Replies to post #6873 on Cemtrex Inc (CETX)

[stockmasterflash]

It would have been fine if it was CETX doing the promoting

Problem is that it was a secret front company formed by Aron Govil doing the promoting despite the S-3 saying no one from CETX was promoting the stock.

They lied to the shareholders and the SEC

https://www.sec.gov/Archives/edgar/data/1435064/000149315216015696/forms-1a.htm

Quote:In the event that there are unsubscribed units in this rights offering, Aron Govil, our Executive Director, through Ducon Technologies, Inc., a company which he controls, has indicated to us that he may purchase up to approximately $3.3 million of units during the 45-day placement period following the expiration of the rights offering through the conversion into units of a note payable by us to Ducon Technologies in a like amount. This note was issued to Ducon Technologies to partially fund our acquisition of Periscope, GmbH in May 2016. All units sold to Ducon Technologies, if any, will be at the same price and on the same terms as purchasers in the rights offering.


Quote:
Price Stabilization, Short Positions

No person has been authorized by our company to engage in any form of price stabilization in connection with this rights offering.