urka,
All in my opinion,Every time the price starts going up, QUIN (Park Financial) shows up and sits on the ask and usually has no bid posted. QUIN showed up again yesterday after the increase from the day before.
Here is yaacov's response to my email.
I am really upset, making such big progresses in so many aspects, including two new products
released in the last 10 months and the share price is only going down!!! The value of the company
is very, very low,
By the way tell all the people on the boards that we the insiders including ALLIANCE we are not
active in the sale side!!!!!!
Maybe some body on the boards has some idea what to do, because I see good pr's, not effecting
positive the share price actually has a negative effect. This is one of the main reasons why I am
afraid to release more positive info, I am losing precious info, you can release it only once, I
hope you will agree with me.
Maybe some people on the board will have some connection with QUIN asking why he is doing this with
idta, maybe this will have some effect on him. I am not sure but I want to try all what is possible
to make the investors happy.
Yaacov
Also this is what I found about Park Financial,
SECURITIES AND EXCHANGE COMMISSION Washington D.C. Securities Exchange Act of 1934 Release No. 55614 / April 11, 2007 Admin. Proceeding File No. 3-12614 In the Matter of Park Financial Group, Inc. and Gordon C. Cantley The United States Securities and Exchange Commission (Commission) announced today that it issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) and 21C of the Securities Exchange Act of 1934 (Order) against Park Financial Group, Inc. (Park) and its principal, Gordon C. Cantley (Cantley). In the Order, the Division of Enforcement alleges that Park and Cantley aided and abetted and caused a pump-and-dump scheme involving the securities of Spear & Jackson, Inc. and failed to file Suspicious Activity Reports (SARs) reporting suspicious transactions, in violation of the firm’s record-keeping obligations. The Order alleges that the Commission has already obtained injunctive relief against Dennis P. Crowley (Crowley), the former chief executive officer of Spear & Jackson, for violations of the antifraud, registration and reporting provisions of the federal securitieslaws in connection with his role in the pump-and-dump scheme. Pursuant to a settlement, the court ordered Crowley to pay disgorgement and civil penalties in excess of $6 million and imposed an officer and director bar, penny stock bar and a Form S-8 stock bar that prohibits Crowley from owning or receiving S-8 issued securities. Crowley did not admit or deny the Commission’s allegations against him. The Order alleges that between February 2002 and July 2003, Park, a registered broker-dealer with a disciplinary history, and Cantley executed numerous trades in Spear & Jackson stock for three companies located in the British Virgin Islands (BVI Companies), which Crowley secretly controlled, despite obvious red flags. Specifically, on several occasions, Crowley gave Park and Cantley sell orders for the BVI Companies’ accounts. Park and Cantley filled these orders even though each of these foreign-based accounts, which were rare for Park, required the written approval of at least two authorized individuals before any transaction could occur, and Crowley was not an authorized signatory. Moreover, Park and Cantley executed Crowley’s trades knowing that he was the chief executive officer of Spear & Jackson; the BVI Companies’ accounts traded exclusively in Spear & Jackson stock, often buying and selling shares on a daily basis; the BVI Companies were transferring large amounts of Spear & Jackson stock to a stock promoter, which was actively promoting Spear & Jackson; and Spear & Jackson’s stock price was sharply increasing. During the relevant time period, Park and Cantley executed more than 200 trades in Spear & Jackson stock for the BVI Companies’ accounts, which generated approximately $2.5 million in proceeds.
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The Order also alleges that Park failed to report suspicious transactions in Spear & Jackson stock by filing SARs with the Financial Crimes Enforcement Network as required by regulations implementing the Bank Secrecy Act, as amended by the USA Patriot Act, which became effective December 31, 2002. A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide the Respondents an opportunity to dispute these allegations, and to determine what, if any, remedial sanctions are appropriate and in the public interest. The Order requires the Administrative Law Judge to issue an initial decision no later than 300 days from the date of service of the Order Instituting Proceedings.
