Replies to post #44535 on Ocata Therapeutics Inc fka OCAT

[rocky301]

louisa,

much more to it than that. SEC has filed suit against ACT
not Caldwells estate so employment contract means nothing.
SEC is holding ACT liable for $3.5MM received as kickbacks from shares that were done under exemption rules which is NOT allowed.
The list goes on..

Start at link below on slide 38

The Illegal Distribution Of Unregistered
Shares Of Advanced Cell Common Stock
http://www.sec.gov/litigation/complaints/2012/comp22381.pdf

126. Overall, for all thirteen settlements, the sales yielded Outboard Investments and the Lefkowitz Related Entities II gross proceeds totaling $10,339,928. Outboard Investments
and /or a Lefkowitz Related Entity II remitted $3,500,000 of the gross process to Advanced Cell through the Intermediary in an effort to conceal the relationship between the payments and the Section 3(a)(10) exchange. Advanced Cell falsely recorded the first $1,500,000 of remittances on its book and records as proceeds from the sale of convertible debentures, which were issued to Transition Holdings and sent to Lefkowitz. However, the debentures were ultimately cancelled and Advanced Cell ultimately gave Transition Holdings exclusive rights to certain non-core technology patents which Caldwell described as patents that relate to non-core technology and that Advanced Cell otherwise would have abandoned or licensed.

Advanced Cell Failed to Timely File Required Current Reports
With The Commission Concerning Its Section 3(a)(10) Settlements