TSPN- ANTI- ANTHRAX DISINFECTANT AND MORE.... Message Board

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Biotech / Medical : TSPN- ANTI- ANTHRAX DISINFECTANT AND MORE....

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To: mtnres who wrote (27)	3/11/2003 10:38:45 PM
From: StockDung	of 29

San Diego exec pleads guilty in anti-anthrax hoax SAN DIEGO (Reuters) - The former chief executive of an obscure California holding company pleaded guilty Tuesday to falsely claiming to have developed an anti-anthrax product during the 2001 U.S. anthrax scare, prosecutors said Tuesday. Federal prosecutors in San Diego said Charles Kallman, CEO of 37Point9 Inc., issued two fake press releases in October 2001 to boost his company's sagging stock price. The press releases claimed that 37Point9 Inc. had developed and tested a product called "SurfaceShield" that killed anthrax and other bacteria, viruses, germs and fungi. The releases stated that a wholly owned subsidiary of 37Point9 had entered into an agreement to enhance SurfaceShield to kill dormant anthrax bacilli before they released their deadly spores. Prosecutors said that the company had entered no such agreement. The spurious announcements sent the trading volume of 37Point9 Inc.'s penny stock soaring by 1,500 percent in Nasdaq over the counter trading, and boosted the stock price by 300 percent, prosecutors said. It was not clear from the statement issued by the U.S. Department of Justice, which prosecuted the case, whether Kallman had profited personally from the scheme. A spokesman was not available for comment. Kallman is scheduled to be sentenced on June 9 in federal court in San Diego. He faces a maximum prison term of 10 years on two securities fraud counts. The company has since changed its name to Global Medical Products Holdings, Inc. and its stock symbol to "GMDP" on the Nasdaq Over The Counter Bulletin Board exchange. The company specializes in "the development, manufacture and distribution of cardiovascular and body-fluid related products for the worldwide market," according to the company Web site. Company officials were unavailable to comment on the case. 03/11/03 19:48 ET

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