Propellus Inc (PRPS)

[EastCoastCdn]

Yes there are a couple of violations I see there.

I see another major violation. I said before there were regulations regarding buybacks.

In June 2012, the Company bought back 821,812 shares of common stock from these two officers as treasury stock with the short-term notes of $104,000 which accrue interest at 6.5 percent per annum with maturity dates of less than 1 year. The accrued interest on the related party payables was $3,096 and $178, for the six months ended June 30, 2012 and the year ended December 31, 2011, respectively.