OK, so just what does the SEC statement mean for us who still hold paper?
In terms of providing a material benefit to those who still hold paper, it won't do anything: No disgorgement or penalties apparently were obtained in this settlement with two relatively minor figures - the SEC announcement (http://www.sec.gov/enforce/adminact/33-7812.htm ) characterizes Burton and Cox as "figurehead officers and directors of the company". AFAIK disgorgement and penalties remain a possibility in the case of the parties who have not yet settled: Robert G. Weeks, Kenneth L. Weeks, and David A. Hesterman ( see sec.gov ). In theory, if disgorgement was obtained from these defendants, there might be some restitution to DACQ holders. Judging from the relative rarity with which disgorgement plans are mentioned in the SEC Digest, I suspect the odds of a shareholder seeing any money from this source are very poor. With this caveat (plus the ones at the beginning of the following referenced post), you may wish to read #11798992 which provides more information about disgorgement.
In terms of stock price, it also probably means nothing since the market has already rendered a verdict. According to one data source (http://qs-alt.secapl.com/cgi-bin/qs ), the stock last traded at $0.001 on March 22, 2000. As you probably know, DACQ went from the OTCBB to the Pink Sheets on 11/4/99 (see otcbb.com ). |
