HQuotient Software C.E.O. Douglas Cohn has been accused of accounting irregularities by the Internet financial watchdog publication Our-Street.Com. The company's annual financial report and first quarterly financial report are so overdue that the company-which formerly traded on the OTC-BB under the symbol HQNT-was thrown off the OTC-BB and now trades on the Pink Sheets. The company's Transfer Agent has been gagged, so investors do not have access to one of the most fundamental pieces of data about a stock-its outstanding share count. Cohn repeatedly announced a "dividend" to paid in NYSE, AMEX, or NASDAQ shares, but instead issued unlisted HQNT shares as the shareholder dividend. The stock is trading at a fifty two week low, dealing investors who bought at its PR driven high of $2.54 a share a 75% loss. Cohn's response to these developments?
File a SLAPP suit against a Max Jones, a 70 year old former HQNT stockholder and persistent critic of the company on the Raging Bull stock message board service.
The suit is doubly ironic in that Jack Anderson, the famed investigative journalist and free speech advocate was, until recently, an HQNT Board of Directors member. Anderson shares authorship of his Washington Merry Go-Round syndicated column with Cohn.
To his credit Max refused to be intimidated by Cohn's suit with its unfounded allegations of short selling conspiracies that are more worthy of the National Inquirer than filings in a court of law. Max has retained counsel through the use of borrowed funds and is defending himself against this legal travesty.
But those funds will soon be gone, and Max simply does not have the resources to continue his defense-the reason we suspect that he was Cohn's target. In addition, Max suffers from a heart condition which may be exacerbated the financial stress of defending himself against this unfounded and irresponsible suit.
Which brings us to the point, and the bottom line. We want you to give money to defray the costs of Max's defense. We want you to stand up for freedom of speech, and oppose penny stock companies that choose to deal with their critics through suing them rather than refuting them.
We are the crew at the private Internet community Lefty's Bar and Grill.org, a group of concerned citizens who volunteer their time and money to conduct research on the financial wild west that makes up the OTC-BB and Pink Sheet quotation services. We share the results of our research with regulatory agencies, on stock message boards, and through periodic publication of company-specific reports. We receive no compensation for our services, and we neither buy nor sell stocks that we focus on.
LB&G.org is hosting this internet appeal as a public service. All donations will go directly to a trust account under the control of Max's defense counsel, and 100% of the proceeds will go toward necessary legal expenses.
Do you believe in Freedom of Speech? Do you believe in it enough to skip happy hour for a week and send a hundred bucks to defend it? Or even a day, and send twenty? "Jigfish" is fighting this battle, but he needs your support.
So donate!
Not convinced? Check out what Max is being sued for saying by Jack Anderson's co-columnist Doug Cohn, CEO of HQuotient Software. Or if you want more detailed information email the gang at Lefty's.
Just don't have the cash? Then e-mail the Texas and Virginia ACLU about this case and urge them to help.
mailto:info@aclutx.org
mailto:acluva@aol.com
leftysbarandgrill.org
leftysbarandgrill.org
DONATION INSTRUCTIONS-All donations will be credited to a trust account dedicated specifically to receiving and disbursing funds for Max's legal expenses. Donations are NOT tax deductible. In the event there are more funds received than are necessary for Max's defense, surplus funds will be donated to an Internet free speech advocacy group of Max's choosing, but not under any circumstances to include LG&G.org.
Funds may be donated by direct wire transfer, or by check via US Mail. To wire transfer funds use the following instructions:
Bank of America
5405-301-08 routing number
004-1294-24-204 Account Number
For mail donations, use the following address:
Wehner and York, P.C.
11860 Sunrise Valley Dr.
Suite 100
Reston, VA 20191
Make your check payable to Wehner and York, and indicate in the legend entry Max Jones Trust Account.
Still have questions? Feel free to e-mail Max's attorney directly. But please do this only if you plan on donating. Attorneys charge for their time.. |
