HSYN, Home Security Networks Inc... a cursory glance makes it look like a POS. Judging by the brochure the product could be nonexistent; the co. used to be called AutoCorp Equities until recently and they dealt in auto finance (what makes them think they can suddenly get into GPS tracking systems now?); and the past president was busted by the SEC, see below.
That's just a quick look. Hope your brother doesn't get scammed on that one. Will keep an eye on it.
"Commission Declares Decision As To Robert Cord Beatty Final"
The decision of an administrative law judge barring Robert Cord Beatty from participating in an offering of penny stock has become final. The law judge found that In August 2004 the U.S. District Court for the District of Utah permanently enjoined Beatty from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Exchange Act of 1934, and Exchange Act Rules 10b-5 and 13b2-2, and from aiding and abetting future violations of Exchange Act Section 13(b)(2)(A).
Beatty was the former president of AutoCorp Equities, Inc., a company that promoted and produced live performances in Las Vegas, Nevada. While Beatty was president, AutoCorp claimed in filings with the Commission that it owned certificates of deposit worth approximately $3.75 million. The District Court found that it was “undisputed” that by mid-1994 Beatty knew the CDs were worthless. (Rels. 33-8554; 34- 51379; File No. 3-11666)
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