Mr. Gunderson Acted At All Times in “Good Faith” Under
The Statutorily Imbued Immunities of the United States Bankruptcy Code
With Respect to the Temporary Suspension
Mr. Gunderson, as General Counsel, is protected from temporary suspension by the statutorily imbued immunities of the United States Bankruptcy Code, 11 U.S.C. Secs. 101 et seq., which immunities were specifically provided in great detail by the Bankruptcy Court in the Company’s Reorganization Plan and Disclosure Statement. These powers, positions and immunities were directed by the Bankruptcy under the Bankruptcy Code.
The SEC continued contumacious denial of the Company’s and the President’s and Mr. Gunderson’s position and rights under the Bankruptcy Code and the rulings of the Bankruptcy Court would have been dealt with harshly by that Court if the SEC had, as they were permitted to do, appeared in those proceedings. The SEC had full knowledge of the proceedings and failed to appear. Once they so failed, they are estopped from proceeding against adversely against the President, Mr. Gunderson or other employees on matters specifically provided by the Reorganization Plan of the Company as approved by the Bankruptcy Court, including the issuance of shares to advisors and consultants under the Stock Option Agreement (also referred to in the Reorganization Plan as the Stock Incentive Plan, the functional equivalent of an S-8 registration, filed initially with the SEC and many times thereafter, in such amounts as are necessary to match the daily recapitalization of the Company caused by the billions of unregistered, counterfeit and phantom shares permitted by the SEC to be issued by the naked shorters in the name of the Company, but for which the Company received no consideration.
The Company, its President and Mr. Gunderson, as General Counsel, had at all times acted in good faith reliance on the orders of the Bankruptcy Court, the long-term provisions of the Reorganization Plan, confirmed by the Bankruptcy Court and the immunities provided to the Company, its officers and employees under the Bankruptcy Code.
Mr. Gunderson, as General Counsel of the Company for over 12 years, provided the Denver office of the SEC with copies of the reorganization documents in response to their second subpoena for share-issuance documents. They chose to ignore this and chose to charge the Company for unregistered shares, when in fact such shares were and have been properly issued and registered.
On April 21, 2006, Mr. Gunderson testified at his continued deposition conducted by attorneys for the SEC extensively concerning the Company’s Reorganization Plan and the included Stock Incentive Plan. To stunned silence and no cross examination by the SEC attorneys, Mr. Gunderson described those documents, placed in evidence each such document constituting the functional equivalent to the S-8 registration, placed into evidence copies of the immunity from suit provisions of the Bankruptcy Code and the daily recapitalization of the Company caused by the naked shorting of its shares over the years and the clear right of the Company to cover those counterfeit and unregistered shares by shares properly issued by the Company under its Reorganization Plan and the provisions of the Bankruptcy Code.
The Company, its President and its General Counsel, Mr. Gunderson, have acted properly and in good faith. The SEC has acted without good faith in its attack on the Company, its President and its General Counsel. It has acted to destroy the principal whistleblower on naked shorting to cover its conflicted behavior as a regulator charged with protecting investors, but favoring instead Wall Street interests destroying small American public companies, their employees and investors with their illegal activities for their own profit and greed.
