Replies to post #1614 on The Securities and Exchange Commission (SEC)
Quote:Litigation Release No. 21189A / August 27, 2009
Accounting and Auditing Enforcement Release No.3040/ August 27, 2009
SECURITIES AND EXCHANGE COMMISSION v. MICHAEL J. MOORE AND MOORE & ASSOCIATES CHARTERED, Civil Action No. 2:09-cv-01637 (D. Nev.)
SEC CHARGES LAS VEGAS-BASED CPA AND HIS ACCOUNTING FIRM WITH FRAUD
Today, the Securities and Exchange Commission charged a Las Vegas-based CPA and his public accounting firm with securities fraud for issuing false audit reports that failed to comply with Public Company Accounting Oversight Board ("PCAOB")
2.b
Quote:The SEC's complaint also alleges that Moore and M&A violated Sections 10A(a)(1) and10A(b)(1) of the Exchange Act by failing to include audit procedures designed to detect and report likely illegal acts. The complaint further alleges that Moore and M&A improperly modified audit documentation in violation of Regulation S-X Rule 2-06.
To settle the Commission's charges, Moore and M&A consented to the entry of a final judgment permanently enjoining them from future violations of Sections 10(b), 10A(a)(1), and 10A(b)(1) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Regulation S-X Rules 2-02(b)(1) and 2-06 and ordering them to disgorge $179,750 plus prejudgment interest of $10,151.59. Moore separately agreed to pay a $130,000 penalty. Moore and M&A also consented to the entry of an administrative order that makes findings and suspends them from appearing or practicing before the Commission as an accountant pursuant to Rule 102(e)(3) of the Commission's Rules of Practice.
No.: W-E-7-06- __ Number of Shares: 30,937,500 Date of Issuance: December 4, 2006
FOR VALUE RECEIVED, the undersigned, Remote Dynamics, Inc., a Delaware corporation (together with its successors and assigns, the "Issuer"), hereby certifies that Bounce Mobile Systems, Inc. or its registered assigns is entitled to subscribe for and purchase, during the Term (as hereinafter defined), up to Thirty Million, Nine Hundred Thirty-Seven Thousand, Five Hundred (30,937,500) shares (subject to adjustment as hereinafter provided) of the duly authorized, validly issued, fully paid and non-assessable Common Stock of the Issuer, at an exercise price per share equal to the Warrant Price then in effect, subject, however, to the provisions and upon the terms and conditions hereinafter set forth. Capitalized terms used in this Warrant and not otherwise defined herein shall have the respective meanings specified in Section 9 hereof.
1. Term. The term of this Warrant shall commence on December 4, 2006 and shall expire at 5:00 p.m., Eastern Time, on December 4, 2013 (such period being the "Term").
2. Method of Exercise; Payment; Issuance of New Warrant; Transfer and Exchange.
(a) Time of Exercise. The purchase rights represented by this Warrant may be exercised in whole or in part during the Term.
Expires December 4, 2013
Remote Dynamics, Inc. Announces Closing of Series B Secured Convertible Note; Announces Acquisition of BounceGPS, Inc.
Thursday, 7 Dec 2006
Remote Dynamics, Inc. reported that it has entered into a note and warrant purchase agreement for the sale of up to $1,754,000 of series B secured convertible note, including original issue discount (OID) notes, in the aggregate amount of $701,600, in a private placement transaction with several institutional and accredited investors. The private placement is structured to occur in four closings, each providing $438,500 in gross proceeds to the Company. The first closing occurred on December 4, 2005. The second closing will occur within five business days after the date the Company files a preliminary proxy statement with the SEC. The third closing will occur within five business days after the date the Company files an amendment to its Certificate of Incorporation. The fourth closing will occur within five business days after the date an initial resale registration statement for the shares. Midtown Partners & Co., LLC, and NASD member firm, acted as the placement agent. The Company also announced a share exchange agreement in which it acquired 100% of the capital stock of BounceGPS, Inc., and issued to the sole stockholder of BounceGPS, Inc. 5,000 shares of the Company's newly authorized series C convertible preferred stock; series B note in the principal amount of $660,000; OID note in the principal amount of $264,000; E-7 warrant to purchase 30,937,500 shares of common stock; F-4 warrant to purchase 30,937,500 shares of common stock
I am a very simple person, here is what I think I understand. (1)Remote Dynamics acquired 100% of Bounce Mobile stock. (2) Remote Dynamics signs agreement for BNCM to transfer assets of RMTD to Telogis. Why would RMTD do that. REDIview is asset of RMTD, BNCM has nothing to do with REDIview. Thats like going to KROGERS GROCERY and paying to get gas at Marathon. Why??????????? When RMTD could of just transfered to Telogis themselfs??? I think it was so the shareholders of RMTD would be cut out of the deal. And DW gets some kind of Commission Fee for conducting the deal. Seeing how Walters is the biggest shareholder of BNCM & RMTD.(DW makes money here).(even though they say so called foreclosure was to settle with creditors). I really don't see any reason why BNCM would or should of been involved. So if this transaction was illegal, then why isn't there a legal investigation being conducted by some Legal Dept that can do something to the wrong doers. Is the PCAOB looking into this? Do they know about Walters web....... Some days I think I have a understanding then other days I feel like I been in a wind twister. It basicly boils down to Walters walks away with something and shareholders are left in the dark with nothing......BUT, ICE & POSSE are back in town to spoil the bank robbers.... so no matter how confussed I get I trust those on the side of RIGHT will prevail in the end.......GLTA
Volvo Cars becomes the first automotive manufacturer in Brazil to launch an embedded telematics program, Volvo OnCall, with WirelessCar as the Service Provider. The announcement was made at the Sao Paulo Auto Show last week.
Volvo OnCall will be available from December 1st and be free for the first two years. The service will include automatic crash notification, breakdown notification and remote services such as door lock/unlock. Brazil will be the 15th country where Volvo On Call is available but the first country outside of Europe.
The service will also address any future regulatory demands for tracking and immobilization should they come to fruition.
WirelessCar is the only certified service provider in Brazil to offer embedded End-to-End services that includes a call center and GPRS telecommunication link and services. Possible services over and above the required tracking and immobilization include safety and security, remote services, remote diagnostics and mobile applications.
By admin
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GPS Vehicle Tracking
Website Addresses:www.remotedynamics.com/
Sales:
$0 - $1M yearly
Tradestyle names:
GPS Tracking
Key developments for Telenetics Corp.
SEC Revokes Registration Of Telenetics Corp
04/30/2010
The registration of the registered securities of Telenetics Corp. has been revoked. The company had repeatedly failed to file required annual and quarterly reports with the Securities and Exchange Commission (SEC). Thus, the company violated a crucial provision of the federal securities laws that requires a public corporation to publicly disclose current, accurate financial information so that investors may make informed decisions. The revocation was ordered in an administrative proceeding before an administrative law judge.
SEC Orders Hearings On Registration Suspension Or Revocation Against Telenetics Corp
04/5/2010
The Securities and Exchange Commission (SEC) instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of Telenetics Corp. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement alleged that the company is delinquent in its required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleged constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceedings.
CUSIP No. 87943P408 13G/A Page 05 of 09 Pages
________________________________________________________________________________
Item 1(a). Name of Issuer:
Telenetics Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
39 Parker
Irvine, CA 92618
Item 2(a). Name of Person Filing:
SDS Capital Group SPC, Ltd. ("SDS Capital Group")
c/o Ogier Fiduciary Services (Cayman) Ltd.
113 South Church Street, PO Box 1234GT
George Town, Grand Cayman
Cayman Islands corporation
SDS Management, LLC (the "Investment Manager")
53 Forest Avenue, 2nd Floor
Old Greenwich, CT 06870
Delaware limited liability company
Mr. Steven Derby
Sole Managing Member of the Investment Manager
53 Forest Avenue, 2nd Floor
Old Greenwich, CT 06870
United States citizen
SDS Capital Group, the Investment Manager, and Mr. Derby are collectively referred to herein as the Reporting Persons.
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