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Microcap & Penny Stocks : NVID International
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To: Derek Allen who wrote (478)12/11/1996 5:50:00 PM
From: Derek Allen   of 3244
 
To All:

Further information regarding the S.E.C. v. Klenovic et al., complaint.

The S.E.C. is submitting documentation to the court today detailing a
settlement arrived at between the parties. The court now must accept
or reject the proposed settlement. Generally the court will accept.

Understand this does NOT mean the charges were dropped, found not
valid, lacked evidence of any wrong doing or anything of the kind.
It simply means the parties have agreed to settle the matter in lieu
of a full blown trial. In view of this proposed settlement, the
pre-trial conference scheduled for Friday, December 13th, has been
cancelled. The details of the settlement will be available to the
general public probably early next week.

Finally, as indicated yesterday regarding this matter, after 2-1/2
years of the S.E.C. pursuing Klenovic, they have not let him off
unscathed. Although there may be no trial, he will incur severe
sanctions and penalties which will substantiate his complicity.
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