| From: anniebonny | 4/10/2008 6:24:56 PM | | | | | | SEC v. Headstart Advisers Limited
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20524 / April 10, 2008
SEC v. Headstart Advisers Limited, 08 CV 3484 (DAB) (SDNY)
Commission Files Fraud Charges Against United Kingdom-Based Hedge Fund Adviser for Defrauding United States Mutual Funds Through Late Trading and Deceptive Market Timing
The Securities and Exchange Commission today filed a civil action in the U.S. District Court for the Southern District of New York against United Kingdom-based hedge fund adviser Headstart Advisers Limited (HAL) and its "Chief Investment Adviser," Najy N. Nasser. The complaint alleges that HAL and Nasser orchestrated a scheme to defraud mutual funds in the United States and their shareholders through late trading and deceptive market timing. HAL's advisory client, Headstart Fund Ltd., obtained approximately $198 million in illicit profits through this scheme, at the expense of U.S. mutual funds and their shareholders. The Commission named the Headstart Fund as a relief defendant.
The Commission's complaint names the following defendants/relief defendant:
HAL is an investment adviser based in London, England. During the relevant period, HAL served as the investment adviser to Headstart Fund. HAL was formerly known as Folkes Asset Management Ltd.
Nasser, age 39, is a resident of the Principality of Monaco. Nasser joined HAL in 1997 and has served as HAL's Chief Investment Adviser. Nasser is currently HAL's sole director. Nasser is a graduate of the London School of Economics with a master's degree in accounting and finance.
Headstart Fund was incorporated in the Bahamas in December 2001 as an open-ended company with limited liability.
The Commission's complaint alleges the following. From approximately September 1998 through September 2003, HAL actively traded U.S. mutual funds through Headstart Fund's accounts at numerous broker-dealers in the United States. HAL routinely engaged in late trading of U.S. mutual funds. HAL placed orders on behalf of its client, the Headstart Fund, to buy, redeem, or exchange mutual fund shares after the 4:00 p.m. Eastern Time (ET) market close while still receiving the current day's mutual fund price. This illegal practice enabled Headstart Fund to profit — at the expense of other shareholders in the U.S. mutual funds — from market events that occurred after 4:00 p.m. ET, but that were not reflected in the price that Headstart Fund paid for the mutual fund shares.
HAL and Nasser also used deceptive techniques to market time U.S. mutual funds. For example, HAL opened numerous accounts on behalf of Headstart Fund at various U.S. broker-dealers, and split Headstart Fund trades among multiple accounts to keep the size of the trades below a certain threshold that mutual funds monitored in order to conceal the extent of Headstart Fund's trading from U.S. mutual fund companies. HAL also used multiple accounts so that when a U.S. mutual fund company detected Headstart Fund's market timing and informed the U.S. broker-dealers through whom the trades had been placed to stop, HAL would simply transfer funds to a new brokerage account of which the U.S. mutual fund company was not yet aware, and then resume market timing within the same U.S. mutual fund company.
HAL, Nasser, and Headstart Fund benefited from this late trading and deceptive market timing at the expense of other shareholders in the U.S. mutual funds. Headstart Fund earned illicit profits of approximately $198 million from its late trading and deceptive market timing of U.S. mutual funds. HAL and Nasser obtained ill-gotten gains from the late trading and deceptive market timing scheme through, among other things, their receipt of performance and management fees for managing the Headstart Fund.
As a result of this conduct, HAL and Nasser violated Section 17(a) of the Securities Act of 1933, and violated, or aided and abetted violations of, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5. The complaint seeks as relief a final judgment: (i) permanently enjoining HAL and Nasser; (ii) ordering HAL, Nasser, and the Headstart Fund to disgorge their ill-gotten gains and to pay prejudgment interest; and (iii) imposing civil money penalties against HAL and Nasser.
SEC Complaint in this matter
sec.gov |
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| From: anniebonny | 4/10/2008 6:42:10 PM | | | | | | Shane Traveller
Do you think that SEC action will restrict Shane's activity in the Truks and Caicos Islands???
Javelin/Peacock/Traveller/Sequoia International/GRXI/UCOI/Turks and Caicos Islands
By: anniebonny in FAKE | Recommend this post (0)
Sun, 25 Nov 07 2:19 PM
Boardmark this board | Franklin, Andrews, Kramer & Edelstein Msg. 06265 of 08975
Bet there was one heck of a meeting in TCI!!!!
November 20, 2007 - 9:10 AM EST
GTREX Capital Announces CEO Attendance at Environmental Conference in Support of Acquisition Strategy
GTREX Capital, Inc. (OTCBB: GRXI), a holding company with subsidiary operations in the travel distribution industry, today announced that Steven R. Peacock, consultant chief executive officer for the company, is attending an environmental conference hosted by the government of the Turks and Caicos Islands at which he is exploring additional acquisition opportunities for GTREX Capital. Gary Nerison, chairman of the company's Board of Directors, is attending the event with Mr. Peacock.
....
___________
Item 3.02 Unregistered Sales of Equity Securities.
From September 30, 2004 through March 30, 2005 Unico issued convertible
debentures ("Debentures") aggregating approximately $625,000 to Reef Holding,
Ltd. and approximately $467,500 to Kentan Limited Corp. that were unpaid, and in
default, as of February 9, 2006. The holders of the convertible debentures had
assigned portions of the Debentures to Blue Marble Investments, Outboard
Investments, Umbrella Holdings and Yanzu, Inc. Because Unico, Incorporated
failed to pay the Debentures when due, a total of ten (10) lawsuits were filed
by these Debenture holders against Unico, Incorporated in the Twelfth Circuit
(State) Court in Florida (Case Nos. 2006-CA-003385-NC, 2006-CA-001230-NC, 2006-
CA-001825-NC, 2006-CA-003067-NC, 2006-CA-001229-NC, 2006-CA-002111-NC, 2006-CA-
002597-NC, 2006-CA-003068-NC, 2006-CA-004264-NC and 2006-CA-003851-NC).
The Debentures provided that the principal amount and accrued interest were
convertible, at the option of the holders of the Debentures, into Unico's common
stock at a price per share equal to 50% of the closing bid price of Unico's
common stock as quoted on the OTC Bulletin Board on the immediately preceding
trading day prior to the notice of conversion.
Unico agreed to settle each action by issuing shares of its common stock to the
plaintiffs using a valuation of approximately 14% to 20% of the then existing bid
price of Unico, Incorporated common stock. These shares were issued pursuant to
Section 3(a)(10) of the Securities Act of 1933, as amended, after a hearing with
notice to, and an opportunity to be heard from, interested parties, as to the
fairness of each transaction, by a state court in Florida which specifically
determined, prior to declaring that the transactions were exempt under Section
3(a)(10), that the transactions were fair to the interested parties.
From February 9, 2006 until May 12, 2006, in connection with the exercise of
conversion rights by the holders of the Debentures and pursuant to the
litigation settlements, Unico issued an aggregate of 4,400,668,554 shares of its
common stock.
As a result of the foregoing events, shares of Unico's common stock were issued
to one or more of the Debenture holders on the following dates and in the
following amounts:
1. February 9, 2006 - 173,835,653 shares
2. March 2, 2006 - 325,804,830 shares
3. March 9, 2006 - 371,875,000 shares
4. March 23, 2006 - 526,704,636 shares
5. April 6, 2006 - 566,195,754 shares
6. April 14, 2006 - 599,041,095 shares
7. April 27, 2006 - 1,209,091,038 shares
8. May 11, 2006 - 628,120,548 shares
There were no underwriters involved in any of the stock issuances described
above, and there were no underwriting discounts or commissions paid. The stock
in each transaction was issued pursuant to Section 3(a)(10) of the Securities
Act of 1933 as "securities issued in exchange for one or more bona vide
outstanding securities, claims or property interests . . . where the terms and
conditions of such issuance and exchange are approved, after a hearing upon the
fairness of such terms and conditions . . . ."
As of the date of this report, there are now 4,899,096,450 shares of Unico's
common stock issued and outstanding.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
UNICO, INCORPORATED
(Registrant)
Date: June 5, 2006 By: /s/ Mark Lopez
Mark Lopez
Chief Executive Officer
______________
Blue Marble Investments
BCM Cape Building
Leeward Highway
Providenciales
Turks and Caicos, BWI
Telephone: (649) 946-4514
Attn: Claudette Rigby, President
_________
Reef Holdings Ltd
BCM Cape Building
Leeward Highway
Providenciales
Turks and Caicos, BWI
Attn: Dale Peters
___________
Kentan Limited Corp.
BCM Cape Building
Leeward Highway
Providenciales
Turks and Caico. BMI
Att; Hugh O'neil
Telephone 649-946-4314
____________
I can pretty much guess where the other debenture holders are located - Yanzu, Outboard, Umbrella.
____________
And then we have all the Sequoia International debentures for the other Javelin companies - as addressed by the Derbs:
Posted by: DERBENSKI
In reply to: None
Date:11/21/2007 1:50:26 AM
Post #of 446
Javelin Play: Focus GRXI
Every once and a while a company will release a PR that leaves folks scratching their heads thinking “What the…..” Today was just one of those days and the company was none other than GTREX Capital, Inc. (GRXI)
Apparently, the CEO – Stephen R. Peacock - is looking for acquisitions for its subsidiary, Global Travel Exchange. Now get ready for this….By attending an environmental conference in the Turks and Caicos Islands! The conference is called, "Fostering a Green Culture in Small Island Nations,"
Now many of you are probably having a hard time trying to link up what a travel technology executive is doing attending an environmental conference. You should not feel alone, From reading the stock message board, nobody else seemed to get it either.
So is Mr. Peacock going SCUBA diving and deep sea fishing at an exotic island resort on the backs of GRXI shareholders? Most likely not. My guess is that there is some additional business included and the environmental conference is a secondary issue. In fact, it appears to be more like cover.
So what up? Here is my take. After Mr. Peacock’s company, Javelin Advisory Group got caught up in the “free trading share” BDC disaster, they had been looking for another loophole in the law. Apparently they found one, in Section 3(a)10 of the securities law.
Utilizing this loophole, Javelin Advisory Group companies have been issuing unregistered shares in lawsuit type settlements in the State of Florida, 12th Circuit courtroom in sunny Sarasota.
Starting in the fourth quarter of 2006, all of the Javelin Advisory affiliated companies have had claims filed against them for defaulted debt, which is settled at around 1/5 of market price on the defaulted debt. The plaintiff? In all cases it was Sequoia International.
In a true case of penny stock genius, nobody seemed to have the foresight to realize that it might look slightly strange if all the companies you were involved in were getting sued by the same entity.
Worse, a lawsuit posted by an investor on a stock message board exposed Shane Traveller signing as the representative of this Sequoia entity. This same signature also appeared on a Javelin managed company FCCN, this time as the CEO of Sequoia International.
So who is Shane Traveller? Shane is Steve Peacock’s long time partner in Javelin Advisory Group, who at least by printed report, had left Javelin at around mid year 2006. Shane currently resides as the interim CFO for FCCN.
So if the real reason for zipping off at the last minute to Turks and Caicos is not primarily related to the travel industry, what could be the other business being attended to? Here is a little tidbit. Sequoia is listed as having an address in the Turks and Caicos. So are numerous other entities that have used this same exclusion to obtain unregistered shares with Javelin Advisory Group related companies.
My guess is that other entities will start appearing utilizing the same legal exclusion other than Sequoia International with Javelin involved companies in the near future.
Here are the lawsuit lists against mostly Javelin involved companies along with today’s press release appended below.
Sequoia International
Case Number Uniform Case Number Party 1 / Plaintiff Party 2 / Defendant Filing Date Case Type
2007 CA 013222 NC
582007CA0132220000NC SEQUOIA INTERNATIONAL INC WELL RENEWAL INC 11/1/2007 Contract and Indebtedness - Circuit
2007 CA 012192 NC
582007CA0121920000NC SEQUOIA INTERNATIONAL INC FRANCHISE CAPITAL CORPORATION 10/11/2007 Contract and Indebtedness - Circuit
2007 CA 011858 NC
582007CA0118580000NC SEQUOIA INTERNATIONAL INC ACTIONVIEW ADVERTISING SYSTEMS INC 10/4/2007 Contract and Indebtedness - Circuit
2007 CA 011532 NC
582007CA0115320000NC SEQUOIA INTERNATIONAL INC HAZ HOLDINGS INC 9/27/2007 Contract and Indebtedness - Circuit
2007 CA 011147 NC
582007CA0111470000NC SEQUOIA INTERNATIONAL INC DOLL TECHNOLOGY GROUP INC 9/19/2007 Contract and Indebtedness - Circuit
2007 CA 011148 NC
582007CA0111480000NC SEQUOIA INTERNATIONAL INC TECHALT INC 9/19/2007 Contract and Indebtedness - Circuit
2007 CA 011040 NC
582007CA0110400000NC SEQUOIA INTERNATIONAL INC WELL RENEWAL INC 9/18/2007 Contract and Indebtedness - Circuit
2007 CA 010262 NC
582007CA0102620000NC SEQUOIA INTERNATIONAL INC FRANCHISE CAPITAL CORPORATION 8/30/2007 Contract and Indebtedness - Circuit
2007 CA 010212 NC
582007CA0102120000NC SEQUOIA INTERNATIONAL INC ACTIONVIEW ADVERTISING SYSTEMS INC 8/29/2007 Contract and Indebtedness - Circuit
2007 CA 008978 NC
582007CA0089780000NC SEQUOIA INTERNATIONAL INC WELL RENEWAL INC 8/1/2007 Contract and Indebtedness - Circuit
2007 CA 008979 NC
582007CA0089790000NC SEQUOIA INTERNATIONAL INC ACTIONVIEW ADVERTISING SYSTEMS INC 8/1/2007 Contract and Indebtedness - Circuit
2007 CA 008284 NC
582007CA0082840000NC SEQUOIA INTERNATIONAL INC HAZ HOLDINGS INC 7/18/2007 Contract and Indebtedness - Circuit
2007 CA 007086 NC
582007CA0070860000NC SEQUOIA INTERNATIONAL INC HAZ HOLDINGS INC 6/20/2007 Contract and Indebtedness - Circuit
2007 CA 005891 NC
582007CA0058910000NC SEQUOIA INTERNATIONAL INC WELL RENEWAL INC 5/23/2007 Contract and Indebtedness - Circuit
2007 CA 005892 NC
582007CA0058920000NC SEQUOIA INTERNATIONAL INC CLX INVESTMENT COMPANY INC 5/23/2007 Contract and Indebtedness - Circuit
2007 CA 005515 NC
582007CA0055150000NC SEQUOIA INTERNATIONAL INC WELL RENEWAL INC 5/16/2007 Contract and Indebtedness - Circuit
2007 CA 004918 NC
582007CA0049180000NC SEQUOIA INTERNATIONAL INC HYDROFLO INC 5/2/2007 Contract and Indebtedness - Circuit
2007 CA 004009 NC
582007CA0040090000NC SEQUOIA INTERNATIONAL INC HYDROFLO INC 4/12/2007 Contract and Indebtedness - Circuit
2007 CA 002774 NC
582007CA0027740000NC SEQUOIA INTERNATIONAL INC S3 INVESTMENT COMPANY INC 3/14/2007 Contract and Indebtedness - Circuit
2007 CA 002114 NC
582007CA0021140000NC SEQUOIA INTERNATIONAL INC GLOBAL TRAVEL EXCHANGE INC 2/27/2007 Contract and Indebtedness - Circuit
2006 CA 011599 NC
582006CA0115990000NC OUTBOARD INVESTMENTS
SEQUOIA INTERNATIONAL INC UNICO INCORPORATED 12/6/2006 Contract and Indebtedness - Circuit
Unico Incorporated, a Javelin involved company.
Case Number Uniform Case Number Party 1 / Plaintiff Party 2 / Defendant Filing Date Case Type
2007 CA 010209 NC
582007CA0102090000NC COMPASS CAPITAL GROUP INC UNICO INCORPORATED 8/29/2007 Contract and Indebtedness - Circuit
2007 CA 010210 NC
582007CA0102100000NC OUTBOARD INVESTMENTS LTD UNICO INCORPORTED 8/29/2007 Contract and Indebtedness - Circuit
2007 CA 007088 NC
582007CA0070880000NC OUTBOARD INVESTMENT LTD
COMPASS CAPITAL GROUP INC UNICO INCORPORATED 6/20/2007 Contract and Indebtedness - Circuit
2007 CA 005180 NC
582007CA0051800000NC OUTBOARD INVESTMENTS LTD
COMPASS CAPITAL GROUP INC UNICO INCORPORATED 5/8/2007 Contract and Indebtedness - Circuit
2007 CA 002497 NC
582007CA0024970000NC OUTBOARD INVESTMENTS LTD UNICO INCORPORATED 3/7/2007 Contract and Indebtedness - Circuit
2007 CA 001026 NC
582007CA0010260000NC OUTBOARD INVESTMENTS LTD UNICO INCORPORATED 1/30/2007 Contract and Indebtedness - Circuit
2006 CA 011599 NC
582006CA0115990000NC OUTBOARD INVESTMENTS
SEQUOIA INTERNATIONAL INC UNICO INCORPORATED 12/6/2006 Contract and Indebtedness - Circuit
2006 CA 011600 NC
582006CA0116000000NC COMPASS CAPITAL GROUP INC UNICO INCORPORATED 12/6/2006 Contract and Indebtedness - Circuit
2006 CA 010492 NC
582006CA0104920000NC UMBRELLA HOLDINGS
BLUE MARBLE INVESTMENTS
KENTAN LIMITED CORP
REEF HOLDINGS LTD
OUTBOARD INVESTMENTS
YANZU INC UNICO INCORPORATED 11/1/2006 Contract and Indebtedness - Circuit
2006 CA 010169 NC
582006CA0101690000NC REEF HOLDINGS LTD CORP
KENTAN LIMITED CORP
YANZU INC UNICO INCORPORATED 10/25/2006 Contract and Indebtedness - Circuit
2006 CA 010171 NC
582006CA0101710000NC COMPASS CAPITAL GROUP UNICO INCORPORATED 10/25/2006 Contract and Indebtedness - Circuit
2006 CA 010172 NC
582006CA0101720000NC UMBRELLA HOLDINGS UNICO INCORPORATED 10/25/2006 Contract and Indebtedness - Circuit
2006 CA 010173 NC
582006CA0101730000NC OUTBOARD INVESTMENTS UNICO INCORPORATED 10/25/2006 Contract and Indebtedness - Circuit
2006 CA 009619 NC
582006CA0096190000NC COMPASS CAPITAL GROUP INC UNICO INCORPORATED 10/12/2006 Contract and Indebtedness - Circuit
2006 CA 009620 NC
582006CA0096200000NC KENTAN LIMITED CORP
REEF HOLDINGS LTD CORP BLUE MARBLE INVESTMENTS UNICO INCORPORATED 10/12/2006 Contract and Indebtedness - Circuit
2006 CA 009621 NC
582006CA0096210000NC REEF HOLDINGS LTD UNICO INCORPORATED 10/12/2006 Contract and Indebtedness - Circuit
2006 CA 009020 NC
582006CA0090200000NC OUTBOARD INVESTMENTS
KENTAN LIMITED CORP
UMBRELLA HOLDINGS
BLUE MARBLE INVESTMENTS
REEF HOLDINGS LTD
YANZU INC UNICO, INCORPORATED 9/26/2006 Contract and Indebtedness - Circuit
2006 CA 008312 NC
582006CA0083120000NC COMPASS CAPITAL GROUP INC UNICO INCORPORATED 9/7/2006 Contract and Indebtedness - Circuit
2006 CA 008313 NC
582006CA0083130000NC BLUE MARBLE INVESTMENTS
KENTAN LIMITED CORP UNICO INCORPORATED 9/7/2006 Contract and Indebtedness - Circuit
2006 CA 008314 NC
582006CA0083140000NC REEF HOLDINGS LTD UNICO INCORPORATED 9/7/2006 Contract and Indebtedness - Circuit
2006 CA 008091 NC
582006CA0080910000NC UMBRELLA HOLDINGS AND OUTBOARD INVESTMENTS
KENTAN LIMITED CORP
YANZU INC
BLUE MARBLE INVESTMENTS UNICO INCORPORATED 8/31/2006 Contract and Indebtedness - Circuit
2006 CA 008094 NC
582006CA0080940000NC KENTAN LIMITED CORP
REEF HOLDINGS LTD UNICO INCORPORATED 8/31/2006 Contract and Indebtedness - Circuit
2006 CA 007516 NC
582006CA0075160000NC COMPASS CAPITAL GROUP UNICO INCORPORATED 8/17/2006 Contract and Indebtedness - Circuit
2006 CA 007517 NC
582006CA0075170000NC YANZU INC
OUTBOARD INVESTMENTS
BLUE MARBLE INVESTMENTS
UMBRELLA HOLDINGS
KENTAN LIMITED CORP
REEF HOLDINGS LTD CORP UNICO INCORPORATED 8/17/2006 Contract and Indebtedness - Circuit
2006 CA 004264 NC
582006CA0042640000NC YANZU INC
REEF HOLDINGS LTD CORP
BLUE MARBLE INVESTMENTS
KENTAN LIMITED CORP
OUTBOARD INVESTMENTS
UMBRELLA HOLDINGS UNICO INCORPORATED 5/10/2006 Contract and Indebtedness - Circuit
2006 CA 003851 NC
582006CA0038510000NC REEF HOLDINGS LTD
YANZU INC
UMBRELLA HOLDINGS
OUTBOARD INVESTMENTS
BLUE MARBLE INVESTMENTS
KENTAN LIMITED CORP UNICO INCORPORATED 4/27/2006 Contract and Indebtedness - Circuit
2006 CA 003385 NC
582006CA0033850000NC BLUE MARBLE INVESTMENTS
REEF HOLDINGS LTD CORP
YANZU INC
OUTBOARD INVESTMENTS
UMBRELLA HOLDINGS UNICO INCORPORATED 4/13/2006 Contract and Indebtedness - Circuit
2006 CA 003067 NC
582006CA0030670000NC YANZU INC
UMBRELLA HOLDINGS
OUTBOARD INVESTMENTS
BLUE MARBLE INVESTMENTS
REEF HOLDINGS LTD
KENTAN LIMITED CORP UNICO INCORPORATED 4/5/2006 Contract and Indebtedness - Circuit
2006 CA 003068 NC
582006CA0030680000NC YANZU INC
KENTAN LIMITED CORP
OUTBOARD INVESTMENTS
UMBRELLA HOLDINGS
REEF HOLDINGS LTD CORP
BLUE MARBLE INVESTMENTS UNICO INCORPORATED 4/5/2006 Contract and Indebtedness - Circuit
2006 CA 002597 NC
582006CA0025970000NC REEF HOLDINGS LTD CORP
BLUE MARBLE INVESTMENTS
KENTAIN LIMITED CORP
OUTBOARD INVESTMENTS
UMBELLA HOLDINGS
YANZU INC UNICO INCORPORATED 3/23/2006 Contract and Indebtedness - Circuit
2006 CA 002111 NC
582006CA0021110000NC UMBRELLA HOLDINGS
OUTBOARD INVESTMENTS
REEF HOLDINGS LTD
BLUE MARBLE INVESTMENTS
YANZU INC UNICO INCORPORATED 3/9/2006 Contract and Indebtedness - Circuit
2006 CA 001825 NC
582006CA0018250000NC UMBRELLA HOLDINGS
YANZU INC
KENTAN LIMITED CORP
REEF HOLDINGS LTD
BLUE MARBLE INVESTMENTS
OUTBOARD INVESTMENTS UNICO INCORPORATED 3/1/2006 Contract and Indebtedness - Circuit
2006 CA 001229 NC
582006CA0012290000NC YANZU INC
BLUE MARBLE INVESTMENTS
REEF HOLDINGS LTD
UMBRELLA HOLDINGS
OUTBOARD INVESTMENTS UNICO INCORPORATED 2/9/2006 Contract and Indebtedness - Circuit
2006 CA 001230 NC
582006CA0012300000NC KENTAN LIMITED CORP
COMPASS CAPITAL GROUP INC UNICO INCORPORATED 2/9/2006 Contract and Indebtedness - Circuit
______________
Sequoia International, Inc
Leeward Hwy, Providenciales
Turks & Caicos Islands
____________
|
| | Anthony @ Equity Investigations, Dear Anthony, | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
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| From: anniebonny | 4/10/2008 7:04:19 PM | | | | | | Shane Traveller - AERP - Aero Performance
Wonder how long it will be before he steps down???
CERTIFICATION OF CHIEF FINANCIAL OFFICER
I, Shane Traveller, certify that:
1. I have reviewed this quarterly report on Form 10-QSB of Aero Performance
Products, Inc.;
(2) Based on my knowledge, this report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report;
(3) Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as
of, and for, the periods presented in this report;
(4) The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
registrant and have:
(a) Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and
(d) Disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the registrant's most recent
fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual
report) that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; and
(5) The registrant's other certifying officer(s) and I have disclosed, based on
our most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control over
financial reporting.
Date: February 13, 2008 By: /s/ Shane Traveller
Shane Traveller, Chief Financial Officer |
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| To: anniebonny who wrote (103278) | 4/10/2008 8:47:34 PM | | From: StockDung | | | | Shane H. Traveller Investor Relations:Geoffrey Eiten
------------------------------------------
Aussie Apparel Forms Independent Board Of Directors; Forms New Audit Committee
LOS ANGELES, June 4, 2003 (PRIMEZONE) -- Aussie Apparel Group Ltd. (OTCBB:AASI) announced today that it has restructured its board of directors resulting in a majority of its directors becoming independent. The new board of directors, which will be presented to the shareholders for ratification at the next shareholder meeting, now consists of three members, two of whom are independent. Mr. Bruce MacGregor, President & CEO of Aussie Apparel, will continue in his position as Chairman of the board of directors.
The two new individuals appointed to the board, effective May 31, 2003, are Shane H. Traveller and Scott Battenburg. Ms. GiGi Carrano, who had served as company secretary, resigned from the board of directors, also effective May 31, 2003. Ms. Carrano will continue her role as an executive assistant to the board and management team. The Company also announced that the board of directors has formed an Audit Committee consisting of Mr. Traveller and Mr. Battenburg, with Mr. Traveller serving as the Audit Committee Chairman. The newly formed Audit Committee will be responsible for confirming and working with the Company's independent auditor and will have an active role in ensuring that the financial statements accurately reflect the financial conditions of the Company.
Bruce MacGregor, Aussie Apparel's President & CEO, said, "I am pleased that we have been able to attract an independent board of directors of such high caliber. While very few Bulletin Board companies have voluntarily put an independent board of directors in place, we felt it would assist the company in maintaining its drive for excellence at every level. The full implementation of our plan requires that we surround ourselves with a team that has significant financial and operational expertise. By creating a seasoned and independent board of directors we put another strong brick into the foundation of our company which is a critical step in ensuring the continued trust of all of our shareholders."
Mr. Shane H. Traveller is a Certified Public Accountant who has served on several boards of directors and is presently also the Audit Committee Chairman for San Diego Soccer Development Corporation. Mr. Traveller previously served as President and Chief Operating Officer of Trimedyne, Inc., a medical device manufacturer, after serving as that company's Chief Financial Officer. Prior to Trimedyne, he was the co-founder and Chief Financial Officer of Pyro Shield, Inc., and Chief Financial Officer of Worldwide Investment Network, Inc. Mr. Traveller gained his public accounting experience working for Arthur Andersen, LLP and Corbin & Wertz, LLP, after obtaining his accounting degree from Brigham Young University.
Mr. Scott Battenburg is the Director of Financial Planning and Analysis for Virgin Entertainment Group, Inc., where he is responsible for financial and strategic planning as well as risk and inventory management. Before joining Virgin Entertainment, Mr. Battenburg was Chief Financial Officer of Razor USA, LLP and, before that, was Vice President of Financial Planning for The Money Store. Mr. Battenburg also held several positions with LA Gear, Inc., the last of which was Director of Sales and Marketing Analysis. Mr. Battenburg previously worked for KPMG Peat Marwick and has a degree in business administration from California Polytechnic State University, San Luis Obispo, CA.
About Aussie Apparel Group, Ltd.
Aussie Apparel Group is an emerging growth apparel company focused on the rapidly growing extreme-sports apparel market, both domestically and internationally, utilizing a multi-branded and multi-distribution channel approach. According to Sporting Goods Intelligence, the US sports apparel market was an estimated $19.08 billion at wholesale in 2002. The Company currently owns four brands, including Hot Tuna, which is focused on the surfing enthusiast, Xisle, a mid-tier label that targets both the surf and skate market, and Piranha Boy and Piranha Girl, directed at the children's market with surf inspired apparel for the mass-market. For more information visit: aussieapparelgroup.com.
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.
CONTACT: For Aussie Apparel Group, Ltd.
Investor Relations:
Geoffrey Eiten
(781) 444-6100, ext. 613
geiten@otcfn.com
Company information:
(562) 983-8045
info@aussieapparelgroup.com
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Keywords: TEXTILES, MANAGEMENT CHANGES |
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| To: StockDung who wrote (103283) | 4/10/2008 9:06:19 PM | | From: anniebonny | | | | "February 28, 2005 James B. Terrell and Shane H. Traveller gave resignation letters"..
SECTION 5 - CORPORATE GOVERNANCE AND MANAGEMENT
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
On February 28, 2005 James B. Terrell and Shane H. Traveller gave resignation letters to the Board of Directors of 21st Century Technologies, Inc (the "Company"). The Company accepted their resignations on March 4, 2005. James B. Terrell served as Chairman of the Board of Directors and Shane H. Traveller served as Chairman of the Audit Committee of the Board of Directors.
Further details are disclosed in the press release attached as Exhibit 99.1 to this report and the resignation letters from James B. Terrell and Shane H. Traveller attached as Exhibit 99.2 and 99.3, respectively.
________
EXHIBIT 99.1
DIRECTORS TERRELL AND TRAVELLER RESIGN FROM 21ST CENTURY TECHNOLOGIES, INC.'S BOARD
Las Vegas, Nev. - March 7, 2005 - 21st Century Technologies, Inc. (the "Company") (OTC: TFCY.PK) today announced that James B. Terrell and Shane H. Traveller have resigned from the Company's Board of Directors. Mr. Terrell served as Chairman of the Board and Mr. Traveller served as Chairman of the Audit Committee.
John R. Dumble, President and Chief Executive Officer of the Company, said, "I am deeply appreciative of the contributions made by Jim Terrell and Shane Traveller during their tenure on the Company's Board of Directors. With their counseling, the Company was able to achieve several of its objectives as a business development company. While I am saddened to see these gentlemen go, I respect their desire to bring new faces onto the Board to help Shepard the Company through the coming months."
The Company is a business development company operated pursuant to the Investment Company Act of 1940. It holds various enterprises as investments and seeks to grow companies in which it has an interest.
Statements that are not historical facts contained in this press release are forward-looking statements that involve certain risks and as are further detailed in the Company's filings with the Securities and Exchange Commission.
Contact:
Gemini Financial Communications
A. Beyer, 951-693-4534 (10 a.m.-12 p.m. PT Mon.-Fri.) ir@texn.com
209.85.173.104
*****************
Obviously didn't stop him from being involved in all those other companies (Steve Peacock/Javelin/BEYER) related companies). I wonder if this was about the time he changed the address for Sequoia International? It used to be in the US and changed to the TURKS and CAICOS Islands. |
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| From: StockDung | 4/11/2008 1:21:06 PM | | | | | | OVERSTOCK FACES SUIT
Bloomberg
April 11, 2008 -- Overstock.com Inc., the Internet seller of discounted brand-name goods, and Chief Executive Officer Patrick Byrne will be sued for libel by Gradient Analytics Inc., the research firm said.
Gradient was defamed by Overstock.com and Byrne in retaliation for research that criticized the retailer's financial performance, Gradient said in an e-mailed statement.
Gradient will file the complaint when it gets final permission to do so from a California state court judge in San Francisco, spokeswoman Karen Hinton said yesterday in a voicemail message. Earlier yesterday, Hinton said the suit had been filed.
"These bullies have spent two and a half years hiding in the locker room to avoid having to back up their words," Byrne said yesterday in an e-mail. "Now that they've been dragged by their heels kicking and screaming into the ring, they bounce up and begin pounding their chests."
Overstock.com fell $1.31, or 9.3 percent, to close at $12.81. |
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| From: StockDung | 4/11/2008 2:01:58 PM | | | | | | Accused fraudster banned from trading
canada.com
Chris Purdy, The StarPhoenix
Published: Friday, April 11, 2008
Any stock market bans issued out of a pending U.S. securities trial cannot be imposed across the border on alleged fraudster Urban Casavant.
But a previous order issued by the Saskatchewan Financial Services Commission (SFSC) remains in effect, banning the Prince Albert man from dealing securities in the province.
An order preventing Casavant's former diamond mining company, CMKM Diamonds Inc., from selling shares is also in place in Manitoba.
The Alberta Securities Commission held a hearing Wednesday seeking a reciprocal order. That decision is pending.
Casavant, a 51-year-old former prison guard and U-haul franchise owner in Prince Albert, was among 11 people charged earlier this week with fraud and other offences by the U.S. Securities and Exchange Commission (SEC).
The SEC alleges the group conspired to illegally sell billions of shares of unregistered CMKM stock, stealing at least $64 million from 40,000 investors around the world between 2003 and 2005.
The company claimed to hold mineral rights in the Fort a la Corne region east of Prince Albert and sent out phony media releases about its discoveries.
Casavant, running the scheme out a home in Las Vegas, allegedly pocketed $31.5 million and blew most of the money on a lavish lifestyle that included high-roller gambling at casinos.
He resigned from the company in 2007 and returned to Canada.
"He's totally wrongly accused," Casavant's brother Victor said from his home in Vegreville, Alta. on Thursday.
He refused to comment further on the case.
Victor Casavant was sanctioned in Alberta in 1995 for improperly distributing securities from his company Striker Minerals Ltd. He returned $60,000 to one shareholder and paid a $1,000 fine.
The SEC and SFSC both issued temporary cease-trade ordered against Casavant and CMKM in 2004. The following year, Saskatchewan extended its order indefinitely and the SEC issued a final order de-registering the company's stock.
The current SEC charges relate to a civil case seeking fines and the return of what's left of the stolen investment money.
The SEC is also seeking an order preventing Casavant from acting as an officer or director of any public company in the U.S.
chpurdy@sp.canwest.com
© The StarPhoenix (Saskatoon) 2008 |
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| From: StockDung | 4/11/2008 3:55:52 PM | | | | | | Herbalife Shares Drop on Fraud Claims
Herbalife Shares Fall After Fraud Discovery Institute Alleges Fraud
April 11, 2008: 03:24 PM EST
NEW YORK (Associated Press) - Shares of Herbalife Ltd., which sells nutritional supplements and weight-loss products, dropped Friday after a San Diego-based investigator leveled allegations of fraud against the company.
Shares fell $3.51, or 7.2 percent, to $45.09 in afternoon trading.
Barry Minkow, who now runs the Fraud Discovery Institute after serving a sentence for fraud at his own former company ZZZZ Best Co., released a list of "top 10 red flags for fraud" at Herbalife. The "flags" include senior managers allegedly dumping stock, high supervisor turnover and saturation in the market.
In the report on his Web site, Minkow said he reported to the Securities and Exchange Commission this month that he was shorting the stock to finance his investigation of Herbalife in China and produce You Tube videos of "Herbalife victims." By shorting the stock, Minkow bet the price would decline.
The Institute has accused the company of fraud before, saying Herbalife was operating a pyramid scheme and illegally recruiting distributors in mainland China.
Herbalife spokesman George Fischer said the company stands by the statement it released in November when Minkow made his initial accusation. The statement states "we have confidence in our direct-selling business model, our integrity and transparency as a NYSE-listed company and the fundamentals of our business."
Although investors appeared to be listening to the latest round of allegations Friday, Goldman Sachs analyst Simeon Gutman said in a note to investors he does not view the accusations as "troubling."
He said Herbalife discloses its supervisor turnover rate every year and nearly all insider selling was done with pre-planned 10b5-1 trading plans. Those plans allow a company insider to set up a program in advance for buying or selling shares and proceed with them even if he or she comes into possession of material nonpublic information.
Gutman said he was surprised by the share price drop but added the company's upcoming first quarter earnings report may give investors a reason to forget the allegations.
"In our view, the most effective refutation to any allegation is continued strong operating results," Gutman said.
The analyst said he expects the company to report earnings higher than investors expect |
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