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 : SANI-TECH INDUSTRIES INC. (SNTS) -- Ignore unavailable to you. Want to Upgrade?

To: Coral4pH_dot_com who wrote (240)	12/16/1998 6:28:00 PM
From: Glenn Davis	Read Replies (1) \| Respond to of 389

Sure would like an early Christmas present on this one! Would love to hear if there is a new group behind this one and just what they intend to do with the company, if indeed they have a business plan in mind! Not in too deep but in far enough to make some bucks if it ever takes off!

To: Coral4pH_dot_com who wrote (240)	12/17/1998 9:33:00 PM
From: ISOMAN	Read Replies (1) \| Respond to of 389

-------------------- BEGINNING OF PAGE #1 ------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 14760 / December 18, 1995 Accounting and Auditing Enforcement Release No. 741 / December 18, 1995 SEC v. SANI-TECH INDUSTRIES, INC., STANLEY J. WASSERMAN and GERALD M. KUDLER, C.A. 94-4535 (ADS) U.S.D.C., E.D.N.Y. NEW YORK -- The United States Securities and Exchange Commission (Commission) today announced that, on November 30, 1995, the Honorable Arthur D. Spatt, United States District Judge for the Eastern District of New York, entered a Final Judgment of Permanent Injunction by Consent against Gerald M. Kudler (Kudler). The Final Judgment enjoins Kudler from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, as well as Rule 13b2-1. Kudler consented to the Final Judgment without admitting or denying the allegations in the Commission's Complaint, which was filed on September 27, 1994. The Final Judgment also orders disgorgement and prejudgment interest in the amount of $23,000 but waives the payment of the disgorgement and prejudgment interest based on Kudler's demonstrated inability to pay. Based on Kudler's demonstrated inability to pay, the Final Judgment does not impose civil penalties. The Complaint alleges that Kudler violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, the antifraud provisions, by preparing false and misleading annual and quarterly reports for Sani-Tech Industries, Inc. (Sani-Tech), which were then filed with the Commission. Among other things, the Complaint alleges that Kudler prepared the financial statements which were included in Sani-Tech's annual reports and then purported to audit these same financial statements through Auditors and Consultants, Inc. (A&C), an accounting firm owned by Kudler. The Complaint also alleges that Kudler, through A&C, issued audit opinions on Sani-Tech's financial statements which were also included in Sani-Tech's annual reports, representing that Sani-Tech's financial statements had been prepared in accordance with generally accepted accounting principles (GAAP) and that they had been audited by a certified public accountant, when, in fact, Sani-Tech's financial statements were not presented in accordance with GAAP and neither Kudler nor A&C were certified public accountants. The Complaint also alleges that Kudler violated Rule 13b2-1 promulgated under the Exchange Act because he falsified the books and records of Sani-Tech.

To: Coral4pH_dot_com who wrote (240)	12/17/1998 9:43:00 PM
From: ISOMAN	Respond to of 389

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Litigation Rel. No. 14943 / June 11, 1996 Accounting and Auditing Enforcement Release No. 792 / June 11, 1996 SEC v. SANI-TECH INDUSTRIES, INC., STANLEY J. WASSERMAN and GERALD M. KUDLER C.A. 94-4535 (ADS) U.S.D.C., E.D.N.Y. The United States Securities and Exchange Commission (Commission) announced that, on February 9, 1996, the Honorable Arthur D. Spatt, United States District Judge for the Eastern District of New York, entered a Final Judgment of Permanent Injunction by Consent against Stanley J. Wasserman (Wasserman). The Final Judgment enjoins Wasserman from violations of Sections 5(a) and 5(c) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, as well as Rule 13b2-1. Wasserman consented to the Final Judgment without admitting or denying the allegations in the Commission's Complaint, which was filed on September 27, 1994. The Final Judgment also bars Wasserman from serving as an officer or director of a public company and orders disgorgement and prejudgment interest in the amount of $213,437 but waives the payment of the disgorgement and prejudgment interest and does not impose civil penalties based on Wasserman's demonstrated inability to pay. The Complaint alleges that, among other things, Wasserman sold millions of shares of Sani-Tech Industries, Inc. (Sani-Tech) common stock while there was no registration statement in effect or filed with the Commission and without complying with any of the available exemptions from registration; made material misrepresentations and omissions in various annual and quarterly reports filed by Sani-Tech relating to Sani-Tech's financial condition; falsified Sani-Tech's books and records; and misappropriated funds from Sani-Tech.

To: Coral4pH_dot_com who wrote (240)	12/17/1998 9:51:00 PM
From: ISOMAN	Read Replies (2) \| Respond to of 389

PUBLIC ADMINISTRATIVE PROCEEDINGS PURSUANT TO RULE 102(e) INSTITUTED AND SETTLED AGAINST GERALD KUDLER The Commission instituted and settled public administrative proceedings pursuant to Rule 102(e) of the Commission's Rules of Practice against Gerald M. Kudler. In anticipation of the institution of the public administrative proceedings, Kudler has submitted an Offer of Settlement which the Commission has determined to accept. In his Offer, Kudler consents to the issuance of an Order by the Commission permanently denying him the privilege of appearing or practicing as an accountant before the Commission. Kudler consents to the issuance of such an Order by the Commission without admitting or denying the findings, except that he admits the issuance of an injunction against him on November 30, 1995 in SEC v. Sani-Tech Industries, Inc., et al., C.A. No. 94-4535 (ADS) (E.D.N.Y. filed September 27, 1994) (LR-14760) for violations of the antifraud provisions of the federal securities laws and the prohibition against the falsification of an issuer's books and records. (Rel. 34-36598; AAE Rel. 740) FINAL JUDGMENT ISSUED AGAINST GERALD KUDLER The Commission announced today that Gerald M. Kudler, a defendant in a civil action filed by the Commission in the United States District Court for the Eastern District of New York on September 27, 1994, has consented to the entry of a permanent injunction. Kudler, formerly the accountant for Sani-Tech Industries, Inc., was charged with preparing false and misleading annual and quarterly reports for Sani-Tech, which were then filed with the Commission. Among other things, the complaint alleges that Kudler issued audit opinions on Sani-Tech's financial statements which were included in Sani-Tech's annual reports, falsely representing that Sani-Tech's financial statements had been prepared in accordance with generally accepted accounting principles (GAAP) and that they had been audited by a certified public accountant. The Court's Order enjoins Kudler from further violations of the antifraud provisions and the prohibitions against falsifying an issuer's books and records, and orders disgorgement plus prejudgment interest in the amount of $23,000, but waives the payment of disgorgement and prejudgment interest based on Kudler's demonstrated inability to pay. Based on Kudler's inability to pay, the Order does not impose civil penalties. [SEC v. Sani-Tech Industries, Inc., et al., Civil Action No. 94-4535, ADS, EDNY] (LR-14760; AAE Rel. 741)