Replies to post #428 on BSD Med Corp. (fka PRSNQ)

[diannedawn]

Far too often these companies get away with the crap they pull
because the SEC stands by and DOES NOTHING,
and the majority of shareholders do not have the $$$
to pursue the company on their own.
IF the shareholders can get a class action suit together, they sometimes can win...
I have received a small amount of $$$ back through several class action suits.

Thanks! again!!! Paul Schwartz!!!
I will follow this case with interest!

BTW...this is out there on PACER.gov
you are NOT charged unless you run over $15 in a quarter.

[diannedawn]

I also thought the sale seemed shady!

Why do I not feel comforted by this?
"Two former directors of the Company, Dr. Gerhard W. Sennewald and Douglas P. Boyd have a financial interest in Buyer. In light of the Company’s relationship with Buyer, the Company received a fairness opinion from Houlihan Valuation Advisors that the consideration it received for the Acquired Assets is fair to the Company from a financial perspective."

This company has been such a disaster, and now they're selling off the ONLY thing they did have going for them?
To a company that former insiders have "an interest in"?

Oh...and btw...we're going to RS...

WTF!!!

From the complaint
"the decision to sell the hyperthermia line of business in a fraudulent transfer of assets to a newly
formed company in which two former directors have a financial interest"
"Plaintiff further states that after being served with the Derivative Demand, the
Company engaged in a fraudulent transaction wherein it conveyed one of its primary assets to a
related party for insufficient consideration. The conveyance of BSD’s hyperthermia assets to a
very recently formed company comprised of BSD’s former directors and officers, in
consideration for common stock lacking an established market, is detrimental to the company
and its investor base at large."

YOU ROCK PAUL!!! GO GET THEM!!!

[diannedawn]

Who knows? MAYBE even the SEC will DO THEIR JOB
and look in to some of the crap that's gone down here...
Na....their too busy...
"On a day when President Obama argued for more government regulation over the financial industry, a new government report reveals that some high-level regulators have spent more time looking at porn than policing Wall Street.

The Securities and Exchange Commission is supposed to be the sheriff of the financial industry, looking for financial crimes like Bernard Madoff's Ponzi scheme. But the new report, obtained by ABC News, says senior employees of the SEC spent hours on the commission's computers looking at sites like naughty.com, skankwire, youporn, and others.

The investigation, which was conducted by the SEC's internal watchdog at the request of Sen. Chuck Grassley, R-Iowa, found 31 serious offenders over the past two and a half years. Seventeen of the offenders were senior SEC officers with salaries ranging from $100,000 to $222,000 per year.

Eight Hours a Day Spent on Porn Sites"
http://abcnews.go.com/WN/sec-pornography-employees-spent-hours-surfing-porn-sites/story?id=10451508