Naked short sellers squeezed by Supreme Court P
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Posted On: 07/10/2016 12:14:00 AM
Naked short sellers squeezed by Supreme Court
Published by AMI Newswire May 16, 2016
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#1 GeckoSystems Intl. Corp. (GOSY)
GeckoSystems Praises SCOTUS Decision Re: Naked Shorting Stocks & States’ Right
CONYERS, GA -- July 7, 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 by enabling state courts jurisdiction in other states to lower litigation costs for plaintiffs seeking damages for naked shorting, propagating false rumors to depress the company stock price, etc. is of particular relevance and potentially dramatic benefit to the Companys 1300+ shareholders. 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 most significant for companies that are small and technology driven such as GeckoSystems. 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 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, 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.
On another note, while we are waiting for movement from our Japanese JVs, we nonetheless remain completely committed to providing our 1300+ shareholders the ROI they so richly deserve. They 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 enjoy additional licensing revenues to further increase shareholder value," concluded Spencer.
About GeckoSystems:
GeckoSystems has been developing innovative robotic technologies for nineteen years. It is CEO Martin Spencer's dream to make people's lives better through AI robotic technologies.
The safety requirement for human quick WCET reflex time in all forms of mobile robots:
In order to understand the importance of GeckoSystems' breakthrough, proprietary, and exclusive AI software and why another Japanese robotics company desires a business relationship with GeckoSystems, its key to acknowledge some basic realities for all forms of automatic, non-human intervention, vehicular locomotion and steering.
1. Laws of Physics such as Conservation of Energy, inertia, and momentum, limit a vehicles ability to stop or maneuver. If, for instance, a cars braking system design cannot generate enough friction for a given road surface to stop the car in 100 feet after brake application, thats a real limitation. If a car cannot corner at more than .9g due to a combination of suspension design and road conditions, that, also, is reality. Regardless how talented a NASCAR driver may be, if his race car is inadequate, hes not going to win races.
2. At the same time, if a car driver (or pilot) is tired, drugged, distracted, etc. their reflex time becomes too slow to react in a timely fashion to unexpected direction changes of moving obstacles, or the sudden appearance of fixed obstacles. Many car "accidents" result from drunk driving due to reflex time and/or judgment impairment. Average reflex time takes between 150 & 300ms. http://tinyurl.com/nsrx75n
3. In robotic systems, "human reflex time" is known as Worst Case Execution Time (WCET). Historically, in computer systems engineering, WCET of a computational task is the maximum length of time the task could take to execute on a specific hardware platform. In big data, this is the time to load up the data to be processed, processed, and then outputted into useful distillations, summaries, or common sense insights. GeckoSystems' basic AI self-guidance navigation system processes 147 megabytes of data per second using low cost, Commercial Off The Shelf (COTS) Single Board Computers (SBC's).
4. Highly trained and skilled jet fighter pilots have a reflex time (WCET) of less than 120ms. Their "eye to hand" coordination time is a fundamental criterion for them to be successful jet fighter pilots. The same holds true for all high performance forms of transportation that are sufficiently pushing the limits of the Laws of Physics to require the quickest possible reaction time for safe human control and/or usage.
5. GeckoSystems' WCET is less than 100ms, or as quick, or quicker than most gifted jet fighter pilots, NASCAR race car drivers, etc. while using low cost COTS and SBC's
6. In mobile robotic guidance systems, WCET has 3 fundamental components.
a. Sufficient Field of View (FOV) with appropriate granularity, accuracy, and update rate.
b. Rapid processing of that contextual data such that common sense responses are generated.
c. Timely physical execution of those common sense responses.
In order for any companion robot to be utilitarian for family care, it must be a "three legged milk stool."
(1) Human quick reflex time to avoid moving and/or unmapped obstacles, (GeckoNav(tm): http://tinyurl.com/le8a39r)
(2) Verbal interaction (GeckoChat(tm): http://tinyurl.com/nnupuw7) with a sense of date and time (GeckoScheduler(tm): http://tinyurl.com/kojzgbx), and
(3) Ability to automatically find and follow designated parties (GeckoTrak(tm): http://tinyurl.com/mton9uh) such that verbal interaction can occur routinely with video and audio monitoring of the care receiver is uninterrupted.
An earlier third party verification of GeckoSystems AI centric, human quick sense and avoidance of moving and/or unmapped obstacles by one of their mobile robots can be viewed here: http://t.co/NqqM22TbKN
An overview of GeckoSystems' progress containing over 700 pictures and 120 videos can be found at http://www.geckosystems.com/timeline/.
These videos illustrate the development of the technology that makes GeckoSystems a world leader in Service Robotics development. Early CareBot prototypes were slower and frequently pivoted in order to avoid a static or dynamic obstacle; later prototypes avoided obstacles without pivoting. Current CareBots avoid obstacles with a graceful bicycle smooth motion. The latest videos also depict the CareBot's ability to automatically go faster or slower depending on the amount of clutter (number of obstacles) within its field of view. This is especially important when avoiding moving obstacles in loose crowd situations like a mall or an exhibit area.
In addition to the timeline videos, GeckoSystems has numerous YouTube videos. The most popular of which are the ones showing room-to-room automatic self-navigation of the CareBot through narrow doorways and a hallway of an old 1954 home. You will see the CareBot slow down when going through the doorways because of their narrow width and then speed up as it goes across the relatively open kitchen area. There are also videos of the SafePath(tm) wheelchair, which is a migration of the CareBot AI centric navigation system to a standard power wheelchair, and recently developed cost effective depth cameras were used in this recent configuration. SafePath(tm) navigation is now available to OEM licensees and these videos show the versatility of GeckoSystems' fully autonomous navigation solution.
GeckoSystems, Star Wars Technology
http://www.youtube.com/watch?v=VYwQBUXXc3g
The company has successfully completed an Alpha trial of its CareBot personal assistance robot for the elderly. It was tested in a home care setting and received enthusiastic support from both caregivers and care receivers. The company believes that the CareBot will increase the safety and well being of its elderly charges while decreasing stress on the caregiver and the family.
GeckoSystems is preparing for Beta testing of the CareBot prior to full-scale production and marketing. CareBot has recently incorporated Microsoft Kinect depth cameras that result in a significant cost reduction.
Kinect Enabled Personal Robot video:
http://www.youtube.com/watch?v=kn93BS44Das
Above, the CareBot demonstrates static and dynamic obstacle avoidance as it backs in and out of a narrow and cluttered alley. There is no joystick control or programmed path; movements are smoother that those achieved using a joystick control. GeckoNav creates three low levels of obstacle avoidance: reactive, proactive, and contemplative. Subsumptive AI behavior within GeckoNav enables the CareBot to reach its target destination after engaging in obstacle avoidance.
More information on the CareBot personal assistance robot:
http://www.geckosystems.com/markets/CareBot.php
GeckoSystems stock is quoted in the U.S. over-the-counter (OTC) markets under the ticker symbol GOSY. http://www.otcmarkets.com/stock/GOSY/quote
GeckoSystems uses http://www.LinkedIn.com as its primary social media site for investor updates. Here is Spencer's LinkedIn.com profile:
http://www.linkedin.com/pub/martin-spencer/11/b2a/580
Telephone:
Main number: +1 678-413-9236
Fax: +1 678-413-9247
Website: http://www.geckosystems.com/
Source: GeckoSystems Intl. Corp.
Published by AMI Newswire May 16, 2016
message board
Breakout Boards
#1 GeckoSystems Intl. Corp. (GOSY)
GeckoSystems Praises SCOTUS Decision Re: Naked Shorting Stocks & States’ Right
CONYERS, GA -- July 7, 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 by enabling state courts jurisdiction in other states to lower litigation costs for plaintiffs seeking damages for naked shorting, propagating false rumors to depress the company stock price, etc. is of particular relevance and potentially dramatic benefit to the Companys 1300+ shareholders. 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 most significant for companies that are small and technology driven such as GeckoSystems. 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 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, 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.
On another note, while we are waiting for movement from our Japanese JVs, we nonetheless remain completely committed to providing our 1300+ shareholders the ROI they so richly deserve. They 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 enjoy additional licensing revenues to further increase shareholder value," concluded Spencer.
About GeckoSystems:
GeckoSystems has been developing innovative robotic technologies for nineteen years. It is CEO Martin Spencer's dream to make people's lives better through AI robotic technologies.
The safety requirement for human quick WCET reflex time in all forms of mobile robots:
In order to understand the importance of GeckoSystems' breakthrough, proprietary, and exclusive AI software and why another Japanese robotics company desires a business relationship with GeckoSystems, its key to acknowledge some basic realities for all forms of automatic, non-human intervention, vehicular locomotion and steering.
1. Laws of Physics such as Conservation of Energy, inertia, and momentum, limit a vehicles ability to stop or maneuver. If, for instance, a cars braking system design cannot generate enough friction for a given road surface to stop the car in 100 feet after brake application, thats a real limitation. If a car cannot corner at more than .9g due to a combination of suspension design and road conditions, that, also, is reality. Regardless how talented a NASCAR driver may be, if his race car is inadequate, hes not going to win races.
2. At the same time, if a car driver (or pilot) is tired, drugged, distracted, etc. their reflex time becomes too slow to react in a timely fashion to unexpected direction changes of moving obstacles, or the sudden appearance of fixed obstacles. Many car "accidents" result from drunk driving due to reflex time and/or judgment impairment. Average reflex time takes between 150 & 300ms. http://tinyurl.com/nsrx75n
3. In robotic systems, "human reflex time" is known as Worst Case Execution Time (WCET). Historically, in computer systems engineering, WCET of a computational task is the maximum length of time the task could take to execute on a specific hardware platform. In big data, this is the time to load up the data to be processed, processed, and then outputted into useful distillations, summaries, or common sense insights. GeckoSystems' basic AI self-guidance navigation system processes 147 megabytes of data per second using low cost, Commercial Off The Shelf (COTS) Single Board Computers (SBC's).
4. Highly trained and skilled jet fighter pilots have a reflex time (WCET) of less than 120ms. Their "eye to hand" coordination time is a fundamental criterion for them to be successful jet fighter pilots. The same holds true for all high performance forms of transportation that are sufficiently pushing the limits of the Laws of Physics to require the quickest possible reaction time for safe human control and/or usage.
5. GeckoSystems' WCET is less than 100ms, or as quick, or quicker than most gifted jet fighter pilots, NASCAR race car drivers, etc. while using low cost COTS and SBC's
6. In mobile robotic guidance systems, WCET has 3 fundamental components.
a. Sufficient Field of View (FOV) with appropriate granularity, accuracy, and update rate.
b. Rapid processing of that contextual data such that common sense responses are generated.
c. Timely physical execution of those common sense responses.
In order for any companion robot to be utilitarian for family care, it must be a "three legged milk stool."
(1) Human quick reflex time to avoid moving and/or unmapped obstacles, (GeckoNav(tm): http://tinyurl.com/le8a39r)
(2) Verbal interaction (GeckoChat(tm): http://tinyurl.com/nnupuw7) with a sense of date and time (GeckoScheduler(tm): http://tinyurl.com/kojzgbx), and
(3) Ability to automatically find and follow designated parties (GeckoTrak(tm): http://tinyurl.com/mton9uh) such that verbal interaction can occur routinely with video and audio monitoring of the care receiver is uninterrupted.
An earlier third party verification of GeckoSystems AI centric, human quick sense and avoidance of moving and/or unmapped obstacles by one of their mobile robots can be viewed here: http://t.co/NqqM22TbKN
An overview of GeckoSystems' progress containing over 700 pictures and 120 videos can be found at http://www.geckosystems.com/timeline/.
These videos illustrate the development of the technology that makes GeckoSystems a world leader in Service Robotics development. Early CareBot prototypes were slower and frequently pivoted in order to avoid a static or dynamic obstacle; later prototypes avoided obstacles without pivoting. Current CareBots avoid obstacles with a graceful bicycle smooth motion. The latest videos also depict the CareBot's ability to automatically go faster or slower depending on the amount of clutter (number of obstacles) within its field of view. This is especially important when avoiding moving obstacles in loose crowd situations like a mall or an exhibit area.
In addition to the timeline videos, GeckoSystems has numerous YouTube videos. The most popular of which are the ones showing room-to-room automatic self-navigation of the CareBot through narrow doorways and a hallway of an old 1954 home. You will see the CareBot slow down when going through the doorways because of their narrow width and then speed up as it goes across the relatively open kitchen area. There are also videos of the SafePath(tm) wheelchair, which is a migration of the CareBot AI centric navigation system to a standard power wheelchair, and recently developed cost effective depth cameras were used in this recent configuration. SafePath(tm) navigation is now available to OEM licensees and these videos show the versatility of GeckoSystems' fully autonomous navigation solution.
GeckoSystems, Star Wars Technology
http://www.youtube.com/watch?v=VYwQBUXXc3g
The company has successfully completed an Alpha trial of its CareBot personal assistance robot for the elderly. It was tested in a home care setting and received enthusiastic support from both caregivers and care receivers. The company believes that the CareBot will increase the safety and well being of its elderly charges while decreasing stress on the caregiver and the family.
GeckoSystems is preparing for Beta testing of the CareBot prior to full-scale production and marketing. CareBot has recently incorporated Microsoft Kinect depth cameras that result in a significant cost reduction.
Kinect Enabled Personal Robot video:
http://www.youtube.com/watch?v=kn93BS44Das
Above, the CareBot demonstrates static and dynamic obstacle avoidance as it backs in and out of a narrow and cluttered alley. There is no joystick control or programmed path; movements are smoother that those achieved using a joystick control. GeckoNav creates three low levels of obstacle avoidance: reactive, proactive, and contemplative. Subsumptive AI behavior within GeckoNav enables the CareBot to reach its target destination after engaging in obstacle avoidance.
More information on the CareBot personal assistance robot:
http://www.geckosystems.com/markets/CareBot.php
GeckoSystems stock is quoted in the U.S. over-the-counter (OTC) markets under the ticker symbol GOSY. http://www.otcmarkets.com/stock/GOSY/quote
GeckoSystems uses http://www.LinkedIn.com as its primary social media site for investor updates. Here is Spencer's LinkedIn.com profile:
http://www.linkedin.com/pub/martin-spencer/11/b2a/580
Telephone:
Main number: +1 678-413-9236
Fax: +1 678-413-9247
Website: http://www.geckosystems.com/
Source: GeckoSystems Intl. Corp.
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