7. In 2009, LANGENBACH purchased 10,000,000 shares of PAC stock from a large PAC shareholder and “representative” (the “PAC Insider”)
for approximately $.0 1 per share.
LANGENBACH acquired this PAC stock from the PAC Insider for the sole purpose of reselling it to raise money, in part, to fund his real estate business operations discussed further below.
[...]
9. From on or about August 2009 to October 2009, LANGENBACH sold ipproximately 2,399,150 shares of the PAC stock that he acquired from the PAC Insider
for approximately $.20 per share
for a total offering of $474,030 to 187 investors.
