Seven Arts Entertainment Inc (SAPX)

[ICEVRE3]

Looks to me like 2 board members feel Mr. Hoffman is not in compliance with any of the internal control/audit procedures required by the Sarbanes Oxley Act, which was created to protect investors and creditors...makes sense. This guy is running a circus, not a business. The largest number on the Income Statement is "Interest Expense," lol! What a sham, this guy does belong locked up and should never be able to sit on a board or play any form of management role in any business. Internal Controls are put in place to prevent white-collar crime as it appears this guy makes a living off of (like so many others.) Hey Peter, just because you aren't savvy/ intelligent enough to create a product that people desire does not mean you should use your knowledge of law to STEAL from others. I don't necessarily believe in good/evil, but I do believe that if you can't connect with others, you manipulate them to get your way. These people are the reason we need laws in the first place, f-in monkeys with no morals or sense of justice.

I take full responsibility for this (paper) loss. After I write a very serious letter to my congressman, and federal regulators asking to audit and review Mr. Hoffman's business practice, I won't give any more thought to this scumbag.