Judge Cook said SFRX must prove that claim, and further said no competent had been presented. Maybe SFRX should cite your post. She ordered a hearing. Notice the use of the word " and " in the last sentence I quoted. They have to prove the Defendant caused damages and SFRX is entitled to damages. Huffman, as anyone who's read his filings before can see, has a hard time with the English language. But SFRX is claiming shareholders lost money and the corporation is entitled to those losses, which Judge Cook thought was ABSURD. As do I. If I were a shareholder I would be outraged at Kyle.
https://www.scribd.com/doc/279243584/Judge-Cook-s-ORDER
When required to respond, per Court Order, Kyle reneged on his claim the company suffered losses. And only pointed to shareholder losses or dilution and not actual damage to the company.
Now see Kyle back track when responding to direct questions. In the original complaint they stated they had 4,000 shareholders. In the answer it's now 6,000.
5. Identify each item of expense or damage that are you claiming in connection with your Motion.
We are uncertain what motion is being contended. An emergency motion was brought before the Court for sanctions for continued posting by the Defendant. Loss of stock/share value to the shareholders of the Corporation. As well as provided on the produced share issuance data as addressed in number 3 and 4 above, the amount of shares issued were greater than what would have been needed to be issued at the lower price of $0.0245 per share, due to the Defendants actions and postings. On July 1, 2014, the share price of the corporation was $0.0245 per share. Due to the postings of the Defendant the stock price to $0.006 per share in October 1, 2014 when the Defendant was still posting libelous matters. Thus Seafarers 6,000 shareholders had a loss in value of $ 15,901,554.00 to their holdings . This is directly attributable to the actions of the Defendant.
14. Identify all contracts and vendors that have been lost by SEC as a result of the postings of Defendant.
There have not been established vendor losses. However, the company did suffer sales of shares that were sold by shareholders. Additionally, the company had to distribute a vast number of shares which were in addition to what would have had to be issued due to the actions of the Defendant. On July 1, 2014, the share price of the corporation was $0.0245 per share. Due to the postings of the Defendant the stock price to $0.006 per share in October 1, 2014 when the Defendant was still posting libelous matters. Thus, the company had to issue three times more shares than it would have had to issue when the price was higher. As an example, if such share price were at $0.024 per share, and the company were selling restricted shares for $10,000, then the company would issue 408,163 shares. However, due to the price declination due to the Defendants postings, when such share price was declined to $0.006 per share, then the company would have to issue 1,666,667 shares. This is a vast amount of dilution to the shareholders of the Company due to the Defendants actions.
https://www.scribd.com/doc/270687669/Seafarer...se-6-15-15
But the Defendant didn't harm the company, he EXPOSED it for what it is. A pump and dump scheme.....PERIOD. And any shareholder that sold based on his postings should thank the Defendant.
Hopefully Kyle, Craig, and others involved in this scheme get sued and a judgment awarded "agin" them for their roles in this scheme that the Defendant EXPOSED. Perhaps he'll own the IM and Boston Whaler before it's all over.....per a Court order.
Quote:The Court finds that the Consent Final Judgment awards damages in the amount of over ten million dollar against the Defendant; however, these damages are not supported by any competent evidence presented to this Court to date.
The Court finds that Defendant is proceeding pro se and in that capacity, admitted via his telephone appearance at the September 30, 2014, hearing that he skimmed the Motion and Consent Final Judgment and Permanent Injunction, and that he simply wanted this to go away. He volunteered that after hearing from the Plaintiff in the prior hearing he had no problem in refraining from posting online criticisms of Plaintiff, and that in fact he had not posted anything negative regarding Plaintiff for over 48 hours. Accordingly, the Court accepts Defendant's consent to this injunction but notes that absent such agreement the Court would not be authorized under the law to compel such a broad based injunctive relief.
The Court has a duty to administer justice and cannot in good conscience rubber stamp that portion of the motion for Consent Final Judgment at this time absent an evidentiary hearing and proof of entitlement to such damages.
https://www.scribd.com/doc/279243584/Judge-Cook-s-ORDER
When required to respond, per Court Order, Kyle reneged on his claim the company suffered losses. And only pointed to shareholder losses or dilution and not actual damage to the company.
Now see Kyle back track when responding to direct questions. In the original complaint they stated they had 4,000 shareholders. In the answer it's now 6,000.
5. Identify each item of expense or damage that are you claiming in connection with your Motion.
We are uncertain what motion is being contended. An emergency motion was brought before the Court for sanctions for continued posting by the Defendant. Loss of stock/share value to the shareholders of the Corporation. As well as provided on the produced share issuance data as addressed in number 3 and 4 above, the amount of shares issued were greater than what would have been needed to be issued at the lower price of $0.0245 per share, due to the Defendants actions and postings. On July 1, 2014, the share price of the corporation was $0.0245 per share. Due to the postings of the Defendant the stock price to $0.006 per share in October 1, 2014 when the Defendant was still posting libelous matters. Thus Seafarers 6,000 shareholders had a loss in value of $ 15,901,554.00 to their holdings . This is directly attributable to the actions of the Defendant.
14. Identify all contracts and vendors that have been lost by SEC as a result of the postings of Defendant.
There have not been established vendor losses. However, the company did suffer sales of shares that were sold by shareholders. Additionally, the company had to distribute a vast number of shares which were in addition to what would have had to be issued due to the actions of the Defendant. On July 1, 2014, the share price of the corporation was $0.0245 per share. Due to the postings of the Defendant the stock price to $0.006 per share in October 1, 2014 when the Defendant was still posting libelous matters. Thus, the company had to issue three times more shares than it would have had to issue when the price was higher. As an example, if such share price were at $0.024 per share, and the company were selling restricted shares for $10,000, then the company would issue 408,163 shares. However, due to the price declination due to the Defendants postings, when such share price was declined to $0.006 per share, then the company would have to issue 1,666,667 shares. This is a vast amount of dilution to the shareholders of the Company due to the Defendants actions.
https://www.scribd.com/doc/270687669/Seafarer...se-6-15-15
But the Defendant didn't harm the company, he EXPOSED it for what it is. A pump and dump scheme.....PERIOD. And any shareholder that sold based on his postings should thank the Defendant.
Hopefully Kyle, Craig, and others involved in this scheme get sued and a judgment awarded "agin" them for their roles in this scheme that the Defendant EXPOSED. Perhaps he'll own the IM and Boston Whaler before it's all over.....per a Court order.
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