MY response from RLABD..Not good. read further ...
7/1/2011
"Given the news concerning the SEC action against Doug Newton and Real American Capital Corporation in relation to a transaction that took place long before the current plans were being undertaken, we must regrettably postpone iour plans to reorganize, restructure and pursue a new business plan for the company. The new principals had been alerted to this inquiry, but were caught off-guard because it did not appear to be targeting the company itself, and further because it did not appear to be a problematic transaction. The current principals are not expressing any opinion on the matter itself because it precedes their involvement. While all the new principals remain desirous of engaging in this business, until there is some kind of indication from the SEC that no punitive action will be taken against the company, all such prospective new principals feel that it is advisable to not take any action which may be deemed contrary to SEC goals and actions."
Howard Salamon
Remember guys this sounds bad But the current members of the RLABD team had nothing to do with Mr Newton's proposed illegal activities since this happened in 2009 well before they became involved. Let's hope we can recoup losses one day.
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