FELON/BARRED BROKER paid to promote GEPT agrees with Cramer. Time to take profits in GEPT
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"E. On November 16, 2000, ISEN was convicted by the United States District Court for the Southern District of New York of one count of conspiracy to commit securities fraud and wire fraud based upon his receipt of undisclosed payments for selling Eagle stock (U.S. v. ISEN, Case No. S2-98-Cr. 207 (RPP)(S.D.N.Y.)."
"MarketByte LLC has been paid a fee of $60,000 cash by Global E-Point for coverage of the company. "
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The only new BLOG entry this week was for BrandPartners (OTC BB: BPTR). The stock's recent rebound phase continues despite the small pullback. Someday BPTR shareholders will be treated to the same kind of ride GEPT shareholders are enjoying right now. I don't know when, but if the company keeps delivering the numbers it is going to happen.
To use the BLOG, simply go to the home page at www.otcjournal.com - the BLOG will scroll down automatically on the right side of your screen. The most current journal entries appear in the middle of your screen. Check back frequently for updates particularly when stocks are moving to overbought or oversold levels or in volatile markets. Your questions and postings do not automatically appear, so don't bother posting the same question multiple times. I personally go through to moderate and respond to every question.
Global ePoint (NASDAQ: GEPT); Profit Alert
You are looking at a picture of the OTC Journal's new best friend, Jim Cramer; CNBC show host (Mad Money), columnist, hedge fund manager, and co founder of TheStreet.com. On the CNBC show Mad Money, Cramer jumps around like a maniac, screams, and sweats profusely. People love his antics and listen.
I want to personally thank Mr. Kramer for being the catalyst in this week's breathtaking surge in GEPT.
Since early June I have been encouraging accumulation around the $3 levels. There were two BLOG postings and two full editions.
On Wednesday of this past week GEPT thrilled investors by announcing the introduction of a new technology. The company announced a new video surveillance product for large crowds which was developed from their cockpit video surveillance technology. Not doubt, facial recognition software will be a component in the end product. The introduction was timely in lieu of the recent terrorist events in London, and the market responded by bidding the stock up into the $4 range.
On Thursday evening Jim Cramer included GEPT on his list of "must own" homeland sercurity/defense stocks. Click here to read the news release.
On Friday morning shares of GEPT gapped open and ran to an intraday high of $7 plus. Thank you Mr. Cramer. There was a pretty big short position in this one, and they are getting killed right now.
Here's a weekly chart of the stock going back to the beginning of 2004. The OTC Journal's first edition on the company was November 24, 2004. Since that first edition, the stock has spiked into the $6 range twice, only to be followed by extended pullbacks and lengthy periods of quiet trading activity.
This stock has a history of making short term bursts to the upside, followed by pullbacks. This time the pattern could change. Friday's volume of 15 million shares doubled the best day in the stock's history. There will no be more eyeballs on this stock than ever before.
Nevertheless, my advice would be to take part or all of your profits, with a longer term game plan of buying the stock back after the excitement is over with. At this point I am prepared to guess at about $4.50 to $5 as a good entry level, but let's wait a few weeks and look at Fibonacci retracement levels.
Longer term I believe this could a $10 stock. If you're a seller, you should do so with the idea of recapturing those shares at lower levels.
This is now the 4th idea I've been able to recommend locking in profits on since June 1. The others include the ZAPZ trade (now ZP), XNOM, and TREN.
This "perfect storm" sequence of events for GEPT shareholders bolsters the concept of accumulating microcaps when they are quiet and no one wants them, and being a seller when the whole world is jumping on the stock. It simply requires a little faith and patience.
The surge in this stock reinforces my belief that the homeland security/defense sector will enjoy a resurgence of interest later this year. Keep an eye on VTSI and AGSI to benefit when the time comes.
I don't know about you, but this one made my week.
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OTC JOURNAL's LARRY ISEN A/K/A LAWRENCE D. ISEN a/k/a MR BOUNCE A/K/A EDITOR AND PUBLISHER OF THE OTCJOURNAL.COM.
OTC Journal
OTC Journal: My name is OTC Larry ISEN, and I am the editor and publisher of the
OTC Journal. Steve Schneider, the CEO of ZAP, which trades on the OTC ...
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C. ISEN is a resident of San Diego, California. He was employed by Cohig as a registered representative in its Solana Beach office from approximately November 1991 to May 1995.
D. From at least September 1992 through February 1993, ISEN willfully violated Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in that he, directly or indirectly, in connection with the offer, purchase or sale of certain securities, by use of the means or instrumentalities of interstate commerce and by use of the mails, employed devices, schemes, or artifices to defraud, obtained money and property by means of, and made, untrue statements of material fact and omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, and engaged in transactions, acts, practices, or courses of business which would and did operate as a fraud or deceit upon purchasers of such securities.
1. As part of the aforesaid conduct, ISEN, while a registered representative at Cohig, received undisclosed payments, directly and indirectly, from persons controlling or otherwise affiliated with Eagle, in return for selling Eagle stock to investors.
E. On November 16, 2000, ISEN was convicted by the United States District Court for the Southern District of New York of one count of conspiracy to commit securities fraud and wire fraud based upon his receipt of undisclosed payments for selling Eagle stock (U.S. v. ISEN, Case No. S2-98-Cr. 207 (RPP)(S.D.N.Y.).
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Securities Act of 1933
Release No. 8044 / December 19, 2001
Securities Exchange Act of 1934
Release No. 45172 / December 19, 2001
Administrative Proceeding
File No. 3-9187
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In the Matter of
CARMEL EQUITY PARTNERS,
ET AL.
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ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS AND CEASE-AND-DESIST ORDER AGAINST RESPONDENT LAWRENCE D. ISEN
I.
The Securities and Exchange Commission ("Commission") instituted public administrative and cease-and-desist proceedings pursuant to Section 8A of the Securities Act of 1933 ("Securities Act"), and Sections 15(b), 19(h) and 21C of the Securities Exchange Act of 1934 ("Exchange Act") in this matter on November 18, 1996.1 Respondent Lawrence D. ISEN ("ISEN") has submitted an Offer of Settlement ("Offer") which the Commission has determined to accept.
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission or in which the Commission is a party, and without admitting or denying the findings herein, except for those contained in paragraphs II. A., B., C. and E. below, which are admitted, ISEN consents to the entry of this Order.
II.
On the basis of this Order and Respondent's Offer, the Commission makes the following findings:
A. Cohig & Associates Inc. ("Cohig") is a broker-dealer registered with the Commission pursuant to Section 15(b) of the Exchange Act (File No. 8-33481) since March 1985, with its principal place of business in Denver, Colorado. At relevant times, it maintained a branch office in Solana Beach, California.
B. At all times relevant to this proceeding, Eagle Holdings, Inc. ("Eagle") was a reporting company with its principal place of business in Mesa, Arizona. At all times relevant herein, Eagle common stock was traded on NASDAQ.
C. ISEN is a resident of San Diego, California. He was employed by Cohig as a registered representative in its Solana Beach office from approximately November 1991 to May 1995.
D. From at least September 1992 through February 1993, ISEN willfully violated Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in that he, directly or indirectly, in connection with the offer, purchase or sale of certain securities, by use of the means or instrumentalities of interstate commerce and by use of the mails, employed devices, schemes, or artifices to defraud, obtained money and property by means of, and made, untrue statements of material fact and omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, and engaged in transactions, acts, practices, or courses of business which would and did operate as a fraud or deceit upon purchasers of such securities.
1. As part of the aforesaid conduct, ISEN, while a registered representative at Cohig, received undisclosed payments, directly and indirectly, from persons controlling or otherwise affiliated with Eagle, in return for selling Eagle stock to investors.
E. On November 16, 2000, ISEN was convicted by the United States District Court for the Southern District of New York of one count of conspiracy to commit securities fraud and wire fraud based upon his receipt of undisclosed payments for selling Eagle stock (U.S. v. ISEN, Case No. S2-98-Cr. 207 (RPP)(S.D.N.Y.).
III.
In view of the foregoing, it is in the public interest to impose the sanctions specified in the Offer.
Accordingly, IT IS HEREBY ORDERED THAT:
A. Pursuant to Section 8A of the Securities Act and Section 21C of the Exchange Act, ISEN be, and hereby is, ordered to cease and desist from committing or causing any violations and any future violations of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; and
B. ISEN shall comply with his undertaking to provide, at the Commission's request, on reasonable notice and without service of a subpoena, discovery and to testify truthfully at any deposition and at any judicial or administrative proceeding related to the order instituting proceedings in this matter or any allegations therein, or any other proceeding brought by the Commission as a result of its investigation titled In the Matter of Eagle Holdings, Inc., and that he will continue to be considered a party to this action for purposes of the Right to Financial Privacy Act of 1978 [12 U.S.C. 3401-22], except that ISEN does not hereby waive his privilege against self-incrimination under the Fifth Amendment to the United States Constitution.
By the Commission.
Jonathan G. Katz
Secretary
Footnote
1 The Commission is not imposing sanctions against ISEN pursuant to Sections 15(b) and 19(h) of the Exchange Act because ISEN was previously barred from association with any broker or dealer. In the Matter of Martin Herer Engleman, Peter Paul Kim and Lawrence David ISEN, Admin. Proc. File No. 3-7719, 1995 SEC LEXIS 1197, 52 S.E.C. 271 (May 18, 1995), aff'd, ISEN v. S.E.C., 1996 U.S. App. LEXIS 15635 (9th Cir. 1996).
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