Thursday, October 18, 2012 3:58:07 PM
In March 2005 we entered into agreement to settle a class action lawsuit brought by former shareholder. To settle we will issue 1,150,000 shares and pay up to $55000 in legal fees.
The law suit alleged that former CEO Dan Williams and CFO Andrew Wilson made material misstatements about our financial results. That the company over stated revenue and income, prematurely recognized revenue from contacts with Edge and Energy 2000. That the company lacked adequate internal controls and was unable to give a true financial condition of the company.
We never got our shares and it was listed in other year end reports. I had asked about it here before and no one responded. Odd about a week ago I was thinking about this and then the stock came in the mail.
Recent PED News
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- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 08:31:07 PM
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- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/24/2024 01:55:39 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/24/2024 01:47:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/23/2024 11:21:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/23/2024 11:21:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/23/2024 11:21:01 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/19/2024 09:32:13 PM
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