I find this very interesting:
SOE AND HUTTOE FILE THE FIRST SET OF MATERIALLY
FALSE AND MISLEADING FORMS S-8
22. On or about December 6, 1995, SOE, under Huttoe's direction,
filed with the Commission eleven materially false and misleading registration
statements on Forms S-8.
23. The millions of shares purportedly registered on the Forms S-8
had already been distributed prior to the filing.
24. Contrary to representations in the Forms S-8, the SOE stock
was distributed to persons who had performed no services for the company that
would qualify the stock for S-8 registration.
25. SOE and Huttoe knew or recklessly disregarded the fact that
these filings were materially false and misleading.
SOE ISSUES MORE UNREGISTERED SHARES
26. SOE, under Huttoe's direction, continued to issue additional
unrestricted, free-trading SOE shares without registering the shares with the
Commission. Commencing on or about December 20, 1995, and continuing at least
through July 26, 1996, SOE issued approximately 35.5 million additional such
unregistered shares.
27. In or around February 1996, as part of this additional
distribution, SOE issued unrestricted, free- trading shares of SOE stock, and a
"note payable," to investors
- 6 -
in a $2.5 million purported "private placement." These shares were distributed
to investors in proportion to the amount of money invested.
28. At the time these shares were issued and distributed, they
were not registered with the Commission.
LOOK AT THE DATES. This S**t started in December of last year !!!! and ran through July 1996. Another thing .... Huttoe only profited a total of $9.7 million ? He didn't pay for the shares in the first place and if he made $5 million during the week of the WCG deal, that leaves only another $4.7 million. He has to have made more then $9.7 million. Also, those bank accounts listed ..... if there is any money in those accounts of substantial amount, Huttoe is brain dead. I wouldn't be surprised if they had only a couple thousand apiece in them. Looks like the SEC will have to go over every trade made during this whole year to find out what went where. Man, that's tough.
On a positive note, it appears SEXI is in the complaint because they are the company invloved and that certain employees took part in the scam. SEC has not frozen SEXI assets and is therefore able to function. If in fact there is a viable, new, somewhat proprietary technology about to be rolled out by SEXI, we may have a chance to make a few sales. If this new technology is "VAR" type technology, I believe that maybe a few sales could happen but wouldn't count on it.
RUMORS RUMORS RUMORS ..... it's amazing that rumors of deals are still floating around. Sprint & Lucent VAR, Missouri, NEC, White House, Saudi Arabia and Thailand. Can't believe people are still pushing this stuff.
The above rumored paragraph is in no way factual to my knowledge. It is not verified and should not be considered as such.
Mike |
