If you go to the below link, you will be able to read a SEC complaint. If you are wondering why I would point this out to you, all you need to do is read the first couple of paragraphs. If you change some of the NAMES...
Investors of QBID, and especially those who were investors of GAAY are at the end of their patience. First you all are talking like there is no tomorrow, releasing PR and going on interviews. Then you shut down any information which can be verified. And now, you and yours are leaking information to certain people for some unknown reason.
Are you trying to use these people to alter the stock prices, or are you just playing with them?
No matter where TTN is now in its dealing with TWC, you have a responsibility to your shareholders to tell the truth and clear up some of the rumors/leaks/or whatever you want to call them.
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA
Case No.
SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
vs.
DAVID GANE, JEFFREY D. WELSH, SOUTHERN FINANCIAL SERVICES, INC., SOUTHERN WASTE, INC., dba STRATEGIC INVESTORS GROUP, CHARLES T. TAMBURELLO, and CAPITAL RESEARCH GROUP, INC., Defendants.
Complaint for Violations of the Federal Securities Laws
Plaintiff Securities and Exchange Commission ("Commission") alleges as follows:
Summary
1. This action involves the fraudulent manipulation of Dicom Imaging Systems, Inc.'s common stock in 1999 and 2000 by its former president, Dr. David Gane, and the following stock promoters that Gane hired to promote Dicom stock: Jeffrey D. Welsh, Southern Financial Services, Inc., Southern Waste, Inc., dba Strategic Investors Group, Charles T. Tamburello, and Capital Research Group, Inc. (collectively the "Stock Promoters"). Gane and the Stock Promoters (collectively the "Defendants") made materially false and misleading public statements regarding Dicom's future revenues and earnings in press releases, a package of financial information, mass e-mails ("spam"), faxes, and/or interviews of Gane that were broadcast on television and placed on the Internet. Even though Dicom had failed to meet its internal financial projections - which stated that it would generate $24.7 million in revenues, and $19.7 million in earnings, in its first three years of operation - and even though Dicom had generated losses in the first six months, the Defendants continued to repeat the projections publicly. In fact, Gane even increased his revenue projection to $50 million and $60 million. The defendants kept repeating the projections, or even higher ones, even though they knew, or were reckless in not knowing, that Dicom was not meeting its initial projections. In addition, the Stock Promoters, whom Dicom paid to tout its stock, failed to disclose all of the compensation that they received for their services. Finally, the Stock Promoters set increasingly higher stock price targets and recommended that investors buy Dicom stock, but they failed to disclose their practice of selling their own Dicom shares, after issuing their recommendations, into the artificially inflated market that they and Gane created. This practice is known as "scalping" and resulted in the Stock Promoters making over $1.1 million in stock trading proceeds.
2. The Defendants' conduct violated the antifraud provisions of the federal securities laws, and the Stock Promoters' failure to disclose all of the compensation that they received to tout Dicom's stock violated the anti-touting provisions. By this action, the Commission seeks injunctive relief and civil penalties against all of the Defendants, as well as disgorgement and prejudgment interest against the Stock Promoters. In addition, the Commission seeks to bar Gane from acting as an officer or director of any publicly traded company.
If TW is indeed in charge of this, there's no way they're NOT going to do an R/S on this stock. Nobody in the 'serious' investor group is going to take them seriously unless this is near $1.00.
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