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Monday, April 07, 2008 10:35:38 AM
As you will see in the below post. The SEC does go after people that put out false PR's and do an illegal distribution of 504D shares of stock. Guess what. DPBM did both of these things and is under investigation by the SEC. So you are right, Credibility does mean something to the SEC too.
SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934 RELEASE NO. 57600 / April 2, 2008
SEC SUSPENDS TRADING IN THE SECURITIES OF THE ALTERNATIVE ENERGY TECHNOLOGY CENTER, INC.
The U.S. Securities and Exchange Commission today announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading in the securities of The Alternative Energy Technology Center, Inc., at 9:30 a.m. EDT, April 2, 2008, through 11:59 p.m. EDT, on April 15, 2008.
The Commission temporarily suspended trading in these securities because questions have arisen concerning the company’s reliance on Rule 504 of Regulation D of the Securities Act of 1933 in conducting a distribution of its securities, and the accuracy and adequacy of statements in the company’s press releases regarding its rights to certain technology. The Alternative Energy Technology Center, Inc., a company that has made no public filings with the Commission, is quoted on the Pink Sheets under the ticker symbol AETE, and has recently been the subject of spam e-mail touting the company’s shares.
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
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