IMO the SEC has had a hand in this so far to keep it from trading after the suspension.I think they are still investigating the NSS issue.Here is my second letter to SEC:
Dear Mr. Smith:
Thank you for your email and for taking the time to alert us to your concerns.
We take your email as a request to investigate short selling in EQBM.
We will carefully consider your request for an investigation. But at this
point, our office can do nothing further to help you. This is because the SEC
generally conducts its investigations on a confidential basis and neither
confirms nor denies the existence of an investigation until we bring charges
against someone involved. We cannot provide you with updates on the status of
your complaint or of any pending SEC investigation. We know this policy can be
frustrating, but it protects the integrity and effectiveness of our
investigative process and preserves the privacy of the individuals and entities
involved. Our policy is more fully described below.
Once again, thank you for writing to us.
Sincerely,
ROBERT T GREENE
U.S. Securities and Exchange Commission
(202) 551-6331
INFORMATION ABOUT SEC INVESTIGATIONS
Each year, thousands of investors ask the Securities and Exchange Commission to
investigate the activities of other investors, financial professionals,
corporations, brokerage firms, investment companies, stock exchanges, and
others. These complaints generally suggest some impropriety or misconduct and
sometimes make a plea to the SEC for direct assistance in resolving a grievance.
The SEC has the authority to investigate whether violations of the federal
securities laws have occurred, and we make every effort to evaluate promptly and
thoroughly the information provided by investors. But we cannot investigate
every investor complaint. While many investor complaints do lead to full
investigations and, if appropriate, to enforcement actions, we cannot guarantee
that our review will lead to further investigation or that the SEC will take any
legal action.
We also cannot provide you with updates on the status of your complaint or your
request for an investigation. The SEC generally conducts investigations
confidentially for two main reasons. First, we can conduct investigations more
effectively if they are not announced publicly. For instance, important
documents and evidence can be destroyed quickly if people hear of an
investigation. Second, we keep our investigations confidential to protect the
reputations of companies and individuals if we find no wrongdoing or decide we
cannot bring a successful action against them. The SEC will not typically
confirm or deny the existence of an investigation unless, and until, it becomes
a matter of public record as the result of a court action or administrative
proceeding.
When there is proof that someone has violated the securities laws, the sanctions
may include financial penalties, orders to surrender profits, cease and desist
orders, or an injunction by a court to prevent further violations. The SEC may
also bar individuals from working for a securities firm, investment adviser, or
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being officers and directors of publicly held companies. In some situations, we
may refer a case to the Department of Justice for possible criminal prosecution.
The SEC publishes news releases about its lawsuits and administrative actions,
and the news media often report on them. You can read and download the SEC's
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www.sec.gov/divisions/enforce/enforceactions.shtml. Or you can obtain hard
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Office of Public Reference
100 F Street, N.E.
Washington, DC 20549-0102
Phone: (202) 551-8090
Fax: (202) 777-1027
E-mail: publicinfo@sec.gov
From: A.HOWARD SMITH [mailto:a_howardsmith@hotmail.com]
Sent: Wednesday, March 21, 2007 9:50 AM
To: Help; PublicInfo
Cc: OIEA
Subject: NAKED SHORT SELLING---A CRIMINAL THIEF
Dear Sir: I am writing today about the case that was started centering aroun
EQBM(Equitable Mining) of which i am a shareholder.I feel your recent suspension
of this stock has and is promoting a very different picture to us as
stockholders and to the rest of the investment community.Below I have included a
recent stock informational paper taken from another stocks attempt to make it's
shareholders aware of what they are facing as a company.I assume that you are
fully aware of the ramifications if this paper were to be released to the
investing community as a whole. The small investor who after reading this would
think twice before joining the ranks of the criminally defrauded investors who
trusted that things were as they seemed to be in the markets.
>>>>If you haven't read this, and wonder what is happening to EQBM, I encourange
you to compare what is written here with what you are observing on XTMS.
Advanced Small Business Alliance (ABSA) Position Paper
SHORT SELLING COMBINED WITH FRAUDULENT STOCK MANIPULATION
Submitted by Gregory J. Halpern – CEO, Circle Group Holdings, Inc.
Mr. Halpern is the Director of the Midwest Regional Chapter for the CEO Council
August 12, 2005
Small Business Hurdles
The millions of small business professionals that own and operate small
companies in this country produce a majority of America's private gross domestic
product, most of the taxable revenue to the treasury, and most of the new jobs
every year. Between 1990 and 1995 they created 76 percent of America's new jobs.
In 1998 alone, this sector created 31 million new jobs in nearly 900,000 new
companies. And this trend is expected to continue. A crucial component of our
domestic economic engine is the ability to create funding through access to the
capital markets. Everyone who owns or runs a publicly traded small business
knows the hurdles that they must overcome in order to make their business
successful, including obtaining funding, completing all of the regulatory
filings, competing for market share, and compliance with Sarbanes-Oxley with the
outrageous cost burden it imposes, to name a few. Small public companies, and
many others with the goal to get to the capital markets accept all of this, plus
long hours, late nights, and weekends as what it takes to grow their business,
improve the world with their products and services, and create wealth for
themselves, their employees, their shareholders and the economy.
But small public companies and their shareholders are facing a severe problem,
and they are looking to the Securities & Exchange Commission, the Justice
Department, and the F.B.I. to help them get urgently needed relief. The problem
is that short selling is being intentionally combined with fraudulent stock
manipulation to destroy the value that small American businesses in the capital
markets work so hard to achieve. The points contained in this position paper
have tremendous merit for all small public companies but it must be pointed out
that it was written with a bias because our company, Circle Group Holdings, has
been under constant attack from a well-organized group of criminals for over a
year and a half. Our management team and employees, who are all owners of the
company’s stock, are tenacious, tough minded, fighters of injustice, with
multi-faceted business experience and backgrounds in martial arts. Thanks to our
intestinal fortitude learned from these backgrounds, we have survived the
attacks, and fully expect to survive any additional attacks. From early 2004,
until the present, Circle Group has successfully battled its attackers by
getting several public web sites and chat boards to remove malicious phony
content, getting a protective court order and winning motions on cutting edge
Internet jurisdiction issues. We found out through this experience that one of
our attackers is now a defendant in other securities matters and is currently
being prosecuted by the SEC for another unrelated stock fraud. Tragically, many
other small public companies have gone out of business. Still more will not
survive the attacks or mount any serious defense against the perpetrators who
work in hiding, often live and/or operate off shore, have completely phony
identities and are cloaked by the anonymity of the Internet.
For additional perspective our company, Circle Group Holdings has a legitimate
natural food technology solution for obesity called Z-Trim that was developed at
the U.S. Department of Agriculture over many years with significant amount of
taxpayer dollars. Many anonymous attacks have been made against the company and
its personnel in particular saying that Z-Trim is a scam. Except for bashers, no
one on the planet has even suggested that Z-Trim invented by one of the world’s
most influential agricultural scientists, is a bad invention. Yet the bashers
who attack the company, post numerous outrageous lies about Z-Trim. It is
amazing that the number one health problem in the world today is obesity, and
this outstanding technology could reverse the course of this devastating
disease, yet here is this group of criminals posting lie after lie with their
only goal to destroy the value of the company’s equity and shareholder value.
Many innovations and inventions that could have benefited humankind will never
get to market because of the companies that were destroyed by these criminals.
When just looking at approximately 5000 small and micro-cap companies that have
an average issued and outstanding share total of 40 million shares, and
multiplying that by an average $5 loss on share value, we estimate the losses to
investors to be at least a trillion dollars annually. The number is probably a
lot higher when you factor all the other companies attacked and then lost jobs,
potential new economies of scale that never develop, lost capital markets
formation, increased cost burdens on government and families to support those
individuals wiped out, lost individual and corporate taxable revenue to the
treasury, lost improvements to our lives from innovation that does not occur,
and lost investor confidence in the emerging markets as well as erosion of the
American Dream.
Therefore, the primary objective of this Position Paper is to provide valuable
information and suggestions that if heeded, and if existing laws are enforced,
will help countless companies and their shareholders avoid suffering this fate
in the future. Without help, many companies will not survive, and many more will
have their shareholders’ value severely damaged. The criminals who perpetrate
the attacks being discussed here are bold, well organized economic terrorists
who commit securities fraud daily, without punishment, and who benefit immensely
from the technological advances of the Internet and the economics of regulatory
authorities who are challenged to justify the cost of pursuing these crimes.
After a miserable half decade in the capital markets, if the economy is to ever
improve in a noticeable way, this problem must be fixed. While serving large
corporations to better prevent rampant fraud exposed in recent times, Sarbanes
has not served small business in any way to restore investor confidence in the
market as evidenced by the lack of capital market investment and investors
continued knee jerk reactions to nearly every piece of daily news. The good news
is that the legal system in place, if utilized as suggested herein, already
provides the ability to remove most of the current network of criminals from the
capital markets and restore investor confidence, thereby stimulating many other
areas of our economy.
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