Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO) -- Ignore unavailable to you. Want to Upgrade?

To: David Wolfson who wrote (10011)	10/28/1998 8:29:00 PM
From: Charles A. King	Read Replies (2) \| Respond to of 13091

It is far from decided what steps Bill Carraway must take to satisfy the SEC. The references to him leaving the company came from a 10Q filed earlier in which GRNO published speculation of what the SEC would require. The SEC's request of the court boils down to having Bill "disgorge all ill-gotten gains or unjust enrichment". But Bill replies that although he was entitled to an annual salary, he didn't collect it because the company didn't have it to pay him. Instead he sold his stock in GRNO, much of which he plowed back into the company so that GRNO could pay its bills. Now he has no more to put into GRNO and, because of the behavior of DHEC and the SEC, all the money is gone. If DHEC and the SEC hadn't done what they did, I am certain that GRNO stock would be worth many times, maybe orders of magnitude, more than it trades at now, when it ever trades. So in conclusion, if this thing ever went to trial, Bill would have every statement he makes backed up by rigorous documentation, showing what he has put back into GRNO. The SEC, on the other hand, would be hard pressed to document what they refer to as "ill-gotten gains or unjust enrichment". Charles

To: David Wolfson who wrote (10011)	10/29/1998 6:07:00 AM
From: Bill Fuller	Read Replies (2) \| Respond to of 13091

David Re: "...exactly what will be required of GRNO by the SEC..." Charles very kindly posted the whole thing (msge #9794) previously at Message 5619414 Essentially GRNO promises to go and sin no more. While this may seem light, it essentially makes any further securities law problems a violation of a Federal Court Order, which is even worse than being investigated by the SEC, if such is imaginable. It apparently indicates that the SEC perceived no serious violation by GRNO, the company, as distinct from individuals associated with it. However, to resume trading, current financial statements and appropriate disclosure will certainly be required at the very least. Bill Fuller