The following item was contained in a recent SEC filing for Pet Ecology:
On December 10, 2007 we[Pet Ecology Brands] received a subpoena from the Securities and Exchange Commission to provide information and potential testimony regarding an entity named Axium Technologies, Inc. a company that is unknown to Pet Ecology Brands Inc. or its management. The SEC has requested any documentation and correspondence the Company has with the entity noted as well as an additional sixty four organizations and individuals that were listed in the subpoena, seven of which are known to Pet Ecology Brands Inc. and include the following:
· Our former investor relations firm and its president.
· A former board member of Pet Ecology Brands Inc.
· An investor in Pet Ecology Brands Inc. and corporate entities associated with that investor.
When I learned of this I contacted AXGI and asked what this was all about. The CEO immediately e-mailed me back.
This SEC investigation involves Ron Williams and Tbeck Capital whom AXGI was involved early on when they went public. Ron Williams was arrested in December: cfo.com
The reason AXGI was referenced in the cover letter Pet Ecology received was because they were one of the first stocks the SEC started investigating with regard to Williams' shenanigans. The cover letter says "In the matter of Axium Technologies, Inc." There are many companies who were apparently bitten by Williams and AXGI is confident they did nothing wrong. They just had the misfortune of having their name on the cover letter since they were first in the investigation. They had even considered legal action against Williams at one point, but didn't because of the legal costs involved. AXGI had already provided all documentation to the SEC was not themselves supboenaed in December.
What the SEC wanted from PECD and other companies supboenaed was all communications and documents that went between them and 64 entities listed in the supboena.
Other companies like AXGI who were named in the subpoena were Pet Ecology (PECD.PK), U.S. Starcom (USTA.PK), Trans Global Logistics (TGLI.PK), Straight Up Brands (STRU.PK), Riverdale Oil & Gas (RVDO.PK), Platinum Energy Resources (PGRI.OB), Medirect Latino (MLTO.PK), Interlink Global (ILKG.PK), Bridgetech Holdings Intl (BGTH.PK), Bluefire Ethanol Fuels (BFRE.OB), Advanced Growing Systems (AGWS.PK), Datascension (DSEN.OB), Faceprint Global Solutions (FPRN.PK), IBSG Intl (IBIN.OB) and Remote Surveillance (RSUV.PK). There may be more, but some of the names of the entities aren't easily identifiable as companies vs. financial or other types of outfits.
Again, these companies may not have done anything wrong, but their stocks may have been manipulated by Williams and therefore are part of this investigation. Coincidentally or not, you will find several of the above companies featured on the Wall Street Resources website:
wallstreetresources.net |
