Re: GDIS (continued), Joseph Charles & Associates, Sevenoaks
[Thanks to Arcane Lore]
Three press releases related to the Joseph Charles & Associates lawsuit:
JOSEPH CHARLES & ASSOCIATES FILES LAWSUIT AGAINST GLOBAL DATATEL
MONDAY, MAY 24 1999 12:09 AM EST
in Palm Beach County Circuit Court
BOCA RATON, Fla., May 24 /PRNewswire/ -- The following is being issued by Joseph Charles & Associates, Inc., a member of the National Association of Securities Dealers, CRD number 3949:
Joseph Charles & Associates has filed a lawsuit in the Palm Beach county circuit court against Global DataTel, Inc. (OTC Bulletin Board: GDIS), its transfer agent, Signature Transfer, Inc., the president of the corporation, Richard Baker and a Bahamian corporation, SevenOaks Holdings, Limited. The complaint alleges that in late March, 1999, SevenOaks opened an account at Joseph Charles with 396,475 shares of GDIS. Joseph Charles had not previously traded in any shares of GDIS. The complaint states that Joseph Charles forwarded the shares to its clearing firm for confirmation of validation and transferability, which confirmation was received.
Furthermore, one month following the original confirmation, on May 6, 1999, Signature Transfer informed Joseph Charles' clearing firm that the certificates representing the 396,475 shares of GDIS are invalid and had been fraudulently or improperly issued. Since that time Joseph Charles has been diligently attempting to rectify the situation and seek remedial relief. However, to date GDIS has refused to provide Joseph Charles with valid certificates, has refused to provide an explanation as to the course of conduct and has otherwise been uncooperative and unsupportive. Joseph Charles may suffer substantial injury as a result of the invalidation of the stock certificates.
These events have caused Joseph Charles to begin to conduct an investigation on GDIS, including its financial, sales and revenue claims. Joseph Charles is extremely concerned about the integrity of the market place and the protection of its investors. As of this date, Joseph Charles has been unable to verify any of the financial, sales or revenue claims, although it is continuing all efforts to do so. Joseph Charles has requested the assistance from and has contacted all industry regulatory agencies and other authorities regarding this matter.
Information and statements contained herein, other than historical information, should be considered forward-looking, which involve risk and uncertainties. Joseph Charles & Assoc., Inc., its officers, directors and affiliates may maintain positions in the securities referenced which may change at any time without notice. The securities referenced are speculative in nature and may not be suitable for your investment objective.
SOURCE Joseph Charles & Associates, Inc.
05/24/99 /CONTACT: John Busacca, Director of Compliance, Joseph Charles & Assoc., Inc., 561-391-9090/
CO: Joseph Charles & Associates, Inc.; Global DataTel, Inc. ST:
Florida IN: FIN SU: LAW
www2.marketwatch.com.
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Global DataTel Vows to Protect Shareholder Interests
MONDAY, MAY 24 1999 6:10 PM EST
DELRAY BEACH, FLA. (May 24) BUSINESS WIRE -May 24, 1999--
Company Responds to Tactics of Joseph Charles Associates
Global DataTel Inc. (OTCBB:GDIS) announced today that it has recently been in contact with the U.S. Securities & Exchange Commission concerning the activities of Joseph Charles & Associates Inc., a Boca-Raton based brokerage firm, with regard to Global DataTel.
The company is taking action to protect the rights of its shareholders, following a week-long assault on Global DataTel by Joseph Charles via posts made on the Internet. Today, Joseph Charles, through a publicity news service, issued a release indicating that Joseph Charles had brought a suit against Global DataTel, yet conspicuously failed to disclose that its initial request for relief has already been denied by the Court.
"Joseph Charles & Associates Inc., has, through a variety of e-mails and posts on the internet, maliciously slandered Global DataTel with the intent to drive the company's stock price down," stated Richard Baker, President and Chief Executive Officer of Global DataTel. "In the appropriate forum, we will demonstrate that Joseph Charles was alerted by our attorneys in March, 1999, that a stock certificate for the same number of shares mentioned in Joseph Charles' press release had been stopped and that our attorneys have a signed receipt to acknowledge that this notification was indeed received by Joseph Charles. Joseph Charles disregarded this notice and sold shares, without adequate inquiry, creating a short position in the Company's stock which they desperately need to cover.
"Today's press release is the most recent example of Joseph Charles' campaign to drive down Global DataTel's share price. We will not allow our shareholders to be hurt by the unsubstantiated innuendo and scare tactics practiced by these people, and we intend to vigorously defend our shareholders' rights in this matter," Baker said.
Global DataTel (www.globaldatatel.com) is a first tier IBM Business Partner and the Latin American leader in medium to large system integration projects. Global also partners with Compaq, Dell, Hewlett-Packard and Cisco, and is a Microsoft Certified Solution provider, Lotus Premier Team Provider and is a distributor of JBA International E.R.P. company.
Its wholly-owned subsidiary, eHOLA.com Online Service Network (www.ehola.com), is the first integrated Internet access service and Spanish language content portal available to Spanish-speaking individuals in North, Central and South America. The network provides consumer and business dial-up and dedicated internet access to 300 cities throughout 13 countries, and is available to 85 percent of the "wired" population in the U.S., Mexico, Argentina, Brazil, Colombia, Chile, Venezuela, Peru, Ecuador, Guatemala, El Salvador, Costa Rica and Panama. With more than 220 local POP's and monthly subscriptions as low as $9 per month, the eHOLA.com network offers a unique entry point for the more than 35 million new Latin American users expected to be online by 2001. eHOLA.com is the first Spanish internet portal providing its own content, as well as access to the internet, offering subscribers the capability of dialing into a local access number without a roaming charge, whether in North, Central or South America. In addition, eHOLA has formed radioeHOLA, a comprehensive addition to the portal with more than 40 Spanish/Portuguese radio stations online. During the past month, the site has registered approximately 300,000 "hits" daily.
Questions regarding this matter may be addressed to Global DataTel attorneys: Jerome M. Selvers, Esq. Sonnenblick, Parker & Selvers, P.C. Freehold Executive Center 4400 Route 9 South PO Box 765 Freehold, N.J. 07723 732-431-1234
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward-looking statements involve the known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from what is anticipated.
lp/ny* rg
CONTACT: Martin E. Janis & Company, Chicago
Bev Jedynak, 312/943-1100 KEYWORD: FLORIDA
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET
COMPUTERS/ELECTRONICS COMED Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
www2.marketwatch.com.
=====
Joseph Charles and Global DataTel Make Joint Announcement
TUESDAY, JUNE 1 1999 4:56 PM EST
BOCA RATON/DELRAY BEACH, FLA. (June 1) BUSINESS WIRE -June 1, 1999-- Joseph Charles & Associates, Inc. and Global DataTel, Inc. (OTCBB: GDIS) jointly announced today that Joseph Charles & Associates has dismissed its lawsuit against Global DataTel, Signature Stock Transfer and Richard Baker, President and Chief Executive Officer of Global DataTel.
sm/ny* al
CONTACT: Martin E. Janis & Company Inc., Chicago
Bev Jedynak, 312/943-1100 KEYWORD: FLORIDA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS
Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.
URL: businesswire.com
www2.marketwatch.com.
-----
For more information concerning GDIS please contact Joseph Charles Legal @ 1-800-284-9995 ext124
josephcharles.com
For more information about Joseph Charles & Assoc., Inc., please visit josephcharles.com
Joseph Charles & Assoc., Inc., is a full service investment banking and securities brokerage. Members N.A.S.D. and S.I.P.C.
-----
Arcane,
Thanks for reminding me. I had forgotten that the second PR you posted had mentioned that the GDIS legal team was in Freehold, NJ, which is a hop, a skip and a jump from Colt's Neck, NJ. At the time, I had wondered why a Boca Raton company being sued by a Boca Raton brokerage would recruit defense lawyers from Freehold, NJ. It should be interesting to note who other clients of this legal team might be...
Oh, and FWIW, I had tracked down the founder (or CEO or whatever) of Joseph Charles (back in May) to guess where??? NJ, where else...
KJC
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Re: Sevenoaks
[Thanks to Kerry]
Well if this is the correct SevenOaks Holding, they weren't hard to find at all. I found some older records in the Florida Division of Corporations.
ccfcorp.dos.state.fl.us
----------------------------------------------------------------------
5/24/99 CORPORATE DETAIL RECORD SCREEN 10:24 PM
NUM: F95000001398 ST:OC INACTIVE/FOREIGN PROF FLD: 03/23/1995
LAST: REVOKED FOR REGISTERED AGENT FLD: 06/26/1998 FEI#: 98-0153751
NAME : SEVENOAKS HOLDINGS LIMITED, INC.
PRINCIPAL: P.O. BOX N8318
ADDRESS: NASSAU BAHAMAS
RA NAME:
RA ADDR:
RESIGNED: 04/14/98
ANN REP: (1996) IN 08/07/96 (1997) B 03/12/97
----------------------------------------------------------------------
5/24/99 OFFICER/DIRECTOR DETAIL SCREEN 10:30 PM
CORP NUMBER: F95000001398 CORP NAME: SEVENOAKS HOLDINGS LIMITED, INC.
TITLE: PDC NAME: KING JOHN E
P.O. BOX CB11512
NASSAU BAHAMAS,
TITLE: VD NAME: CLEARE, ARLENE C
P.O. BOX CB11512
NASSAU BAHAMAS,
TITLE: S NAME: DAVIS JOANNA A
PO BOX N8318 N/A
NASSAU, BA
----------------------------------------------------------------------
5/24/99 EVENT DETAIL SCREEN 10:33 PM
CORP NUMBER: F95000001398 CORP STATUS: INACTIVE
FILED DATE : 03/23/1995
CORP NAME : SEVENOAKS HOLDINGS LIMITED, INC.
EVENT TYPE FILED EFFECTIVE DESCRIPTION
DATE DATE
REVOKED FOR 06/26/1998
REGISTERED AGENT
----------------------------------------------------------------------
If one downloads the document images, then one also gets to see 3 documents, labeled as
#1) Reg. Agent Resignation;
#2) 1996 ANNUAL REPORT;
#3) ANNUAL REPORT
There's not much in the original documents of interest. The signature on the annual reports is quite illegible, but by process of elimination would appear to be that of John E. King. An additional name and address is revealed:
Conchita Pyfrom
P.O. Box N8920
Nassau, Bahamas
Ms. Pyfrom was replaced as Secretary by Ms. Davis on 2/4/97.
The old RA was:
CAPITAL CONNECTION, INC.
417 East Virginia Street, #1
Tallahassee, FL 32301
No reason is given for the resignation of the RA.
There is also a telephone number given for Mr. King at 242-326-xxxx. As I'm not sure if this telephone number is a business number or a home number, I have refrained from posting the last four significant digits.
A further search of the Florida Division of Corporations did not reveal any other businesses that these principals are/were associated with.
Further searches using multiple internet search engines didn't reveal anything more on this topic.
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[Thanks to Arcane Lore]
CyberAmerica issued 600,000 Regulation S shares to a lender named Sevenoaks Holdings (plus additional Reg S shares to three other lenders) as collateral for a $100,000 loan. Like the GDIS Sevenoaks, the Cyberamerica Sevenoaks is a Bahamas corporation.
I wonder if the loan was ever repaid?
ITEM 5. OTHER INFORMATION
Subsequent to the end of the third quarter, the Company issued shares of its Common Stock pursuant to the exemption from registration provided by Regulation S. All shares referenced in this Item have not been adjusted to account for the Company's 1-for-10 reverse stock split effected October 31, 1997. On October 22, 1997, the Company agreed to issue 500,000 shares of Common Stock to Pienne Chow, a resident of Hong Kong, pursuant to Regulation S. As consideration for the 500,000 shares, the Company received $20,000. On October 30, 1997, the Company issued a total of 2,400,000 shares of its Common Stock to four foreign persons pursuant to Regulation S. The Company issued 600,000 shares to Cellini Investments, SA, 600,000 shares to Heathfield Investments Limited, 600,000 shares to Sheffield Holdings Limited, and an additional 600,000 shares to Sevenoaks Holdings Limited. All four of these entities are organized and authorized under the laws of the Bahama Islands. The Company issued these shares to serve as collateral for a $100,000 loan the Company obtained from these collective entities pursuant to separate Note Agreements the company executed with each of the four foreign entities. Each of the loans acquired by the Company pursuant to these Note Agreements bears a floating interest rate of 5% above the prime rate and each loan matures three years from the date the Note Agreements were executed.
sec.gov |
