Denver, Colorado Gabor S. Acs, in a teleconference with the SEC on April 15th, 2004 agreed to all the claims made by the SEC in a Complaint dated August 26th, 2003. A final determination by the Nevada District Court in Reno as to the final judgement amount is anticipated before the end of April.
In a separate complaint filed electronically by Gabor on the same day with the United States Securities and Exchange Commission against several present and former Officers and Directors of Telynx, Inc., a publicly traded company listed on the Pink Sheets under the symbol TLXX, Mr. Acs alleges that several false and misleading statements were made in the most recent 8K filing made by certain persons who are now representing that they control the company.
The electronic response confirmed that the Division of Enforcement of the United States Securities and Exchange Commission has received the complaint.
Some of the text of the electronic response is quoted below:
"We are always interested in hearing from members of the public, and you may be assured that the matter you have raised is being given careful consideration in view of the Commission's overall enforcement responsibilities under the federal securities laws. It is, however, the Commission's policy to conduct its inquiries on a confidential basis.
The Commission conducts its investigations in this manner to preserve the integrity of its investigative process as well as to protect persons against whom unfounded charges may be made or where the Commission determines that enforcement action is not necessary or appropriate. Subject to the provisions of the Freedom of Information Act, the existence or non-existence of an investigation as well as information which may be gathered thereunder is not disclosed unless made a matter of public record in proceedings brought before the Commission or in the courts.
Should you have any additional information or questions pertaining to this matter, please feel free to communicate directly with the undersigned at 450 Fifth Street, N.W., Washington, D.C. 20549-0908 or via e-mail at enforcement@sec.gov. We appreciate your interest in the work of the Commission and its Division of Enforcement.
Mr. Acs was not available for further comment.
