Replies to post #53028 on Ocata Therapeutics Inc fka OCAT

[crystal finishing]

WOW!! is there ever a lot of gibberish on this board...

Go ACTC!!

[rocky301]

scandal,

Rocky - can you provide us a summary of what ACTC still has outstanding, in terms of lawsuits, SEC investigations, etc, and what the likely outcomes are for those?

SEC lawsuit:

ACT trying to reduce penalty, hoping this doesn't come back and bite them(see underlined below)

(from March CC)
"I want to make it clear that in the SEC matter, they are seeking no censure, no fines, and no penalties. What they are asking us for is essentially disgorgement of the cash that the company got through an exemption in the Securities Act, so they are asking for 3.5 million dollars, and they are asking for a cease and desist that we'd never do that again."
"we are trying to come to a resolution that requires us to pay less than the 3.5 million dollars to settle this matter. There are a variety of legal grounds that we are taking to try to pursue that, but of course the risk is if we can't settle with them and ultimately go to court,they could decide to seek you know penalties and censure and so forth"

A/G: CASE Waiting on Judge Magistrate to file "Report and Reccomendations" to presiding Judge on 3 of the 4 claims in amended claim. The Woodward claim survives no matter what happens
in upcoming report. Been waiting 80 days on report since hearing took place.