Securities & Investments

Startup Business

robotech — Wed, 18 Nov 2009 16:20:40 GMT

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Can I or my company facilitate investments on behalf of our clients without being a broker - or regulated in some fashion by the SEC?

Our clients would subscribe annually as a member - paying a fee to maintain membership.

An expectation of risk and return arrives by using our proprietary software as the investment 'engine' (buying and selling of commodities). Their member fee is used as capital.

Each member is part of a P2P group - which decided the details of the investment. The group decided collectively how risk is decided, when to release funds, etc.

My company just facilitates the group and they decided.

Thank You

Recovering Securities

kasenlynn — Thu, 29 Oct 2009 23:24:55 GMT

I purchased a note December 29, 2007. The note was due and payable in full on December 28, 2008,however the company's accounts were suspended by the senior creditors on 1/2/09. I was to have my note paid to me BEFORE the suspension date however it was not paid. I have written the company several times informing them my money was due and payable in FULL before suspsension. I did talk to the CEO once in January and he said they were going to restructure and pay back according to the company's progress. In otherwords, a percentage. I tried to explain my money was due in full before suspension and was due me. I even promised his interest money back if I could have my principal. I have written several times since with no response. I am not even sure where the company is at ... I think they are in bankruptcy.
My question is, do you feel I would have a chance to recover my money through a lawyer and what would be the charge? Please advise.
Thank you.

computer fraud issue

edfernandez — Fri, 02 Oct 2009 14:54:34 GMT

Hi I joined mysurvey.com and basically what happens there is that people need to earn certain amount of points in order to reach the requirement of earning the actual money. One of the options of increasing points is to refer friends to mysurvey.com. I made a stupid mistake of creating multiple email accounts and referred them. They now emailed me and banned me for it but the scary part is that they said they have the right to report me to federal and state authorities. They are not going to do that if I didn't make any money off of it, do they? They emailed me that I violated 18 U.S.C. 1029. Here is a part of their message:

"Based on our audit of your referrals, we found evidence of violation of
the MySurvey.com Referral Program Rules/Affiliate Referral Rules.
Therefore, we have inactivated your membership, barred you from future
membership and invalidated all your accumulated Reward Points. We further
reserve the right to report your conduct to the appropriate federal and
state authorities."

Annuities

wubby — Tue, 05 Aug 2008 05:55:00 GMT

Who insures your annuity if the life ins. co. goes bankrupt.

In other words, the FDIC insures your money in a bank up to $100,000.

Question about SEC filings and 8K's

Robert99 — Fri, 11 Sep 2009 23:13:16 GMT

I've been following a scam stock, Spongetech (SPNG) and was wondering if anyone here would know if this otcbb. company, has to file any SEC filing when they change their share structure. They are incorporated in Delaware, and their transfer agent is gagged or 'does not give out any information" The Delaware SOS does give out their current A/S, but this company has raised their A/S 3 times with SEC filings, and also raised it twice more without a filing, all recorded with the Delaware SOS. Currently the company has reduced their A/S share count from 2.75 billion to 300 million with no SEC filing except for 2 8K's that were for a reverse stock split that would reduce the A/S shares to 900 million, and the second 8K for the same reverse split that would reduce the A/S to 300 million. The last 8K filed for this company in May raised the A/S shares to 2.05 billion, and no other 8K has been filed to reduce the A/S until these last 2 reverse split 8K's that have an effect date of 9/22/09. I am trying to help investors not get scammed in a rather obvious problem stock. If anyone that can help me needs any links to anything, I will provide them within an hour of your reply between 7am and 9pm.

Thank you for any help you can provide.

Seeking representation – violation of Federal Securities Act

Mr. Benson — Sun, 23 Aug 2009 17:11:32 GMT

I am one a leader in a group of “Activist Shareholders”. We have been openly challenging (on the Internet) a Canadian gold and copper mining company (Campbell Resources).

Our group is called the “Campbell Resources Stakeholders Association" (CRSA). Our group has about 20 investors in the United Sates, Canada, and in the Netherlands.

On our website, we build our case against the company. Our website has been viewed by well over 10,000 unique visitors in the last 3 years. Our website is “campbellanalysi... This link will access the website through a Google search:

http://www.google.com/...=

(I present the link this way so readers here can feel comfortable that this is not a gimmick).

The company has over $1 Billion in real assets here (gold and copper, mines already built / with proven reserves), and the market cap of the company is $2 - $3 Million.

Our group is seeking legal representation. We would like to file a lawsuit against one or more parties on the corporate side. We need to start with advice on the best party to file a lawsuit against, the best venue for litigation, and the best legal strategy.

A visit to the website (link above) will reveal the nature of our complaint. Basically, we believe (suspect) that management has conspired to steal the assets of this company by deliberately creating a situation where Campbell can be “bought out on the cheap” by a NON arms-length partner. We have accumulated over 1,000 pages of evidence.

The simplest case we see here is a lawsuit based on violations of the 1933 Federal Securities Act – false and misleading statements and omissions. Some of those statements were made in the company’s 2006 Prospectus Offering.

This is a Canadian company. It is domiciled in Québec, and the primary exchange is the Toronto exchange. But the company has a United States trading symbol (CBLRF). CBLRF used to trade on the OTC exchange, and is now on the pink sheets.

I understand that a “derivatives case” (a case built around “breach old fiduciary duty”) may need to be filed in Canada. Filing a lawsuit in Canada is a separate path we are considering. But for the purpose of this discussing, we trying to see a way of we can in New York Courts (State or Federal court).

Campbell Resources operates under Sarbanes Oxley Disclosure Laws. We think we have a legal case because of that – the company clearly violated disclosure laws, and damages can be proven.

We have filed complaints with the SEC and we have proof that SEC has reviewed our website. We have also filed numerous complaints with the Toronto Stock Exchange.

We are seeking an Attorney with Securities law experience to represent our group. Compensation can take many forms.

At the “high end”, this could become a class action, with several prominent financial Institutions named in the lawsuit.

In a “medium size compensation scenario” we think our group might be able to raise an amount in the "low five figures" to directly pay (cash) for legal representation.

One desired goal is to force a change in Management.

We are seeking any advice that people can offer, and would like to talk with any Attorney, interested in representing us, immediately.

NJ Redisident

tino — Thu, 02 Jul 2009 19:03:13 GMT

I had taken advise from a Group in Baltimore Maryland called name removed]. They have this Get rich quick scheme dealing with DRIPs. I bought DRIP/Stock they recomend. I am in New Jersey, They in Baltimore. The situation is Complicated, so I need an email to give you the full dose.

I am a near minumum wage security guard who doesn't need to loose money.

margin call

aa262 — Tue, 16 Jun 2009 09:40:09 GMT

My broker sold stocks from my account on a margin calHe failed to give me

notice The margin account agreement clearly states that notice is to be

given to be given I had the resources to meet the call

Do have grounds to bring it to arbitration

Transferring Annity to Son

jeafra7 — Wed, 20 May 2009 14:48:03 GMT

I just wrote about this subject on Real Estate but it seems it keeps changing for my brother. My Step-Dad has an Annity from a house he sold about 7 years ago. All of a sudden he wants to buy my brother that he hasn't spoken to a home. Not so simple, in Colorado they need a letter of certificate or what ever you call it before you can bid on a home, they don't like it that my brother can't prove he has the money. So my Dad is going to transfer the annity into my Brother's name. period the end. Are there any tax consequences doing it that way? Or can you think of a way that would work for everyone. My brother is not married and has no children. If he buys the house in my Dad's name he can't get the 8000 dollar credit this year because he has never bought a home. Also if we let my Dad buy the house he will become very cheap and not want to fix it up and will keep control of the rest of the money and we are back where we started. He is 85 and has cancer and not expected to live very long.

Securities Exemption for Florida??

SeanL — Fri, 06 Mar 2009 22:16:21 GMT

Hi all,

I am starting a small company in Florida and has successfully incorporated the business. Where I am from (California), small businesses need to apply for a securities exemption with the CA Department of Corporations under Section 25102(f) of the state's Corporations Code. I am wondering if Florida has the same requriement and whether I can apply for the exemption online (you can in California).

Any help is appreciated. Thanks in advance!

--Sean

Looking for an attorney - Signal Oil

Andrew-Signal — Thu, 05 Mar 2009 00:24:52 GMT

I invested 280,000 in signal oil based on returns (provided in writing by Signal) that I will capture my capital back in 12 to 18 months. In the first 2 years, I received 20K and then for the last 12 month, no payments at all and no response from the company. Looking for an attorney on contingency. email asj7773 at yahoo

Investments

love stocks — Sat, 14 Feb 2009 05:11:57 GMT

Is it legal to charge people for my advice on what stocks to sell and what to buy even if I do not have a financial license (CFP)?

Who can offer Royalty Financing?

dtjohnson01 — Fri, 19 Dec 2008 18:39:08 GMT

As a business owner, is it illegal to offer royalty financing to individuals without having some type of license (State or Federal)? I have read several places that since they are basically considered loans, that they aren't subject to state and federal security laws. I realize there are contracts such as terms sheets that would be between me and investors; just want to make sure that I am even allowed to do that without some special filing with the SEC.

PS. I have contacted my local securities office at: http://www.securities.ok.gov/

No luck getting a straight answer from them yet and so far any lawyer I have called wants $100 or more consultation fee.

Thanks

Who has to be Licensed when discussing investments and money

Gabby1980 — Tue, 16 Dec 2008 20:00:32 GMT

I see lots of service type companies offering help with budgeting but promote disclaimers about "see your adviser, were not selling securities" etc...should I listen to anyone who isn't licensed? Licensing requirements, I read, are really overboard and doest mean they'd be GOOD as advising how to manage my assets. What gives?

My tax agent, for example, explains advantages of various insurance / annuities etc but isnt a securites seller or accountant-is this ok or is he breaking the law?

Selling securities OR just Investment deals???

Biz Dev — Sun, 07 Dec 2008 19:56:25 GMT

What is the best entity to use when syndicating real estate deals with silent partners?

They are simply investing money while my partner and I manage the development, rentals and sales. We give them a percentage of the deal as well as an interest payment on the amount they invest.

I am told an LLP is the best way to go but if I get the general public involved, we could be selling "securities without a license". Is this true?

I know I need to see an attorney but hope to learn more before I pay several hundred per hour for conversation.

Thank you in advance.

Share Certificates

muffinstove — Sun, 23 Nov 2008 00:24:34 GMT

I found copies of share certificates in my deceased mother's desk. I am not sure where the originals would be or if they were cashed in. I don't want to start on a wild goose chase looking for the originals if she had cashed them in already. Could I contact the company or someone to see if the shares were cashed?.

Would this be Insider Trading?

Marilynn Lee — Fri, 17 Oct 2008 23:47:05 GMT

Sometimes for my work I have to help research a company's financial stability. Usually this is because my employer is thinking about entering into a contract with the company that is being researched.

Sometimes when I am doing this I see companies that I think, Gee, that would be a good company to have stock in. I am looking for stocks to buy for my, trust me, very small investment portfolio. And I agree with Warren Buffet that this is a good time to buy if you can.

If I see a company that looks good to me while doing research for my employer, and decide to buy stock in it as a result, would that be illegal insider trading?

The only thing that worries me is that I know the reason I'm doing this research is because my employer is probably going to enter into a long term or high dollar contract with the company. If that would be a problem, if I waited until after my employer signed the contract would that make it better or worse?

There is nothing in my employer's rules that prohibits employees from owning stock in the companies that it does business with. I'm just worried about the law. I don't want to do anything illegal by accident.

401K dispute

Chababy82 — Thu, 16 Oct 2008 23:02:33 GMT

My Father passed away 4 months ago. My Fathers Boss got the ball rolling , helping my mom manage her investments. In JULY my Mother, along with my fathers HR girl, made the first call to 401k. Mom had to fill out paperwork to get the account put in her name, so she could roll it over into an IRA account. They again made her fill out paperwork she had already sent in. In August she had YET to receive a pin number that had been sent out, per 401k. They sent out my FATHERS pin, that was no longer valid. When Mom and HR lady called back, they didn't have my mom in the system. They said they would send out the new pin in 5-7 business days. They gave her a tracking number. My mother has documented all of this both on paper, as well as having The HR woman on ALL phone calls. 7 times they have said it's in the mail right now!! you'll have it in 5-7 days. As of August, almost 30,000 in the account. Because of their incompitance, she now has a lower side of 23,000. Is there ANY legal action she can take?! She is STILL fighting with them to Roll it over into an IRA account. She finally received the pin October 2nd! She started this process in JULY! Any advice? Please feel free to email me at Chababy82@yahoo.com..Thank You!

Selling International Properties.

MigrationUser — Mon, 08 Sep 2008 19:39:43 GMT

I market Dubai Properties to my clients in North America. I work with builders and real estate agents that reside in Dubai (UAE).

(A) I want to safeguard myself in case any of these Dubai companies defaults or go bankcrupt.

(B) I do not accept payments locally in USA as all payments are wired directly to Dubai. I would like to know what risks are associated with accepting payments here on behalf of Dubai-based companies.

Regards,
Fez.

Inheritance of Annuity

jeafra7 — Tue, 24 Jun 2008 19:22:38 GMT

My step-father is very ill and 84. He has cancer and has been given 3 months to live. He has been married to my Mom for 57 years, they have been separated for 6 years and they don't speak to each other and he changed his Annuity out of her name as a Benificary and made his real daughter the sole heir to the annuity. It is about $ 120,000. She is on SSI and doesn't want to loose her status.
If she inherits the annuity and then signs the check over to my Mom will that work? She wants to give it back to my Mom and then she can live a little better than she has. What does that sound like. I hope I made this simple math for someone.

Profit sharing

doc5 — Fri, 07 Mar 2008 18:34:41 GMT

I was with a co. for a little over 14 yrs. and got caught up in some office politics and was fired.

I have what they call a profit sharing/retirement plan that was supposed to be turned over to me 6-8 weeks after the last qtr. (Dec. 31st).

I called two weeks ago and was given a response of they fired the old bank and just got all the plans transferred and I should see mine in 7-10 days. Well that time has passed and I haven't seen anything.

Are there any time frames by law this co. has to have it in my hands and I have also not been able to invest this money for the last 10 weeks because of it just sitt'n around.

Thanks

Need advice

rebeccawood — Sun, 27 Jan 2008 22:39:54 GMT

I am a 53 year old female. I just lost my job after working in the same place over 30 years.

I was told that I could leave my 401k there until age 65 but I can no longer contribute to it.

Would it be better to leave it or move it to something else?

It's not much money(60k) but it's all I have.

Victimof Ponzi scheme, now being accused of crime

cbcses — Sat, 19 Jan 2008 23:36:36 GMT

Please help! My husbnd and I were the victims of a Ponzi scheme. (I know, we were stupid and we blame ourselves for our loss.) However, some friends of ours who also invested are now trying everything they can to get us in trouble since we got interest on their investment.

After they put their money in we started getting .05 % interest on their money. We never SOLD them on this investment, nor did we expect any 'commission'. They turned us into the Department of Banking and Finance in our state for selling securities without a license. As far as we know they didn't get anywhere with that one. NOW, they have turned us in to the county for "theft by deception" and are claiming that we knew it was a scam.

If we would have known it was a scam, we wouldn't have invested a LOT of our money. We lost our shirts on the deal.

Do they have a case? Their investment was over 4 years ago and they investment fell apart about 17 months ago. Is there a SOL in Nebraska for this?
Thanks for your help!

Investing in a new business

Diamond12 — Tue, 15 Jan 2008 16:53:33 GMT

I'm in Florida, thinking about investing in a business with an individual. Are there contracts online for basic investments and how does that effect my taxes? Do investors usually require a payment based on percentages per month? A percentage of the profits or all of the above? I'm sure there are several other types of agreements, but I'm clueless and not sure where to start to research.

Any advice is appreciated.