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Faptap

01/16/24 7:59 AM

#20440 RE: 71chris71 #20438

Agreed… Thank You T53 and Penny!
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PennyHoper

01/16/24 9:06 AM

#20444 RE: 71chris71 #20438

Public information (state corporation filings, Facebook posts, web-site matters, and minor things like that) are 'signs of life.' As I've said before, the most myself and T53 can do is post (dug out) public information. Otherwise we are as frustrated as you that Nixon has not sent news directly to his shareholders.

T53's recent post:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173630542

with this embedded link:
https://www.securitieslawyer101.com/2014/sec-investigation/

made me wonder whether Nixon ever received a Wells Notice (a non-public notice from the SEC that it was thinking of taking action against Nixon).

Unless Nixon filed a Wells Submission (i.e., a response that has to be made public) -- and filing these is often NOT recommended by lawyers -- there's no way to know more since companies are NOT obligated to disclose to shareholders that they've received one. I have not yet found where a Wells Submission would be posted, but if it's supposed to show up on Edgar, it's not there.

One thing all securities lawyers recommend is that if a company receives a Wells Notice, they contact their expert securities lawyer immediately and try to strike a deal before the SEC goes all prosecutorial on them.

So, for all we know, Hamilton could be helping Nixon fend off the SEC (instead of helping him go public). But that still raises the question of why she'd want to help him (for hire, of course) since she has no sympathy for fraudsters.

At the moment, the only publicized SEC action against Nixon was that they revoked him in 2022 as part of an 'offer of settlement' for not filing his financials. I don't know if that back-and-forth was part of the Wells Notice process or something independent. The possible 2-4 year turn-around for Wells Notice matters is also not encouraging, except that 2 years have gone by since revocation.

Although additional SEC action against Nixon would not be good news for shareholders, there'd surely be some measure of satisfaction that he's 'getting what's coming to him,' right?, as pay-back for all the anger and frustration he's put shareholder through. But again, if Hamilton is defending him, what's that tell you?