Positron Corporation (POSC)

[robertbtd]

Your comment “sounds slightly ominous” is suggesting that something bad is going to happen in a meager, minor, negligible, superficial, trivial, petty, remote, trifling, insubstantial, and/or an unimportant manner. Since “slightly” reduces “ominous” to a trivial degree of importance, I'm inferring that what you really are saying is a permanent injunction sounds considerably encouraging. In that case, we are in agreement. The permanent injunctions are really just a warning, stating if one does these particular things again, the court now has authority to penalize the offender by implementing contempt of court penalties.

As far as the hearing on an officers/director bar and disgorgement goes, yes that is still on the table, but not necessarily “likely”. For the court to issue the bar, they use the following 6 point test in making that determination.
>>> a six factor test to determine if the bar should be entered. Under that test the Court considers:
(1) the egregiousness of the underlying securities law violation;
(2) the defendant's repeat offender status;
(3) the defendant's role or position when he engaged in the fraud;
(4) the defendant's degree of scienter;
(5) the defendant's economic stake in the violation; and
(6) the likelihood that misconduct will recur." <<<

http://www.secactions.com/sec-officer-director-bars-by-what-standard/

In cases that I have read, any one of the 6 points is enough for the courts to refuse to impose the directors bar. Several months ago, Rooney filed motions with the court to have the directors bar decided during the motion stage. The court refused to do so at that time, but did indicate an interest in some of the points relating to the directors bar that were raised by Rooney's defense. To the best of my knowledge, the court stated that the motions portion of the hearings was not the proper venue to make that determination and indicated that additional documentation should be considered and the court would not do so at that time. This is what the court will be deciding, in addition to any disgorgrment, at the future hearing date.

Robert