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Microcap & Penny Stocks : Amazon Natural (AZNT) -- Ignore unavailable to you. Want to Upgrade?

To: Janice Shell who wrote (22198)	4/9/1999 6:57:00 PM
From: Bill Ulrich	Read Replies (3) \| Respond to of 26163

Quiel And Montal Discuss Clintonisms? or I Really Don't Hold Them But I Really Still Do— It Depends On How You Define "Current License"… Q. Okay. Mr. Quiel, when did you start consulting for 4 Amazon? 5 A. I believe it was in August or September of '97. 6 Q. So that was right around the time that the SEC affirmed 7 your disciplinary violation and sanction; is that correct? 8 A. Which disciplinary action and violation? 9 Q. Is there more than one? 10 A. I don't know what you're referring to. 11 Q. Well, let me show you a document. 12 MR. MONTAL: Your Honor, this has been marked as 13 exhibit 60 and I would like to move it into evidence. 14 THE COURT: Do you have any objection to it being 15 received? 16 MR. LANDISH: No, I do not. 17 THE COURT: It will be received. It's number 60? 18 MR. MONTAL: Correct, your Honor. 19 (Thereupon, Defense Exhibit 60 was moved into evidence.) 20 BY MR. MONTAL: 21 Q. Are you familiar with this order from the Securities and 22 Exchange Commission? 23 A. Oh, yes. 24 Q. And this is the one in which they affirmed a disciplinary 25 finding, a disciplinary violation finding against you? ASSOCIATED REPORTERS OF NEVADA (702) 382-8778 QUILL - CROSS 213 1 A. Yes. 2 Q. And imposed sanctions of $12,5007 3 A. Yes. 4 Q. And found that you were not forthcoming, fully forthcoming 5 and truthful in connection with an NASD investigation? 6 A. That's the allegations. 7 Q. And that's what the -- that's not just the allegation but 8 that's in fact the finding of the disciplinary board and the 9 affirmance by the Securities and Exchange Commission when you 10 took an appeal. 11 A. Yes. 12 Q. And in connection with that you were suspended for 30 days 13 as a broker, correct? 14 A. That's correct. 15 Q. And the Securities and Exchange Commission also 16 essentially stripped you of your, I believe it is series 27 17 license, correct? 18 A. Incorrect. Not correct. 19 Q. Did they require that you took retake that exam if you 20 wish to practice as a securities principal? 21 A. No. 22 Q. Well, did the SEC affirm that sanction as part of the -- 23 what the NASD had imposed? 24 A. What sanction? 25 Q. Well, the fact that you had to retake the exam for a ASSOCIATED REPORTERS OF NEVADA (702) 382-8778 QUILL CROSS 214 1 series 27 I believe it is? 2 A. Incorrect. 3 Q. Well, why don't you tell us what sanctions the SEC imposed 4 in connection with these violations. 5 A. They wanted me to requalify for my 24 and 7. 6 Q. I see. So it wasn't just the financial principal one, it 7 was actually even the most basic ones as a broker and as a 8 supervisor and manager? 9 A. That's correct. 10 Q. So you had to -- did you retake those exams? 11 A. No. 12 Q. So when you told the Court before when your counsel for 13 plaintiff asked you whether you hold any licenses and you said 14 series 7 and series 24 and 27 and 63, that -- it's not true 15 that you actually hold those licenses today, correct? 16 A. I do. 17 Q. You hold those licenses today? 18 A. Yes. 19 Q. Didn't you just tell us that the Securities and Exchange 20 Commission and the NASD as part of the sanctions that had been 21 imposed require you to resit for those exams but yet you have 22 not done so? 23 A. That's correct. 24 Q. And in your mind you're still licensed as series 7 and 25 series 27, correct? ASSOCIATED REPORTERS OF NEVADA (702) 382-8778 QUILL - CROSS 215 1 A. It's inactive but I'm still licensed. And I do have to 2 requalify if I choose to go back in business. 3 Q. Inactive, not by choice. 4 A. No. That's not true. By my choice. 5 Q. By your choice not to retake the exams? 6 A. By my choice because my 27 and my 63 are still in force. 7 Q.Right. But your series 7 and your series 24 are not in 8 force? 9 A. If I requalify they will be. 10 Q. But as of today, sitting here today, you cannot truthfully 11 tell the Court that you are in fact qualified under a series 7 12 and a series 24 license; is that right? 13 A. Okay. Yes. 14 Q. Okay. So if you gave that impression to the Court earlier 15 that was misleading? 16 A. No, I didn't give that impression -- 17 Q. I said if I gave that impression to the Court earlier? 18 THE COURT: Just a moment. One at a time. Ask a 19 question and wait for the question to be asked and then 20 respond. 21 BY MR. MONTAL: 22 Q. If you did give that impression to the Court -- 23 A. I didn't give that impression.