Wednesday, February 01, 2012 8:43:00 PM
Mr. Roth observed, "This full compliance will not result in the release of the DTC Global Lock, since that resulted from the trading activity, not the actions of the Company or its officers. The Company and its counsel are continuing to explore all avenues to discover and understand the methods required to encourage the DTC reconsider its actions and to lift the Global Lock. There is no way to tell if and when that may occur."
George Roth, President of Smokefree Innotec, Inc. (OTC Pink: SFIO) announced today that the Complaint filed by the Securities and Exchange Commission against the Company in the matter of the involvement of its former CEO, Thomas Schroepfer in fraudulent securities transactions in July 2009, has been settled today with the entry of a Judgment Of Permanent Injunction And Other Relief As To Defendant Smokefree Innotec, Inc., consented to by Smokefree without admitting or denying the allegations of the Complaint. (Case 0:11-cv-61454-CMA Document 16 Entered on FLSD Docket 09/20/2011). Further information will be posted on the Smokefree's website in the near future regarding management's actions with respect to this matter. The filing of this Judgment allows the corporation to finalize and proceed with certainty its long awaited disclosure filings with the Pink Sheets and the DTC for the benefit of its shareholders, who have been severely hampered in capitalizing on the value of their holdings in the market since the initial publication of the Complaints on June 30, 2011 and the reactions of the DTC in stabilizing the market activity in the Company's stock.
Not to bad, we are dealing with the dtc monster! ;)
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