What we have here is the long version of Comparator Systems(IDID)
The SEC action has been the same so far.
This is IDID SEC release....
>>The settlement also provided for the entry of permanent injunction against Robert Reed Rogers, the former Chairman, Chief Executive Officer and Treasurer of the Company and Gregory Armijo, the former Vice President of Operations, Secretary and a director of the Company.
Pursuant to the settlement, Messrs. Rogers and Armijo resigned as officers and directors, however, they continue as consultants to the Company. As reported in the 8-K dated July 5, 1996, Armond Schroeder was named Chief Executive Officer and President and has assumed Mr. Rogers' duties as Chairman of the Board and Mr. Armijo's responsibilities as Vice President of Operations. On August 28,
1996 Ms. Celeste Sim assumed Mr. Armijo's responsibilities as Secretary. On September 30, 1996, the Board appointed Marianne Bedford and Donald Levering directors.
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In my opinion, these are the next steps....we get a few 8-K reports telling us Charles and just about everyone else has resigned, the SEC will fine the WHOLE group including Maria, Walther, Yoder and Raumer and the SOE will appoint a new board of directors and managment. Charles, Maria and Walther should be in really deep chim-kee and I wouldn't be surprised to see jail time for atleast 3 people.
SOE will get a new team to run the business, starting with the heavy stock holders. I have no idea is SOE files for bankruptcy, it all depends on how the SEC works the monies recovered.
Regarding news, what can SOE say? They need to hear from the SEC before they can say anything. Telling us they are working with the SEC again isn't worth the paper. I say plenty of management shifts.
I'm holding 100%, just because this might go back up with time, I'm young, I can wait 10 years if I need to.
Just my .02
Aloha |
