The Golden Lounge

[Stock]

AMTD collabroated with Robert W. Pearce. They smokem peace pipe. Pearce skated. The Corporate Secretary paid (what was it?) $165k.

They have a history of collaborating with slimeball lawyers:

"...Robert W. Pearce, the company's Chief Executive Officer, issued the following comment: "We have worked very hard to craft a solution to the market liquidity problem that will permit all participants to settle the transactions in which they engaged. We want to thank the members of the brokerage community and our shareholders for their patience. We also want to thank those members of the brokerage community who provided very constructive assistance to us while we formulated our restructuring plan..."

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"...On the basis of this Order and Respondent’s Offer, the Commission finds that:

1. Peter D. Kirschner (“Kirschner”), age 40, is a Palm Beach County, Florida resident. From June 1989 to January 2004, Kirschner was a registered representative associated with multiple broker-dealers registered with the Commission. At various times, Kirschner has held Series 7, Series 24 and Series 63 licenses. During the relevant time, Kirschner was associated with an unregistered broker-dealer.

2. On August 8, 2006, a final judgment was entered by consent against Kirschner, permanently enjoining him from future violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 (“Securities Act”) and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. Peter D. Kirschner and Media Magic, Inc., Civil Action Number 06-1403RMU, in the United States District Court for the District of Columbia. Kirschner was directed to disgorge $109,400 in ill-gotten gains plus pre-judgment interest, and ordered to pay a $55,000 civil money penalty pursuant to Section 20(d) of the Securities Act and Section 21(d)(3) of the Exchange Act.

3. The Commission’s complaint alleged that Kirschner, while representing a small, privately held company, was directly involved in planning a series of transactions to effect a reverse merger of that company into GLUV Corp., and, in the process, acquired control of the public float of the newly merged entity. The Commission alleged that during the later stages of the reverse merger, Kirschner arranged for GLUV Corp.’s transfer agent to issue him 3,000,000 dividend shares in advance of the date upon which the public was informed that those shares would be issued, and then deposited a portion of the shares into a brokerage account. The complaint alleged that the fact that the post-dividend shares had been issued and deposited prematurely into Kirschner’s brokerage account—thereby making them tradable—was a piece of information that was critically important to any market participant attempting to arrive at an appropriate valuation for the company’s shares. The complaint alleged that this was also information that was only known by Kirschner. The complaint alleged that just prior to the time at which the official dividend was to occur, Kirschner sold 19,500 of these prematurely-received, post-dividend shares to unwitting market participants at prices ranging from $5.50 to $7.95 per share, realizing proceeds of $139,400. According to the complaint, had Kirschner sold the same quantity of shares hours later, he would have realized gross proceeds of less than $20, as these shares were then trading at less than a penny, reflecting the adjustment by the market to the issuance of the 2,999,999:1 dividend."

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