Re: 12/12/02 - 1/13/03 - [ESMT] PR: e-Smart to Continue 'Business-as-Usual' While Responding to SEC Allegations; American Business Journals: e-Smart contests SEC allegations; SEC: SEC Suspends trading in e-Smart; SEC: SEC institutes proceedings against e-smart Technologies, Inc.
e-Smart to Continue 'Business-as-Usual' While Responding to SEC Allegations
January 13, 2003 2:54:00 PM ET
Warns Against False 'Third-Party' Information Disseminated Via the Internet
SAN JOSE, Calif., Jan 13 /PRNewswire-FirstCall/ -- e-Smart Technologies, Inc. (OTC Pink Sheets: ESMT) ("e-SMART" or the "Company") announced that it is currently preparing its response to the SEC's inquiry and investigation wherein it has been alleged by the SEC that:
QUOTE...
e-Smart has failed to comply with Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Exchange Act Rule 10b-5 by filing materially false and misleading reports with the Commission, by making materially false and misleading claims in press releases, postings on the e-Smart website, and in statements made directly to investors and potential investors concerning, among other things, e-Smart's results of operations, contractual relationships, ownership of technology assets, and projected revenues and profits; and
e-Smart failed to comply with Section 13(a) of the Exchange Act and Exchange Act Rules 12b-20, 13a-1 and 13a-13 while its common stock was registered with the Commission in that it filed materially false and misleading reports with the Commission, and has failed to file required annual and quarterly reports.
...UNQUOTE.
On December 12, 2002, trading in e-Smart's stock was temporarily suspended by the SEC due to the above allegations.
With the exception of being late in its periodic filings under the Exchange Act, e-Smart emphatically denies each and every allegation made by the SEC. The Company is in the process of retaining legal counsel in this matter and, as will vigorously contest the allegations. e-Smart has full confidence that this matter will be resolved favorably.
e-Smart is also concerned about false and misleading rumors and misinformation that has been distributed to the public via the Internet by sources outside the company -- in fact, primarily by professed competitors of e-Smart. The Company urges our shareholders and the investment community not to act upon such incorrect or misleading information.
e-Smart has been and shall continue to move forward with its business plan of getting its products to market as quickly and as efficiently as possible. e-Smart has full faith in the Company's technology. e-Smart foresees no change to its marketing or production plans by virtue of the SEC's action.
e-Smart now has a new address and contact numbers:
Address: 1810 Old Oakland Road, Suite F, San Jose, California 95131
Phone: 408-321-0408 Facsimile: 408-321-0409
e-Mail: sales@e-smarttechnologies.com
Safe Harbor Statement:
Statements in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. While these statements are made to convey to the public the Company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent the management's opinion. While management believes such representations to be true and accurate based on information available to the Company at this time, actual results may differ materially from those described.
For further information, contact the Company.
© 2003 PRNewswire
news.moneycentral.msn.com
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January 13, 2003
e-Smart contests SEC allegations
San Jose's e-Smart Technologies, Inc., which makes a type of biometric identification card, says accusations against it by the Securities and Exchange Commission are wrong.
The SEC says e-Smart, which used to be headquartered in New York City, has filed materially false and misleading reports with the commission by making materially false and misleading claims in press releases and postings on the e-Smart Web site, and in statements made directly to investors and potential investors concerning, among other things, e-Smart's results of operations, contractual relationships, ownership of technology assets, and projected revenues and profits.
The SEC also says e-Smart failed to comply with various rules while its common stock was registered with the commission in that it filed materially false and misleading reports with the Commission, and has failed to file required annual and quarterly reports.
"With the exception of being late in its periodic filings under the Exchange Act, e-Smart emphatically denies each and every allegation made by the SEC," the company says.
The company also says false and misleading rumors, and misinformation about it, have been found on the Internet. It says the postings were by sources outside the company.
e-Smart blames unnamed competitors.
© 2003 American City Business Journals Inc.
sanjose.bizjournals.com
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U.S. Securities and Exchange Commission
Securities Exchange Act of 1934
Release No. 46990 / December 12, 2002
The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading of the securities of e-Smart Technologies, Inc. ("e-Smart") (stock symbol ESMT), of New York, New York, at 9:30 a.m. EST on Friday, December 13, 2002, and terminating at 11:59 p.m. EST on Friday December 27, 2002.
The Commission temporarily suspended trading in the securities of e-Smart because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, e-Smart's results of operations, contractual relationships, ownership of technology assets, and projected revenues and profits, and the market for the securities of e-Smart.
The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to e-Smart's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
If any broker-dealer or other person has any information which may relate to this matter, they should immediately communicate it to Richard C. Sauer of the Division of Enforement of the Securities and Exchange Commission at (202) 942-4777.
sec.gov
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC
SECURITIES EXCHANGE ACT OF 1934
RELEASE NO. 47005 / December 16, 2002
ADMINISTRATIVE PROCEEDING
FILE NO. 3-10977
SEC INSTITUTES PROCEEDINGS AGAINST e-SMART TECHNOLOGIES, INC.
The United States Securities and Exchange Commission announced today that it has instituted administrative proceedings against e-Smart Technologies, Inc., formerly known as Plainview Laboratories ("e-Smart"), to determine whether the registration of the securities of e-Smart should be suspended or revoked. e-Smart is a Nevada corporation that purportedly produces, among other things, a "smart-card:" a small card capable of storing personal data and confirming the cardholder's identity through the use of a fingerprint sensor incorporated into the card.
The Order is based on allegations by the Division of Enforcement that:
e-Smart has failed to comply with Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Exchange Act Rule 10b-5 by filing materially false and misleading reports with the Commission, by making materially false and misleading claims in press releases, postings on the e-Smart website, and in statements made directly to investors and potential investors concerning, among other things, e-Smart's results of operations, contractual relationships, ownership of technology assets, and projected revenues and profits; and
e-Smart failed to comply with Section 13(a) of the Exchange Act and Exchange Act Rules 12b-20, 13a-1 and 13a-13 while its common stock was registered with the Commission in that it filed materially false and misleading reports with the Commission, and has failed to file required annual and quarterly reports.
A hearing before an administrative law judge will be scheduled, pursuant to Section 12(j) of the Exchange Act, to determine: whether the above allegations are true and to afford the Respondent an opportunity to establish any defenses to such allegations; and whether the registration of the common stock of e-Smart should be suspended or revoked.
sec.gov
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By: sc1ca
17 Jan 2003, 01:02 PM EST Msg. 1437 of 1439
New PR and Contact Info
From Silicon Valley Biz journal:
sanjose.bizjournals.com
PR states;
BEGIN
"The company also says false and misleading rumors, and misinformation about it, have been found on the Internet. It says the postings were by sources outside the company.
e-Smart blames unnamed competitors"
END
It would be worthwhile if they defined "rumors" and "misleading information".
We certainly hope that information posted on this BB by non competitive poster copying excerpts from Public Domain websites and Press releases reflecting;
- awarded and official patent claims
- Publicly awarded tenders for projects in US and abroad
do not constitute a "false and misleading rumors" or fall under ESMT's statement above. It will be interesting to see how ESMT claims their onboard biometric sensor card does not conflict with fingerprint.se patent.
Although ESMT states they have Trademarked "Super Smart Card" has ESMT claimed they have patents or filed for around this super technology?
Also of note; Contact info posted on Tamio's "Big Bang Technology, Inc" offices are duplicates, in part that ESMT claims as their offices, take a look as some addresses match up to old and new ESMT PR's, Hmmm?
San Jose
New York
Las Vegas
Hawaii
bbtus.com
Also curious, why have we not seen a statement from the stated, "Chairman of the Board" of ESMT, Terry Christensen?
ragingbull.lycos.com |
