I think the SEC needs to step in and investigate the CEO for [a] stock manipulation, and {b] failure to file 8K to advise investors of material changing events.
This pump and dump is a de javu of the exact same scenario last year where the share price plummetted from 0.14 to 0.0001 in matter of months while the OS increased from 58 million to 2.2 billion.
The CEO is notorious for these pump & dump plays!
email from Sept 2010
Re: Concerns Over APCX
From:
willliam ottens <weottens@gmail.com>
Add to Contacts
To: Tom Brown <b.tom40@yahoo.com>
Dear Mr. Brown:
Thank you for your email and for expressing your concerns. Please be aware that I took the
measure of issuing additional shares because it was a means to be able to raise cash for
the company. I am aware that taking this measure would be painful for all shareholders but if Apptech did not raise cash, it was not going anywhere. We are now beginning to raise cash
and we are developing smartphone applications that will be part of our core operations. I do believe that our share price will begin a steady improvement as we release the apps which will generate revienue.
Regarding our second quarter financials, I am expecting that they will be released within the next 10 days and thereafter we will report on a timely basis. Please feel free to contact me at anytime. My cell phone number is: 832-655-5991.
Thank you and best regards...
Eric Ottens
On Wed, Sep 8, 2010 at 6:09 AM, Tom Brown <b.tom40@yahoo.com> wrote:
Dear Eric:
As an APCX investor, I would like to express my concern with the way APCX has managed its share structure. Last month, APCX restructured its Outstanding Shares (O/S) massively. It increased O/S to 2.22 billion shares, from 58 million shares. But APCX shareholders have been kept in the dark, as there has been no filing with the SEC to declare at what price-per-share those 2.22 billion shares were issued, who was the party/s receiving those shares, and more importantly, what was the purpose of the share increase. This type of information falls under "Other Materially Important Events", per SEC, and requires 8k filing. Another concern of mine is APCX has not filed its quarterly report, 10Q, with the SEC, nor it has filed why it has not done so, even after the end of the 45-day deadline to file such form.
I hope my concerns about APCX share structure and SEC filing are addressed ASAP to achieve transparency.
Many Thanks In Advance,
B. Tom
