I submitted a letter to the ASC a few days ago when I posted here asking everyone to send a letter, in hopes that with a great deal of people asking them to recend this order, that they may change it for the companies, to help the share holders. No where did they mention in the letter, or the ruling, anything about the SEC, except to call them if you had questions regarding the Alberta ruling.
The fact that they replied to me, personally answering all the questions that I asked, I think is very professional of them. They went out of their way for me, and answered all of my concerns, and I sincerely appreciate their dealing with me, a single investor in this company.
I'm posting the short email, and their responses! I didnt take time to write something that would look very professional, just wanted to write as a concerned investor. And I might add, I'm in agreement with the ASC about their position! I dont like that its helped shorters here, and will make it harder going forward, but really Luniel should have known better, "IN MY OPINION"!
And also (IN MY OPINION), I dont think that the SEC would do much more than a fine. I could be wrong, but I think that there are so many investment scams (of which I lost quite a bit of money a few years ago) to persue, that this seems minor to me! The following is the letter and their answers:
How is this ruling about a cease trade order going to help the investors in this company?
"You first have to understand the Cease Trade Order is only in effect in the Province of Alberta. If you reside in another jurisdiction, you can trade the shares with no restrictions. A CTO is put into place to protect potential investors-in other words we don’t want a possible illegal activity to be perpetrated upon new investors therefore although it may not be of help to those already invested, it will stop other investors from possibly risking their capital."
The investors in this company have lost a great deal of money already, this only locks them into the company till it goes under?
"Because it only affects Alberta investors, there is no reason why the company should be adversely affected other than current investors, in light of the other securities related fraud which has been well documented, deciding to get some of their money out in case it may be a scam. We cannot control what investors do or don’t do but we can put into place orders protecting investors from participating in a possible fraudulent activity."
I have lost %120 of my original investment with this company. I have an aquaintance that lives in Canada, and cannot trade his shares. I do not feel this is a fair ruling, but another slap in the face of the investors in this company, which have been through enough already.
"If we allowed your Canadian acquaintance to sell his shares, they could be purchased by an Alberta investor who we are trying to protect. What good would it do if a fraudulent activity were allowed to continue only long enough for yourself or your friends to divest themselves of these shares and saddle someone else with the securities? Again, if you friend does not reside in Alberta, he can freely trade his shares."
Skymark however, whatever ruling you have against them is justified, but I feel the ruling to not let shares of TSHO be traded just further hurts the investors that you are trying to protect. I would ask that you please reconsider the cease trade order placed on the companies shares. Give the investors the choice to get out if they want, or try and make money on this investment.
"The only way investors can get out is by selling their shares to another investor, thus continuing the problem. You should carefully read the Notice of Hearing on our website (link below) to better understand why these orders were put into place. I have copy and pasted two key points of the Notice of Hearing for you below."
"4. The Respondents Tradeshow and PBEC knew, or in the circumstances ought to have known, that the market for their shares was being manipulated by the other Respondents, and each authorized or acquiesced in the wrongful conduct of the other Respondents; and "
"5. The Respondents have each acted contrary to the public interest."
"In short this means they are alleged to have allowed the manipulation of their stock price which is illegal. The link to the full Notice of Hearing is below."
Thank you for reading this email, and any considerations that you may give it!
Sincerely
Pirate
To me that shows a concern for us, and their public! And I am extremely grateful to them to have taken the time to reply to me personally. In my opinion Its now up to Luniel, he should come out with a press release! No TSHO investor should have to email Shelton, or anyone to get information about whats going on with their company. The consistantly late PR's about tests, the hearing, financials, should be the exception and not the rule! IN MY OPINION!!!
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