Replies to post #14575 on Universal Express Inc fka USXP

[don schild]

Figures out to an average of 0.0358/sh

[Mighty_Mezz]

"The judge ruled the company, Altomare and its general counsel issued more than 500 million shares of unregistered public securities between April 2001 and January 2004."

Share count at start of January 2004 - 650,181,232
Share count at end of December 2006 - 15,981,433,343

Unless the SEC brings another case, RA is not being held accountable for the illegal issuance of those 15.3 Billion shares.

Who says crime doesn't pay?

[don schild]

SEC court filings against the former CEO of Boca Raton-based Universal Express say the company made millions of dollars in 2007 by selling unregistered securities - with help from some South Florida companies. *****
*the company, Altomare and its general counsel issued more than 500 million shares of unregistered public securities between April 2001 and January 2004. The parties receiving those shares at no charge sold them for $17.9 million and kicked back nearly $10 million of that to Universal Express, which distributed $1.4 million to Altomare.

So, sounds like a MM was dirty here,
Or the stock was NSSed by USXP/Altamore.
Or a combination of both.

Am I reading this right ?

Who is this "South Florida companies" ?

I'm just trying to catch up on this saga, so I may be missing a few thousand posts that explain all this, but could someone explain ?