CYIOS Corporation (CYIO)

[gladeshawk]

$$*CYIO*$$ >>> Update on SEC most recent filing. This is interesting since it could indicate the case will end up in district court for a final ruling. I remain at 50-50 that CYIO gets a win AND $20 Million in damages. It's a long shot. HAWK

Comment from ALJ now reviewing the case (ALJ - James E. Grimes:

"Respondents move to dismiss the charge under Section 105(c)(7)(B) of the Sarbanes-Oxley Act based on the argument that it was previously dismissed. 31Given Respondents’ pro se status, I construe this argument to encompass the previously dismissed Securities Act Section 17(a)(2)charge as well. If this proceeding were in federal court, Respondents would likely prevail. Under Supreme Court precedent,an appellee must file a cross-appeal in order to “enlarge his own rights” or “lessen[]the rights of” an appellant.32In federal court, therefore, the Division’s failure to seek review of the initial decision would foreclose any argument on remand that the Sarbanes-Oxley Section 105(c)(7)(B)and Securities Act Section 17(a)(2)charges are still at issue.33"