Daniel C. Montano is a co-founder of our company and has been Chairman of the Board, President and Chief Executive Officer since 1998. In that role, he devotes approximately 40% of his business time to us. Mr. Montano is also currently the Chairman of the Board, President and Chief Executive Officer of Phage Biotechnology Corporation, an affiliated private biotechnology company which manufactures recombinant protein drugs and is our sole supplier of Cardio Vascu-Grow. From 1981 until 2004, he was also a member of the Board of Directors of Helen of Troy, Ltd; a corporation whose shares are publicly traded. In connection with matters that occurred in 1994, Mr. Montano agreed in 1997 to a settlement with the National Association of Securities Dealers, Inc. pursuant to which he was fined $102,500 and suspended by the NASD from associating with any NASD members for a period of two years. Mr. Montano consented to the findings that he had engaged in a course of conduct that resulted in the mishandling or misuse by his firm, Montano Securities Corporation, of funds entrusted to it by applicants to the company. Montano Securities Corporation was also found to have carried out securities transactions without maintaining sufficient net capital. In May 1998, the NASD suspended Mr. Montano’s registration as a registered securities broker for an unspecified time due to his failure to pay an arbitration award. In July 1998, the Securities and Exchange Commission entered an order affirming a decision by the NASD that Mr. Montano was found to have violated certain rules of the NASD, including not accurately and sufficiently discussing the mechanism of short-selling or the risks associated with implementing the strategy using a particular stock, making improper references to prior recommendations, making exaggerated and inappropriate presentations of prior recommendations and making improper projections.
I'll summarize some key phrases here.....
- Mr Montano was fined >$100,000
- Mr Daniel C Montano engaged in a course of conduct...resulting in
MISHANDLING funds entrusted by applicants
- Conducted Transactions without sufficient CAPITAL
- Suspended by NASD
- Failure to Pay Arbitration Award
- VIOLATED RULES OF NASD
- Making Exaggerated and Improper references and recommendations.
- Making Exaggerated and inappropriate presentations of recommendations
and projections.
Any of this sound familiar to how Dan treated the shareholders of VT, our investments and how he has conducted himself since leaving CVBT?
Any of this sound familiar to how Daniel C Montano seems to conduct business at Zhittya and with RMO?
