I offer the following post for informational and educational purposes only. It is off topic but interesting reading nonetheless. I own no shares and have no intention of buying any. I have done no real DD on the company and any extra cash I have will be invested in NTEK or NTGL. That being said I also believe it is important to be aware of changes taking place and this PR refers to some of them. Go NTEK!!!
NTERESTING READING.....
GeckoSystems to Use Recent SCOTUS Decision Re: Spoofing GOSY OTC Stock
Print
Alert
CONYERS, GA -- August 23, 2016 -- InvestorsHub NewsWire -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.GeckoSystems.com/) announced today that the benefits from a recent Supreme Court of the United States (SCOTUS) ruling that expands States Rights is of particular relevance and potentially dramatic benefit to their shareholders due to recent, rampant illegal spoofing of the companys stock. For over nineteen years GeckoSystems has dedicated itself to development of "AI Mobile Robot Solutions for Safety, Security and Service(tm)."
This SCOTUS decision is the most significant for companies that are small and technology driven such as GeckoSystems by enabling state courts to have jurisdiction in other states to lower litigation costs for plaintiffs seeking damages for naked shorting, propagating false rumors to depress the company stock price and receive unjust enrichment to garner significant monies. Many of those companies have suffered for years while they have seen their stock manipulated by naked shorting and false rumors, all done to drive the stock price down for excessive and illegal profits to brokerages, such as Merrill-Lynch. On July 10, 2015, GeckoSystems senior management and majority stockholders filed a Georgia Racketeer Influence and Corrupt Organizations (RICO) Act suit in the Rockdale County Superior Court in Conyers, GA. http://tinyurl.com/qhl3uzu
For some years, all of our shareholders and the tens of thousands that hold stock in other stock manipulated (such as spoofing or refusing to sell at Ask to preclude being forced to cover naked short positions) companies have suffered losses due to ongoing stock price manipulation by brokerages large and small. These predatory brokerages, intent on making more money as they false rumor the price down to cover their naked shorts to achieve unjust enrichment, have hidden behind the now pierced veil of only being sued in Federal courts. No doubt, it is readily apparent that this new States Rights affirmation by SCOTUS will be welcomed by the thousands of publicly traded companies preyed upon since they could not afford to initiate and consummate litigation successfully in Federal courts.
Presently we are of information and belief that one on the Defendants in our RICO suit, Neil T. Wallace, in concert with George I. MacLeod, have exploited several market makers possible, but not probable, ignorance of the far reaching impact of this recent SCOTUS decision. Since Mr. MacLeod left the US unexpectedly, we are of information and belief that Mr. Wallace has been, and is one of his domestic fellow racketeers.
For example, KCG Americas and Susquehanna International Group LLP (dba E*trade) have been sued and fined for their illegal activities. Below are a few examples in the links below:
KCG Americas, LLC (NITE)
Class Action Lawsuit against the SEC, FINRA and KCG Holdings
http://tinyurl.com/jnlpf3y
G1 Execution Services, LLC (ETRF)
FINRA investigating E*Trade for potentially rigged markets
http://tinyurl.com/z3etpzw
E*Trade units to pay $2.5 million to settle SEC charges over illegal sales
http://tinyurl.com/h4aff3b
"At this time, we are not 100% sure as to whether these brokerages are knowingly working with these Defendants or not. Nonetheless, they have been contacted regarding the seriousness of our concerns and informed that we believe, with substance, they are assisting MacLeod and Wallace to GeckoSystems shareholders' detriment, summarized Martin Spencer, Founder/CEO, GeckoSystems Intl. Corp.
Naked short sellers squeezed by Supreme Court
Published by AMI Newswire May 16, 2016
In a sweeping blow to Wall Street investment giants, the U.S. Supreme Court today unanimously allowed lawsuits against "naked" short sellers in state courts to proceed.
The high court ruled unanimously that shareholders are not confined to federal court when seeking recourse for securities violations. Granting due deference to the important role of state courts, the Court reinforced federalist principles while clarifying congressional intentions to limit the federal governments role.
The ruling, which could give a new boost to startups and small companies targeted by short sellers, showed a rare moment of ideological agreement in the court. Justice Elena Kagan authored the Courts opinion, and Justice Clarence Thomas, joined by Justice Sonia Sotomayor, issued a concurrence.
In 2012, businessman Greg Manning sued Merrill Lynch and other financial institutions in New Jersey state court for purposefully devaluing his company through systematic naked short-selling a term used to describe selling a stock a seller does not own and has not borrowed. In standard short sales, traders either borrow a stock or make sure that it can be borrowed prior to selling it short in the hope that its value will fall before the transaction must be covered.
The practice has come under increasing scrutiny and has been banned in Germany and other major economies.
Read more: http://tinyurl.com/jgz257w
The complete SCOTUS opinions are here: http://www.supremecourt.gov/opinions/15pdf/14-1132_4g15.pdf
Continuing from the article Naked short sellers squeezed by Supreme Court: (Underlines added below for emphasis.)
While legitimate short-selling remains an accepted financial practice, manipulation by false rumors and naked short-selling has taken a serious toll on emerging industries. Biotechnology industry insiders have for years pleaded with the SEC to block the illegal short selling and false whisper campaigns that plague the industry. Smaller technology-driven companies frequently lack the resources to deal with attacks that drive down stock prices, crippling research and development budgets.
Read more: http://tinyurl.com/jgz257w
Heres some excerpts from our most recent GA RICO filing:
FACTS
6.
Neil T. Wallace is an associate of Mr. George I. MacLeod who, upon information and belief, has vigorously orchestrated naked short selling of the Plaintiffs stock for many years. Mr. MacLeod resides in the UK at an unknown location from the U.S. Securities authorities. It is believed that he and Bette Wallaces son, Reed Wallace, were involved in similar stock manipulation schemes regarding Sushi Trend. Reed Wallace was sued by Sushi Trend for illegal use of their restricted stock and they received a Default Judgment against him. (U.S. District Court District of Nevada case #07CV1129.)
7.
Neil Wallace, brother of Reed Wallace, has spread false information about the Plaintiffs company on the internet, to the courts, its attorneys and in numerous correspondences at times using his parents and family to assist in these efforts directly and indirectly. His public disparagement of the company has put false rumors, and therefore doubts, in the minds of the Plaintiffs business associates, potential customers, attorneys, and stock investors.
The complete filing and all exhibits are here: http://tinyurl.com/gou7bcf
"This recent Supreme Court ruling has occurred at a very propitious time for us. As one can read in the foregoing, our company has been subjected to adverse stock price manipulation for some years. We are of the belief that this Wallace group has committed many predicate acts constituting RICO and cost our shareholders several millions of dollars in ROI due, in part, to the literally thousands of false rumors they have posted on several stock message boards to drive the share price down. In the last few years we believe they have successfully caused a panic on our stock, pushing us below a penny a share.
"Since our stock price moved up recently, from $.008 to $.014, those holding the massive GOSY short position are particularly motivated to continue their naked shorting practice or face covering costs that could cause them to fail to cover and flirt with financial insolvency, if not outright bankruptcy. Given that they have now spoofed the high of over $.02 down to $.0069, we seem to have no choice but add these market makers to our RICO lawsuit. Our 1300+ shareholders can continue to be confident that we expect to be signing numerous multi-million-dollar licensing agreements to further substantiate and delineate the reality that GeckoSystems will further increase shareholder value as has occurred this past week," concluded Spencer.
NTERESTING READING.....
GeckoSystems to Use Recent SCOTUS Decision Re: Spoofing GOSY OTC Stock
Alert
CONYERS, GA -- August 23, 2016 -- InvestorsHub NewsWire -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.GeckoSystems.com/) announced today that the benefits from a recent Supreme Court of the United States (SCOTUS) ruling that expands States Rights is of particular relevance and potentially dramatic benefit to their shareholders due to recent, rampant illegal spoofing of the companys stock. For over nineteen years GeckoSystems has dedicated itself to development of "AI Mobile Robot Solutions for Safety, Security and Service(tm)."
This SCOTUS decision is the most significant for companies that are small and technology driven such as GeckoSystems by enabling state courts to have jurisdiction in other states to lower litigation costs for plaintiffs seeking damages for naked shorting, propagating false rumors to depress the company stock price and receive unjust enrichment to garner significant monies. Many of those companies have suffered for years while they have seen their stock manipulated by naked shorting and false rumors, all done to drive the stock price down for excessive and illegal profits to brokerages, such as Merrill-Lynch. On July 10, 2015, GeckoSystems senior management and majority stockholders filed a Georgia Racketeer Influence and Corrupt Organizations (RICO) Act suit in the Rockdale County Superior Court in Conyers, GA. http://tinyurl.com/qhl3uzu
For some years, all of our shareholders and the tens of thousands that hold stock in other stock manipulated (such as spoofing or refusing to sell at Ask to preclude being forced to cover naked short positions) companies have suffered losses due to ongoing stock price manipulation by brokerages large and small. These predatory brokerages, intent on making more money as they false rumor the price down to cover their naked shorts to achieve unjust enrichment, have hidden behind the now pierced veil of only being sued in Federal courts. No doubt, it is readily apparent that this new States Rights affirmation by SCOTUS will be welcomed by the thousands of publicly traded companies preyed upon since they could not afford to initiate and consummate litigation successfully in Federal courts.
Presently we are of information and belief that one on the Defendants in our RICO suit, Neil T. Wallace, in concert with George I. MacLeod, have exploited several market makers possible, but not probable, ignorance of the far reaching impact of this recent SCOTUS decision. Since Mr. MacLeod left the US unexpectedly, we are of information and belief that Mr. Wallace has been, and is one of his domestic fellow racketeers.
For example, KCG Americas and Susquehanna International Group LLP (dba E*trade) have been sued and fined for their illegal activities. Below are a few examples in the links below:
KCG Americas, LLC (NITE)
Class Action Lawsuit against the SEC, FINRA and KCG Holdings
http://tinyurl.com/jnlpf3y
G1 Execution Services, LLC (ETRF)
FINRA investigating E*Trade for potentially rigged markets
http://tinyurl.com/z3etpzw
E*Trade units to pay $2.5 million to settle SEC charges over illegal sales
http://tinyurl.com/h4aff3b
"At this time, we are not 100% sure as to whether these brokerages are knowingly working with these Defendants or not. Nonetheless, they have been contacted regarding the seriousness of our concerns and informed that we believe, with substance, they are assisting MacLeod and Wallace to GeckoSystems shareholders' detriment, summarized Martin Spencer, Founder/CEO, GeckoSystems Intl. Corp.
Naked short sellers squeezed by Supreme Court
Published by AMI Newswire May 16, 2016
In a sweeping blow to Wall Street investment giants, the U.S. Supreme Court today unanimously allowed lawsuits against "naked" short sellers in state courts to proceed.
The high court ruled unanimously that shareholders are not confined to federal court when seeking recourse for securities violations. Granting due deference to the important role of state courts, the Court reinforced federalist principles while clarifying congressional intentions to limit the federal governments role.
The ruling, which could give a new boost to startups and small companies targeted by short sellers, showed a rare moment of ideological agreement in the court. Justice Elena Kagan authored the Courts opinion, and Justice Clarence Thomas, joined by Justice Sonia Sotomayor, issued a concurrence.
In 2012, businessman Greg Manning sued Merrill Lynch and other financial institutions in New Jersey state court for purposefully devaluing his company through systematic naked short-selling a term used to describe selling a stock a seller does not own and has not borrowed. In standard short sales, traders either borrow a stock or make sure that it can be borrowed prior to selling it short in the hope that its value will fall before the transaction must be covered.
The practice has come under increasing scrutiny and has been banned in Germany and other major economies.
Read more: http://tinyurl.com/jgz257w
The complete SCOTUS opinions are here: http://www.supremecourt.gov/opinions/15pdf/14-1132_4g15.pdf
Continuing from the article Naked short sellers squeezed by Supreme Court: (Underlines added below for emphasis.)
While legitimate short-selling remains an accepted financial practice, manipulation by false rumors and naked short-selling has taken a serious toll on emerging industries. Biotechnology industry insiders have for years pleaded with the SEC to block the illegal short selling and false whisper campaigns that plague the industry. Smaller technology-driven companies frequently lack the resources to deal with attacks that drive down stock prices, crippling research and development budgets.
Read more: http://tinyurl.com/jgz257w
Heres some excerpts from our most recent GA RICO filing:
FACTS
6.
Neil T. Wallace is an associate of Mr. George I. MacLeod who, upon information and belief, has vigorously orchestrated naked short selling of the Plaintiffs stock for many years. Mr. MacLeod resides in the UK at an unknown location from the U.S. Securities authorities. It is believed that he and Bette Wallaces son, Reed Wallace, were involved in similar stock manipulation schemes regarding Sushi Trend. Reed Wallace was sued by Sushi Trend for illegal use of their restricted stock and they received a Default Judgment against him. (U.S. District Court District of Nevada case #07CV1129.)
7.
Neil Wallace, brother of Reed Wallace, has spread false information about the Plaintiffs company on the internet, to the courts, its attorneys and in numerous correspondences at times using his parents and family to assist in these efforts directly and indirectly. His public disparagement of the company has put false rumors, and therefore doubts, in the minds of the Plaintiffs business associates, potential customers, attorneys, and stock investors.
The complete filing and all exhibits are here: http://tinyurl.com/gou7bcf
"This recent Supreme Court ruling has occurred at a very propitious time for us. As one can read in the foregoing, our company has been subjected to adverse stock price manipulation for some years. We are of the belief that this Wallace group has committed many predicate acts constituting RICO and cost our shareholders several millions of dollars in ROI due, in part, to the literally thousands of false rumors they have posted on several stock message boards to drive the share price down. In the last few years we believe they have successfully caused a panic on our stock, pushing us below a penny a share.
"Since our stock price moved up recently, from $.008 to $.014, those holding the massive GOSY short position are particularly motivated to continue their naked shorting practice or face covering costs that could cause them to fail to cover and flirt with financial insolvency, if not outright bankruptcy. Given that they have now spoofed the high of over $.02 down to $.0069, we seem to have no choice but add these market makers to our RICO lawsuit. Our 1300+ shareholders can continue to be confident that we expect to be signing numerous multi-million-dollar licensing agreements to further substantiate and delineate the reality that GeckoSystems will further increase shareholder value as has occurred this past week," concluded Spencer.
6
