plus a $775,000 civil penalty. The court previously entered final default judgments against Gondolfe and Cannabiz on January 27, 2017. The SEC's litigation in this matter continues against Esposito, Pignatello and Galizio.



https://www.sec.gov/litigation/litreleases/2017/lr23807.htm