I hadn't been paying much attention to this company, but the SEC is actively trying to help BMCS recover money for shareholders from some Florida pennystock scumbag who's on the lam offshore.... The company is also adding stores.
SEC Seeks $ 8 Million Judicial Relief for BioTech Medics, Inc. Shareholders
DALLAS, TX, Dec 16, 2008 (MARKET WIRE via COMTEX) -- BioTech Medics, Inc. (PINKSHEETS: BMCS) announced today that U S District Court Tampa Justice Elizabeth A. Kovachevich has signed an Securities & Exchange Commission Emergency Order against Jeffrey G. Turino, formerly of Clearwater, now hiding offshore.
The SEC has requested that 1) Turino be held in Contempt of Court for violating a prior five-year ban on participating in penny stock offerings; 2) all of Turino's assets be frozen; and 3) assets of related parties to Turino be frozen.
The SEC is seeking over $8 million in disgorgement that should eventually be refunded in part to BioTech Medic's shareholders.
Keith Houser, CEO, said: "This is fabulous news for the legitimate shareholders of BioTech. Since 2005 we noticed discrepancies and we notified the SEC. Turino did not have shares in his name but used an elaborate scheme of shell corporations, a network of offshore brokers and accomplices to defraud BioTech. We have been cooperating with the SEC Enforcement, FINRA and the FBI in identifying those parties who have allegedly benefited by illegally manipulating BioTech stock. We are encouraged SEC Enforcement is taking action against those who allegedly received ill-gotten gains at the expense of legitimate BioTech shareholders. This is just the tip of the iceberg of funds owed BioTech."
"We want to stress to the public that BioTech Medics, the current officers and directors of the Company are NOT under any known investigation. There are other former and current shareholders that are the subject of investigation," said Mr. Houser. "BioTech did not receive any 504 funding from Turino or from the parties mentioned in Justice Kovachevich's Order."
BioTech is poised to be a part of the $126 Billion Pain Management industry. Our goal is to have 100 or more BioTech L3aser(TM) Centers operating nationwide. BioTech has finalized a strategic franchise alliance that will put BioTech on fast-track.
BioTech Medics has developed proprietary pain management protocols utilizing patented FDA 510(k) cleared, high powered, deep penetrating, medical therapeutic lasers for reducing or eliminating muscular, skeletal, nerve and/or arthritic pain over the entire body. The procedures are drug-free, quick (15 to 30 minutes) safe and non-invasive. BioTech has affiliated centers operating in Dallas, Kansas City (Overland Park), Albuquerque and Santa Fe, NM. A new center is pending in Newport Beach, California.
BioTech's advantage over competition is their proprietary protocols for the high-powered therapeutic medical lasers that the patient feels healing their body. Most competitors use "cold lasers" that operate with 5,000 to 12,000 times less power. Patients cannot feel a cold laser.
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