PartyTime, Here is how I see it as a outsider looking inside. If Hayton is indeed in control of Zulu-Tek as the first paragraph states it is not good..These statements are fact not fiction, no one is making these up..
Look at October 1997 John T. Sheehan Jr long-term acquaintance of Hayton is suspended for one year for "misappropriated funds". The same pattern Hayton has as indicated in all his dealings outlined in the articles about him. Who are you going to believe? Clinton or the 7 or 8 women or whatever number, it changes daily?
Bottom line, if I had known all this regarding him when I owned PTUSA I would not be out $3500. If you want more evidence go to QDRX thread and read some of the threads, I owned that also, we all thought, as most do on this thread, we had a winner. Today it is .06 and has been for a very long time. Fortunately I got out with a small loss. Again another Company that Hayton had his hands in.
I only wished that someone would have furnished me with the information that you have available in order for me to make a decision.
Some highlights from the career of Pattinson Hayton and Zulu-Tek, the company he purportedly controls.
1983: First American Bank in Nashville wins a US$1 million judgment against Hayton after he defaults on a promissory note.
1985: Zulu-Tek files for incorporation in Utah under the name Premium Inc.; as with all subsequent reports to the state of Utah, the filing discloses no information beyond the names of the company's officers and agent.
January 1987: Premium Inc. files to change its name to Star Medical Corp.; the company lists its type of business as "Miscellaneous."
June 1987: The State of Utah suspends Star Medical's business license for failing to submit an annual report; the company files a month later and is reinstated.
1987: Hayton's US company Palmer Financial Corp. buys a controlling interest in UK investment firm London and Norwich Investment Services, putting Hayton and his partner Neil Miller into the directors' seats. Six months later, the British Chancery Division investigates allegations that "those who acquired control have conducted the company in flagrant breach of Fimbra (Financial Intermediaries Managers and Brokers' Regulatory Association) rules so as to acquire money from the public, and failed to safeguard such money." The Secretary of State for Trade and Industry petitioned to close down the company and an order was made to appoint an official receiver to liquidate the firm. In denying the firm's request to revoke that order, the judge made a point of making the case public "so that the general public can be aware of what has been happening."
1988: The Securities and Exchange Commission files suit in a Washington DC federal court against Hayton, charging that two firms he controls, Palmer Financial Corp. and Galloway Capital Corp., failed to file required financial reports. The court orders Hayton to file the reports, but he does not. The court finds Hayton in contempt and fines him $60,000.
June 1988: The State of Utah again suspends Star Medical for failure to file an annual report. When the company submits the delinquent report in October, listing the nature of company business as "Alcohol and Drug Treatment," its license is reinstated.
1991: The Federal Immigration and Naturalization Service issues a deportation warrant for Hayton, who escapes deportation, however, due to his marriage to a US citizen.
Mid-1994: Hayton's investment firm, Conagher & Co., acquires significant interest in two companies, Apogee Robotics of Fort Collins, Colorado, and Quadrax Corp. of Portsmith, Rhode Island, a developer of thermoplastics. Hayton is appointed chairman of both.
Late 1994: In the months after Hayton assumes Apogee's chairmanship, trading volume in the company's stock skyrockets while the price plummets - down from 75 cents per share to less than 20 cents. Apogee files for bankruptcy. Hayton resigns his chairmanship, threatening to sue Apogee for "massive fraud and misrepresentation as to [its] business and financial condition." Apogee later sues Hayton, winning an award of nearly $3.7 million from a Colorado court, although the company has not been able to collect the damages.
Early 1995: Hayton quits his chairmanship of Quadrax after presiding over losses exceeding $8 million. In an article in the Providence Journal-Bulletin, the incoming Quadrax management fingers Hayton as the main agent behind the losses, releasing a document stating, "(Hayton) directed substantial resources away from the company's core business and into activities that the current management was either unaware of or did not endorse and does not consider indicative of the company's ongoing operations."
Late 1995: Hayton files a defamation suit against Quadrax for accusations made in the Providence Journal-Bulletin, claiming harm to his status as an international businessman. The case is later settled out of court. Neither party paid damages.
1996: Two former directors of Nevada Energy Corp., a Delaware-based alternative-energy company, file suit against the company's new president and board for allegedly diverting $1.2 million in funds for non-corporate purposes. Hayton, though not a board member or named as defendant, is described as the person who orchestrated the diversion through two holding companies he controls, Waterford, based in Ireland, and Golden Chance, on the Isle of Man. According to court documents, Hayton "makes all of Nevada Energy's material business decisions and dominates or controls ... [the defendants] through his control of Waterford and Golden Chance." The case is decided in favor of the plaintiffs on 17 February 1998. Judgment will be made 18 May 1998.
11 August 1997: Star Medical files in Utah to change its name to Netmaster Group. The company lists its registered agent in Utah as Adrian A. Wilson. Wilson is currently a defendant in a pending SEC case alleging that he accepted bribes to promote penny stocks.
14 August 1997: Star Medical announces its name change to Netmaster Group. It also announces the purchase of echoMedia, which a press release describes as "an interactive, multimedia, advertising-services company that specializes in delivering television commercials to the World Wide Web."
October 1997: Netmaster Group files for incorporation in Rhode Island. The company's registering agent is John T. Sheehan Jr., an attorney and self-described long-term acquaintance of Hayton. In 1995, the Rhode Island Supreme Court suspended Sheehan's right to practice law in Rhode Island for one year after he allegedly misappropriated funds in mortgage closing and bankruptcy proceedings. "It is abundantly clear," says the court decision, "that (the) respondent engaged in a course of conduct involving dishonesty. He submitted false statements to the lender that would lead the lender to believe that the loan proceeds had been properly disbursed."
But then again it could be the next Micosoft!!!!!
Good luck.
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