HJOE Good luck KBM, you're going to need it. by c
Post# of 15187
Posted On: 12/29/2015 8:28:24 PM
HJOE Good luck KBM, you're going to need it.
by casey7883 • 7 minutes ago
In the letter, FINRA cited specific factors that led to its determination. Those factors had entirely to do with the company’s reliance on toxic funder, Curt Kramer, for financing. Kramer is well-known in the penny stock marketplace as a toxic dilution funder. In November 2013, the Securities and Exchange Commission (“SEC”) charged Curt Kramer and his Mazuma companies with violating federal securities laws; Kramer settled the charges for $1.4 million.
Consistent with the SEC’s recent action against Kramer, FINRA did not hesitate to identify Kramer as a bad actor, which disqualifies him from some types of market participation.
By virtue of FINRA Rule 6490(d)(3)(3), if the regulator has “actual knowledge that … promoters or other persons connected to the issuer … are the subject of a pending, adjudicated or settled regulatory action or investigation by a federal, state or foreign regulatory agency, or a self-regulatory organization; or a civil or criminal action related to fraud or securities laws violations,” it can reject corporate action requests.
In this case against Curt Kramer, FINRA specifically stated that it:
“has actual knowledge of a November 25, 2013 Securities and Exchange Commission (“SEC”) Cease-and-Desist Order (Administrative Proceeding File No. 3-15621) (“SEC Order”) involving Curt Kramer (“Kramer”), President of Asher Enterprises, a convertible note holder of ECOS.
And who is Asher you ask?
Apr 10, 2015) - Coates International, Ltd. (OTC PINK: COTE) (the "Company"
will never do another transaction with Asher or their new name (KBM Worldwide Inc.) Less
by casey7883 • 7 minutes ago
In the letter, FINRA cited specific factors that led to its determination. Those factors had entirely to do with the company’s reliance on toxic funder, Curt Kramer, for financing. Kramer is well-known in the penny stock marketplace as a toxic dilution funder. In November 2013, the Securities and Exchange Commission (“SEC”) charged Curt Kramer and his Mazuma companies with violating federal securities laws; Kramer settled the charges for $1.4 million.
Consistent with the SEC’s recent action against Kramer, FINRA did not hesitate to identify Kramer as a bad actor, which disqualifies him from some types of market participation.
By virtue of FINRA Rule 6490(d)(3)(3), if the regulator has “actual knowledge that … promoters or other persons connected to the issuer … are the subject of a pending, adjudicated or settled regulatory action or investigation by a federal, state or foreign regulatory agency, or a self-regulatory organization; or a civil or criminal action related to fraud or securities laws violations,” it can reject corporate action requests.
In this case against Curt Kramer, FINRA specifically stated that it:
“has actual knowledge of a November 25, 2013 Securities and Exchange Commission (“SEC”) Cease-and-Desist Order (Administrative Proceeding File No. 3-15621) (“SEC Order”) involving Curt Kramer (“Kramer”), President of Asher Enterprises, a convertible note holder of ECOS.
And who is Asher you ask?
Apr 10, 2015) - Coates International, Ltd. (OTC PINK: COTE) (the "Company"
will never do another transaction with Asher or their new name (KBM Worldwide Inc.) Less
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