State of Utah
Department of Commerce I Division of Securities
JON M. HUNTSMAN, JR.
Governor I
GARY R. HERBERT FRANCINE A. GIANI THAD LEVAR WAYNE KLEIN
Lieutenant Governor I E..ecutiue Director Deputy Director Director of Securities
NEWS RELEASE
June 20,2007
President of Imposter Company Ordered to Stop Fraudulent Securities Sales
New company pretentletl to be sciccessor to clefcclrtct conzpany, plarzrzetl to sell stock. . .
SALT LAKE CITY, Utah - A default order was entered today against J.D. Pulver, of
Riverview, Florida for attempting to deceive investors and trading markets that Flavor Brands,
Inc. was the same company as a Utah company that went out of business in 1999. Pulver was
president of Flavor Brands, Inc. The Order requires that Pulver cease offering securities to the
public, cease portraying Flavor Brands as the same company as a prior Utah company, and pay a
$50,000 fine.
The default Order describes how a Utah company named Turkey Jerky was formed in March
1984 and did a public stock offering in 1985. Because of that stock offering, investors could buy
and sell shares of Turkey Jerky that were sold in the public offering. The company later changed
its name to Flavor Brands. In 1999,the company was dissolved for failing to file its annual
report with the Utah Division of Corporations. In 2001, the reinstatement period expired and the
company's termination became permanent. At that point, the shares ceased to have any value.
In 2005, a group of promoters out of Nevada, including Pulver, formed a new Utah company,
calling the new company the same name as the defunct company - Flavor Brands, Inc.
According to the Division, the promoters then told stock transfer agents and electronic trading
networks (such as the Pink Sheets) that the new company was the successor to the old company.
As such, the promoters hoped to be able to sell shares they had issued to themselves to other
investors at huge profits. The new compaily even used the same stock symbol as the prior
company, a tactic called "syn~bolr ustling."
The transfer agent for the original Flavor Brands company told the Division what was
happening. When the company failed to remove its listings from the Pink Sheets, the Division
issued an Emergency Cease and Desist Order on August 2 1, 2006. Pulver filed some initial
responses to the Emergency Order but then failed to provide other information required by the
Presiding Officer. On September 21,2006, officers of the company voluntarily dissolved Flavor
Brands, so it ceased to exist as an entity.
A default order also has been entered against the company, Flavor Brands, Inc. and two other
officers, Tim Haskin, its vice-president, and Denise Sullivan, the company's former president.
With today's order, the Division's proceedings are concluded against all parties.