Ecomike
1 hour ago
The next SEC charges will be about hedge fund broker dealer indictments for printing naked short shares using the illegal DTCC Back door, the SEC recently discovered and disclosed, that the SEC blindly missed for 40 years (according the SEC's own admission 8 months ago in scathing detail forensic analysis..), and indictment of Hedge fund Boiler room basher teams, paid to bash stocks, the hedge funds need to buy back.
All retail here at SAPX needs to do is lock up their shares with GTC Good Till Cancelled orders at the highest price their Broker dealer allows, and watch the hedge fund shorts freak out as the Cost To Borrow explodes and goes way higher. Many have done this recently with their SAPX shares and the Cost To Borrow is already 3000%
shoondale
2 days ago
SEC Charges Rhode Island Stock Promoter with Microcap Fraud
https://www.sec.gov/litigation/litreleases/lr-25993
The companies in question are SOLY, CNSP, EBET, VLCN, TOBAF
The Securities and Exchange Commission today announced charges against Cranston, Rhode Island resident Ahmed Alomari and MCM Consulting, the entity Alomari controls, for fraud and other securities law violations related to their promotion of the stocks of at least five microcap issuers.
The SEC alleges that from at least March 2019 and continuing to February 2022, Alomari used such outlets as Twitter, Instagram, Facebook, investor chatrooms, and text blasts to promote these microcap stocks without disclosing the source or amount of compensation he received from, or on behalf of, the issuers for his promotion of their stocks. The SEC further alleges that Alomari personally invested in some of these issuers' securities, then surreptitiously sold the stocks while publicly recommending that investors buy them. This conduct included two initial public offerings in which Alomari allegedly invested and quickly sold all his shares for at least $1.4 million in profits. According to the SEC's complaint, Alomari also was able to publicly sell shares he had earned from his promotional services based on false representation letters confirming that the shares were available for public trading. The SEC alleges that Alomari directed his wife, whom he named as the sole officer of MCM Consulting, to sign the false representation letters.
The SEC's complaint, filed in the U.S. District Court for the District of Rhode Island, charges Alomari and MCM Consulting with violating the anti-fraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, the anti-touting provisions of Section 17(b) of the Securities Act, which prohibit promotion of a security without disclosure of compensation received for the promotional activity, and the registration provisions of Section 5(a) and (c) of the Securities Act. The SEC's complaint additionally charges Alomari with violating Section 20(b) of the Exchange Act by violating the anti-fraud provisions through or by means of his wife. The complaint seeks, as to both Alomari and MCM Consulting, permanent injunctions from violating the charged provisions of the federal securities laws, disgorgement, prejudgment interest, civil monetary penalties, and a penny stock bar. The complaint also seeks a bar against Alomari from acting as an officer or director of a public company.
The SEC's case is being handled by Richard Harper, Jeffrey Cook, Alexandra Lavin, Jonathan Menitove, Ryan Murphy, and Celia Moore of the SEC's Boston Regional Office.
Ecomike
3 days ago
It is important because it is one of the reasons we are waiting for further updates on SAPX, aka, SAPX is waiting for those LionsGate et al changes, which should be obvious to everyone now?
We were lucky we were able to get what news we have already gotten, as 8 Million dollars of revenue with an NYSE Monster company in the SAPX business makes us 100% not a shell, and 100% credible now..
Hats off to JB and his team for pulling it off, and sticking with it, and never giving up...
Ecomike
4 days ago
This week news to watch, related to SAPX, shows part of the time delays:
https://www.prnewswire.com/news-releases/screaming-eagle-announces-effectiveness-of-registration-statement-for-proposed-business-combination-302118750.html
Screaming Eagle Announces Effectiveness of Registration Statement for Proposed Business Combination
News provided by
Screaming Eagle Acquisition Corp.
Apr 16, 2024, 18:25 ET
PIPE Upsized to $225M as part of Launch of Lionsgate Studios
Extraordinary General Meetings Scheduled for May 7, 2024
LOS ANGELES, April 16, 2024 /PRNewswire/ -- Screaming Eagle Acquisition Corp. ("Screaming Eagle") (Nasdaq: SCRM, SCRMU, SCRMW) announced today that the registration statement on Form S-4 (File No. 333-276414) (as amended, the "Registration Statement"), filed by Screaming Eagle's wholly-owned subsidiary, SEAC II Corp. ("Pubco"), relating to the previously announced business combination with Lionsgate (NYSE: LGF.A, LGF.B) (the "Business Combination"), has been declared effective by the U.S. Securities and Exchange Commission ("SEC"). The extraordinary general meetings of Screaming Eagle's shareholders and public warrant holders in connection with the Business Combination (the "Extraordinary General Meetings") will be held on May 7, 2024. The proxy statement/prospectus relating to the Extraordinary General Meetings will be mailed to Screaming Eagle's shareholders and public warrant holders of record as of the close of business on April 16, 2024 (the "Record Date").
As previously disclosed, on April 11, 2024, Screaming Eagle and Lionsgate entered into an additional PIPE subscription agreement for $50 million, bringing the total committed PIPE financing in connection with the Business Combination to $225 million.
he parties anticipate that the Business Combination will close in early May, subject to satisfaction of the conditions to the closing of the Business Combination.
About Screaming Eagle
Screaming Eagle Acquisition Corp. is a special purpose acquisition company established for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Screaming Eagle's sponsor is Eagle Equity Partners V, LLC, of which Harry Sloan, Jeff Sagansky and Eli Baker are Managing Members who have together sponsored seven prior SPAC transactions. Screaming Eagle's management team has extensive experience in identifying and executing strategic investments globally and has done so successfully in a number of sectors, including TMT.
Additional Information about the Business Combination and Where to Find It
In connection with the Business Combination, Pubco filed the Registration Statement with the SEC, which includes a proxy statement/prospectus that is both the proxy statement of Screaming Eagle and a prospectus of Pubco relating to the shares to be issued in connection with the Business Combination. The Registration Statement was declared effective by the SEC on April 16, 2024. Screaming Eagle will mail the definitive proxy statement/prospectus relating to the Business Combination to its shareholders and public warrant holders as of the Record Date. The definitive proxy statement contains important information about the Business Combination and the other matters to be voted upon at Extraordinary General Meetings. This communication does not contain all the information that should be considered concerning the Business Combination and other matters and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. Screaming Eagle, Pubco and Lionsgate may also file other documents with the SEC regarding the Business Combination. Screaming Eagle's shareholders, public warrant holders and other interested persons are advised to read the definitive proxy statement/prospectus and any other documents filed in connection with the Business Combination, as these materials may contain important information about Screaming Eagle, Pubco, Lionsgate, and the Business Combination.
Screaming Eagle, Lionsgate, Pubco and their respective directors and officers may be deemed participants in the solicitation of proxies of Screaming Eagle shareholders and public warrant holders in connection with the Business Combination. More detailed information regarding the directors and officers of Screaming Eagle, and a description of their interests in Screaming Eagle, is contained in the definitive proxy statement/prospectus, and is available free of charge at the SEC's website at www.sec.gov. Additionally, information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of Screaming Eagle's shareholders and public warrant holders in connection with the Business Combination and other matters to be voted upon at the Screaming Eagle Business Combination Meetings are set forth in the definitive proxy statement/prospectus.
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