AppSwarm Inc (SWRM)

[valuemanager]

Harry Masuda charged with security fraud

Steve -- You decided to believe in Mr. Masuda's integrity. I don't. May I suggest to look a little closer at this gentleman. His track record speaks against him. Furthermore, the SEC seeked to barr Mr. Masuda from acting as officer of any publicly traded company. At the moment, I don't know how this played out. However, this would explain why he can took the role of a consultant to SNWT. Will not barr him from receiving nice fees for his services.

See here:

http://www.zoominfo.com/people/Masuda_Harry_16665128.aspx

<<Mr. Masuda recently became the subject of securities fraud charges - see "PROPOSAL NO. 1 - - Indemnification">>

"Securities and Exchange Commission announced that they were bringing securities fraud charges against Mr. Masuda and us, for allegedly paying an unregistered broker"

http://www.sec.gov/litigation/litreleases/lr17659.htm

"The Securities and Exchange Commission today charged nine individuals and entities in connection with the fraudulent offer and sale of securities in three companies that develop medical devices and software for health care professionals."

"The defendants conducted these offerings between 1997 and 2000 and raised over $13 million from approximately 670 investors throughout the United States. The offerings were fraudulent because the defendants falsely stated that the funds would be used for business purposes when in fact a substantial portion of the offering proceeds went for undisclosed cash commissions to the persons who organized and conducted the offerings."

"barring Matson, Masuda and Braunberger from acting as an officer or director of any publicly traded company"