Applied Biosciences Corporation (EM) (APPB)

Wowjustwow. Nothing was sold. Gee that's terrible and really troublesome about posting false stuff the whole time.
Actually, the company nor it's criminal officers said anything about sold out products anywhere.

In fact, APPB had not begun
shipping the test kits and now claims it did not offer, sell or intend to sell the test kit for home or
private use, but rather APPB intended to screen potential purchasers only to allow purchases in
connection with use by nursing homes, schools, military, first responders, or in consultation with
a medical professional. APPB knew or was reckless in not knowing these material facts, yet it
misrepresented or did not disclose them.
23. Third, APPB’s March 31, 2020 press release misleadingly failed to disclose that
the FDA had not approved or authorized the sale of any at-home test kits, despite the fact that
APPB knew that the test kits were subject to FDA review

SEC Obtains Final Judgment Against Company for Misleading Covid-19-Related Claims

https://www.sec.gov/litigation/litreleases/2020/lr24977.htm

Over 2x the volume from yesterday and a high of $.695 - up over 300% from last week.

$APPB

Volume Alert - Watch for this one to break back out.

$APPB

U.S. SEC charges two companies, CEO over misleading COVID-19 claims

https://www.reuters.com/article/us-health-coronavirus-sec-fraud/u-s-sec-charges-two-companies-ceo-over-misleading-covid-19-claims-idUSKBN22Q271?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

that's a good idea. i wonder what they have to say?

PRAYER FOR RELIEF
WHEREFORE, the Commission respectfully requests that the Court enter a Final
Judgment:
I.
Permanently enjoining APPB and its agents, servants, employees and attorneys and all
persons in active concert or participation with any of them from violating, directly or indirectly,
Exchange Act Section 10(b) [15 U.S.C. §§ 78j(b)], and Rule 10b-5(b) thereunder [17 C.F.R.
§§ 240.10b-5(b)];
II.
Ordering Defendant to pay civil monetary penalties under Exchange Act Section 21(d)(3)
[15 U.S.C. § 78u(d)(3)]; and
III.
Granting any other and further relief this Court may deem just and proper.

FACTS
I. BACKGROUND OF APPB
A. APPB’s Business and Financial Condition
15. APPB’s Form 10-K for the year ended March 31, 2019, filed on July 1, 2019,
stated that APPB’s business focuses “on the development of science-driven Cannabinoid
therapeutics/biopharmaceuticals, and delivering high-quality CBD products as well as state -ofthe-art testing and analytics capabilities to our customers.”
II. APPB ISSUED MISLEADING PRESS RELEASES TO EXPLOIT THE COVID-19
PANDEMIC, INCLUDING A MATERIALLY MISLEADING PRESS RELEASE
ON MARCH 31, 2020.
A. The March 25, 2020 Press Release
16. As consumer demand for products to combat COVID-19 grew, APPB announced
a pivot in its business from cannabinoid-related products to pandemic-related products. First, on
March 25, 2020, APPB announced in a press release titled “[APPB] Announces Launch of . . .
Case 1:20-cv-03729 Document 1 Filed 05/14/20 Page 4 of 11
5
Product Line to Combat Spread of COVID-19” that the company had “diverted manufacturing
resources to build products that will help battle the spread of the coronavirus (COVID-19).” The
press release included a hyperlink to an APPB-affiliated online store that sold hand sanitizer and
other products. The press release further stated that APPB “has formulated its sanitizing blends
according to the CDC guidelines to make them as effective as possible in killing harmful germs
and bacteria.”
17. APPB’s March 25, 2020 press release was misleading because APPB neither
diverted “manufacturing resources” nor “formulated its sanitizing blends” in connection with the
hand sanitizer it sold, but rather a third-party manufactured the hand sanitizer sold by APPB.
B. The March 31, 2020 Press Release
18. On March 31, 2020, APPB announced in a press release titled “[APPB] Begins
Offering Coronavirus Test Kit to the General Public to Combat Spread of COVID-19” that the
company had “begun shipping” a line of home kits for coronavirus detection, specifically that
“further to its recent March 25th, 2020 press release regarding the Company’s diversion of
production production [sic] capacity to product [sic] hand sanitizer, it has begun shipping
Coronavirus Test Kits (the ‘Kits’ or the ‘Tests’) in the United States.”
19. The press release stated, with emphasis supplied:
These Coronavirus Tests Kits are CE certified, accurate, affordable
and reliable results in under 15 minutes [sic]. . . . This is an
expansion of products that will help battle the spread of the
coronavirus (“COVID-19”).
These CE certified Kits can be used for Homes, Schools,
Hospitals, Law Enforcement, Military, Public Servants or anyone
wanting immediate and private results.
The Home Test Kits can be found on the Company’s online
store. . . .
Case 1:20-cv-03729 Document 1 Filed 05/14/20 Page 5 of 11
6
20. The March 31, 2020 press release was reviewed and approved by the Director.
C. The Materially Misleading Nature of the March 31, 2020 Press Release
21. APPB’s March 31, 2020 press release was materially misleading in a number of
ways. First, by stating that “further to its recent March 25th, 2020 press release regarding the
Company’s diversion of production production [sic] capacity to product [sic] hand sanitizer, it
has begun shipping Coronavirus Test Kits[,]” APPB misled the public by implying that APPB
had some role in the production of the test kits. In fact, APPB had simply entered into an
agreement to purchase test kits from the Essential Oil Company, a company that prior to the
COVID-19 pandemic sold “vitamin essential oil aromatherapy diffuser sticks[,]” and whose sole
officer has a background in acting and modeling. The Essential Oil Company in turn sourced the
test kits from a manufacturer in China. APPB knew or was reckless in not knowing these
material facts, yet it misrepresented or did not disclose them.
22. Second, the March 31, 2020 press release claimed that it had “begun shipping”
the test kits, which were “Home Test Kits” offered to the “General Public” and that “can be used
for Homes . . . or anyone wanting immediate and private results.” In fact, APPB had not begun
shipping the test kits and now claims it did not offer, sell or intend to sell the test kit for home or
private use, but rather APPB intended to screen potential purchasers only to allow purchases in
connection with use by nursing homes, schools, military, first responders, or in consultation with
a medical professional. APPB knew or was reckless in not knowing these material facts, yet it
misrepresented or did not disclose them.
23. Third, APPB’s March 31, 2020 press release misleadingly failed to disclose that
the FDA had not approved or authorized the sale of any at-home test kits, despite the fact that
APPB knew that the test kits were subject to FDA review. Just days earlier, the FDA announced
Case 1:20-cv-03729 Document 1 Filed 05/14/20 Page 6 of 11
7
on its website on March 20, 2020 that no home-based coronavirus tests had been approved
(emphasis supplied):
[T]he agency is beginning to see unauthorized fraudulent test kits
that are being marketed to test for COVID-19 in the home.
We want to alert the American public that, at this time, the
FDA has not authorized any test that is available to purchase
for testing yourself at home for COVID-19. The FDA sees the
public health value in expanding the availability of COVID-19
testing through safe and accurate tests that may include home
collection, and we are actively working with test developers in this
space.
24. In a “Consumer Update” included in a March 24, 2020 “Coronavirus (COVID-19)
Update,” the FDA further emphasized that no home-based coronavirus tests have been
authorized, in a release entitled “Beware of Fraudulent Coronavirus Tests, Vaccines and
Treatments” (emphasis supplied):
The FDA has also seen unauthorized fraudulent test kits for
COVID-19 being sold online. Currently, the only way to be tested
for COVID-19 is to talk to your health care provider.
At this time, the FDA has not authorized any COVID-19 test to
be completely used and processed at home. The FDA has
authorized the first COVID-19 test for home collection of samples,
but those samples are to be sent to a laboratory for processing and
test reporting.
25. The FDA also posted a list of all approved coronavirus-related in vitro
(laboratory) test kits on its website, including the manufacturer or laboratory that produced the
test. That list did not include APPB or the test kit it offered to sell, because the test kit was not
authorized by the FDA, which APPB also failed to disclose in its press release.
26. APPB knew or was reckless in not knowing that it was offering to sell a test kit
that was subject to FDA review but that had not been approved by the FDA for home use, yet
APPB did not disclose that material fact. APPB has explained that prior to the March 31, 2020
press release, the Essential Oil Company Executive told the Director that the test kit offered by
Case 1:20-cv-03729 Document 1 Filed 05/14/20 Page 7 of 11
8
APPB was approved by the FDA. However, APPB conceded that it performed no further
diligence to confirm whether the test kit had been approved by the FDA. Even a minimal
amount of diligence by APPB would have revealed that the test kit was not approved by the
FDA.
D. The April 24 and 27, 2020 Press Releases
27. On April 24, 2020, APPB issued a press release announcing that it had terminated
its agreement with its COVID-19 test supplier, the Essential Oil Company. The release further
stated that:
while at the time of publication of the March 31, 2020 press
release, the [FDA] did not disallow use of the test kit for home use
without the administration of the test by a qualified medical
professional, subsequent to publication of the March 31, 2020
press release, by April 1, 2020, the FDA notified the supplier of
the test kit that home use of the test kit by a qualified medical
professional was not allowed.
28. While the April 24, 2020 press release attempted to correct the March 31, 2020
press release, that correction itself was misleading because the COVID-19 test kit offered for
sale by APPB was never authorized for home use, with or without the administration by a
qualified medical professional.
29. The April 24, 2020 press release also stated that “[o]n April 1, 2020, immediately
after the supplier of the test kit notified the Company that the FDA had informed it that the test
kit was not allowed for home use, the Company supplemented its March 31, 2020 press release
to remove reference to home use.” That statement was misleading because the company never
“supplemented its March 31, 2020 press release.” In fact, on April 27, 2020, APPB issued a
press release to correct that misstatement, stating that it “should have stated that the Company
revised its website (not supplemented the March 31, 2020 press release). . . .”
Case 1:20-cv-03729 Document 1 Filed 05/14/20 Page 8 of 11
9
III. APPB’S STOCK PRICE AFTER THE MARCH 31, 2010 PRESS RELEASE AND
SUBSEQUENT TRADING SUSPENSION
30. After the materially misleading March 31, 2020 press release, APPB’s price and
volume both increased notably. The press release was issued before the market opened on
March 31. During trading on March 31, APPB’s stock price increased almost 80 percent from
the previous day (from $0.45 to $0.80), and its volume increased by a factor of 85 (136,300
shares sold, versus 1600 shares sold on the previous day). From March 31, 2020 through April
7, 2020, APPB’s closing stock price ranged from $0.45 to $0.80, with an average trading volume
of 48,985 shares. In contrast, from January 2, 2020 through March 30, 2020, APPB’s closing
stock price ranged from $0.24 to $0.69, with an average trading volume of 3,635 shares.
31. On April 13, 2020, the Commission suspended trading in APPB’s securities for
ten trading days, effective April 14, 2020.

SEC Charges Companies and CEO for Misleading COVID-19 Claims
FOR IMMEDIATE RELEASE
2020-111

Washington D.C., May 14, 2020 —
The Securities and Exchange Commission today announced charges in two cases involving companies that claimed in press releases to offer products to combat the COVID-19 virus – one against Applied BioSciences Corp. and one against Turbo Global Partners, Inc. and its CEO, Robert W. Singerman. The SEC previously suspended trading temporarily in the securities of Applied BioSciences and Turbo Global.

According to the SEC’s complaint against Applied BioSciences, filed in federal court in the Southern District of New York, the company issued a press release on March 31 stating that it had begun offering and shipping supposed finger-prick COVID-19 tests to the general public that could be used for “Homes, Schools, Hospitals, Law Enforcement, Military, Public Servants or anyone wanting immediate and private results.” The complaint alleges that contrary to these claims, the tests were not intended for home use by the general public and could be administered only in consultation with a medical professional. The complaint further alleges that Applied BioSciences had not shipped any COVID-19 tests as of March 31, and its press release failed to disclose that the tests were not authorized by the U.S. Food and Drug Administration.

The SEC’s complaint against Turbo Global and Singerman, filed in federal court in the Middle District of Florida, alleges that the company issued false and misleading press releases on March 30 and April 3 regarding a purported “multi-national public-private-partnership” to sell thermal scanning equipment to detect individuals with fevers. According to the complaint, the company claimed in its press releases that this technology could be instrumental in “breaking the chain of virus transmission through early identification of elevated fever, one of the key early signs of COVID-19.” As alleged, the press releases also included statements, attributed to the CEO of Turbo Global’s supposed corporate partner in the partnership, that the technology “is 99.99% accurate” and was “designed to be deployed IMMEDIATELY in each State.” In fact, the complaint alleges, Turbo Global had no agreement to sell the product, there was no partnership involving any government entities, and the CEO of Turbo Global’s supposed corporate partner did not make or authorize the statements attributed to him. According to the complaint, Singerman drafted the releases, which he knew to be false. The SEC charged Singerman with fraud in 1999 based on his fraudulent sale of securities through a network of boiler rooms, and obtained a permanent injunction against him.

“We are actively monitoring the markets to detect potential fraudsters who seek to use the COVID-19 crisis as a basis for investment scams,” said Stephanie Avakian, Co-Director of the SEC’s Division of Enforcement. “As alleged in these complaints, Applied BioSciences and Turbo Global sought to take advantage of the COVID-19 crisis by misleading investors about their ability to provide solutions.”

“These fraud actions demonstrate the SEC’s vigilance over public companies that make materially misleading claims in press releases,” said Steven Peikin, Co-Director of the SEC's Division of Enforcement. “We will continue to act swiftly when necessary to protect investors.”

The SEC’s complaint against Applied BioSciences charges the company with violating antifraud provisions of the federal securities laws and seeks permanent injunctive relief and civil penalties. The SEC’s complaint against Turbo Global and Singerman charges them with violating antifraud provisions of the federal securities laws and seeks permanent injunctive relief and civil penalties, and an officer and director bar against Singerman.

The investigation of Applied BioSciences has been conducted by Kristine Zaleskas, Dugan Bliss, and Thomas P. Smith, Jr., and supervised by Lara S. Mehraban, all of the New York Regional Office. The investigation of Turbo Global and Singerman has been conducted by Robert F. Schroeder, William P. Hicks, and M. Graham Loomis, and supervised by Justin Jeffries, all of the Atlanta Regional Office. The SEC appreciates the assistance of the Financial Industry Regulatory Authority.

The SEC’s Office of Investor Education and Advocacy previously issued an investor alert cautioning investors to be aware of COVID-19 scams.

###

https://www.marketscreener.com/news/SEC-Charges-Companies-and-CEO-for-Misleading-COVID-19-Claims--30607046/

Applied BioSciences Terminates Agreement to Offer Test Kits and Amends March 31, 2020 Press Release

April 24, 2020 17:18 ET | Source: Applied Biosciences Corp.

Los Angeles, CA, April 24, 2020 (GLOBE NEWSWIRE) -- Applied BioSciences Corp. (the “Company”; OTCQB: APPB), a vertically integrated company focused on the development and commercialization of novel, science-driven, synthetic cannabinoid therapeutics/biopharmaceuticals that target the endocannabinoid system to treat a wide-range of diseases, today announced that it terminated its agreement with its supplier for COVID-19 test kits. The Company has not distributed, and will not be distributing, the test kit.

Additionally, on March 31, 2020, the Company published a press release tilted, “Applied BioSciences Begins Offering Coronavirus Test Kit to the General Public to Combat Spread of COVID-19.” The Company hereby amends such press release to emphasize that while at the time of publication of the March 31, 2020 press release, the US Food and Drug Administration (“FDA”) did not disallow use of the test kit for home use without the administration of the test by a qualified medical professional, subsequent to publication of the March 31, 2020 press release, by April 1, 2020, the FDA notified the supplier of the test kit that home use of the test kit by a qualified medical professional was not allowed.

On April 1, 2020, immediately after the supplier of the test kit notified the Company that the FDA had informed it that the test kit was not allowed for home use, the Company supplemented its March 31, 2020 press release to remove reference to home use. Upon further consideration, on Saturday, April 4, 2020, the Company removed the test kit from its online store, and no test kits were ever distributed or sold to any person. The Company’s supplier has told the Company that the FDA is presently reviewing the test kit for home use.

On April 13, 2020, the US Securities and Exchange Commission published Release No. 88627, under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), announcing a temporary suspension of trading in the Company’s securities. The Company is presently evaluating whether to contact a broker-dealer to ask it whether it would submit a new Form 211 regarding the Company to FINRA to begin the process of updating information under Exchange Act Rule 15c2-11. Rule 15c2-11 requires market makers to review basic issuer information prior to publishing quotations for that issuer's securities. Market makers must have a reasonable basis for believing that the information is accurate and from reliable sources. The Rule describes the kind of information that the broker-dealer must review. The Company has not determined if or when it will contact a broker-dealer.

sales of their test kits seems to be designed not to run afoul of regulatory guidelines (

looks like they failed.

volume seemed very light today.

lol. maybe not now.

APPB SEC Suspension "because questions have arisen concerning the accuracy and adequacy of publicly-available information concerning APPB. The questions relate to statements that APPB made about selling coronavirus test kits for home use in a March 31, 2020 press release issued by the Company."

https://www.sec.gov/litigation/suspensions/2020/34-88627.pdf

Order:

https://www.sec.gov/litigation/suspensions/2020/34-88627-o.pdf

CEO EMAIL->>- info@appliedbiocorp.com

To be added to the Applied BioSciences email distribution list, please email info@appliedbiocorp.com with APPB in the subject line.

Contact-Email-ir@appliedbiocorp.com

Looking at the 8 ounce hand sanitizer

Have you tried ordering one?

YEP_ OS IS DELICIOUS JUST 4 MILLION SHARES FLOAT

$BRING IT ON$

$APPB = Get Some

Assuming that that's true, it wouldn't preclude the possibility that APPB is one of their sub-distributors. The warning letter from the Chinese manufacturer did also specifically include sub-distributors.

$MORE PRODUCTS TO COMBAT COVID19 TO ANNOUNCED ANY DAY NOW

Lol, ~DrugDoctor~Did the same thing with A*TU..https://investorshub.advfn.com/boards/profile.aspx?user=60725&page=15

Lol read read..https://investorshub.advfn.com/boards/profile.aspx?user=60725&page=16

But now DrugDoctor is praising the same Stock he was being negative on lol. He bashed the other play, Snatched shares then started pumping it lol

DrugDoctor playing the same game with APPB to Snatch shares from weak hands lol

BULLSHIT $APPB WORKING WITH DISTRIBUTOR IN CHINA WORKING ON THE AGREEMENT WEBSITE WILL UP SOON

Beware, $APPB already deactivated the fake COV19-test-link>>>

So here is the 3/31/20 FAKE NEWS PR about the COV19 tests... It's still up on OTC Markets website..

But look at the link 16 lines down.... Click on it... ooops... it's gone!

https://www.otcmarkets.com/stock/APPB/news/Applied-BioSciences-Begins-Offering-Coronavirus-Test-Kit-to-the-General-Public-to-Combat-Spread-of-COVID-19?id=257970

PAGE NOT FOUND \/ \/ LOL LOL

https://remedishop.com/product/coronavirus-test-kit/

They know another company has an exclusive, you can see that on the product label here>>>



And here is the PR that says EXCLUSIVE distributors>>>

https://finance.yahoo.com/news/aytu-bioscience-secures-exclusive-u-120500962.html

#CNBC..#YAHOO..HAND..SANITIZERS..Available..Here...https://www.accesswire.com/582478/Applied-BioSciences-Announces-Launch-of-Remedi-Pure-Product-Line-to-Combat-Spread-of-COVID-19



ORDER Hand Sanitizers Here...https://healthyhandsanitizer.




Ticket $AppB...

LOL - More fake NEWS... Wow...

Lol, that’s pure crappy perspective, No such thing $APPB can sell same product, just the same way one can go to WALGREENS and see the same product being sold at CVS pharmacy or Walmart. It’s called a distribution. Lol.

$Aytu has 230 Million shares outstanding lol, People will be abandoning $Aytu company and to associate $APPB because of beautifully awesome Float of 4.2 Million shares that $APPB has. See the awesome huge huge sanitizers $APPB is selling?

Good, since $AYTU has exclusive distribution rights, the lawsuit against $APPB should be a nice one... READ THE LABEL!

LMAO WRONG BROS_ $APPB PRODUCTS SOLF OUT NEW ORDERS WILL BE SHIPPING TUESDAY THE 7TH AND WEDNESDAY THE 8TH

ROFL_ARE $AYTU FOLKS/EXECS TREMBLING OVER A LITTLE COMPETION BECAUSE FOLKS WILL RATHER BUY $APPB AND IT'S PRODUCTS WHICH INCLUDE HAND SANITIZERS?? ALSO $APPB FLOAT IS MUCH BETTER WITH ONLY JUST 4 MILLION FLOAT.

AND IN ADDITION MORE $APPB PRODUCTS TO COMBAT COVID19 WILL BE LAUNCHED THIS MONTH

LMAO WRONG_AGAIN_BROS_HAS NOTHING TO DO WITH THE COMPANY. NOT ON LIST LMAO GLTY

Your concern is noted. However, Zhejiang Orient Gene Biotech Co Ltd is not on the list of FDA scams and their order prohibiting online sales of their test kits seems to be designed not to run afoul of regulatory guidelines (either that or they're trying to level the playing field for their marketing partners). APPB has complied with the company's order so they should continue to receive shipments and be able to sell product. It may, however, put a crimp in their marketing.

The SEC is shutting down FAKE COV19 product selling companies left and right...

Be very careful with this one...

https://secsearch.sec.gov/search/docs?affiliate=secsearch&dc=654&query=coronavirus


https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-alerts/look-out

That's FAKE NEWS First, $APPB website says...

Test Kits will continue shipping on April 8th

https://remedishop.com/product/coronavirus-test-kit/

So that means they don't have any kits..

Now... These tests are manufactured by Orient Gene Biotech in China and $AYTU has exclusive rights... All online sales must cease..

You can see this here..

http://www.orientgene.com/asp-en/news/detail.aspx?id=8396

Mr..PRESIDENT..~COVID19~..**Home..Testing..KITS..&..Hand..Sanitizer..Available..here**...https://www.otcmarkets.com/stock/APPB/news/Applied-BioSciences-Begins-Offering-Coronavirus-Test-Kit-to-the-General-Public-to-Combat-Spread-of-COVID-19?id=257970



Order.. COVID19 Testing Kits Here...https://remedishop.com/product/coronavirus-test-kit/



AppB...Hand..Sanitizer News...https://www.otcmarkets.com/stock/APPB/news/story?e&id=1561170



ORDER Hand Sanitizers Here...https://healthyhandsanitizer.




Ticket $AppB..FLOAT.....4 Million

$AppB..COVIDA19..Hand..Sanitizer..Just..Launched...https://healthyhandsanitizer.com/

Applied BioSciences Expands TherPet Line with Equine Care Line
...https://www.otcmarkets.com/stock/APPB/news/Applied-BioSciences-Expands-TherPet-Line-with-Equine-Care-Line?id=191818

Applied BioSciences Expands Distribution through LeafLink ....https://www.otcmarkets.com/stock/APPB/news/Applied-BioSciences-Expands-Distribution-through-LeafLink?id=189382

Contact -Email ir@appliedbiocorp.com or info@appliedbiocorp.com

To be added to the Applied BioSciences email distribution list, please email info@appliedbiocorp.com with APPB in the subject line.

Bought 15,000 shares, let's see this MOFO hit $1.50+++++

Go $APPB

I knew I heard of this before, it was in the MJ space. GLTA next week.

$APPB HIRES FORMER PFIZER EXECUTIVE _https://www.otcmarkets.com/stock/APPB/news/Applied-Biosciences-Hires-Former-Pfizer-Business-Unit-Chief-Medical-Officer-as-Chief-Executive-Officer?id=227296

$APPB WASHINGTON DEPARTMENT OF AGRICULTURE CONTRACT_ https://www.bloomberg.com/press-releases/2019-12-18/applied-biosciences-subsidiary-trace-analytics-receives-extension-of-contract-of-services-from-washington-state-dep

YES, INDEED $APPB

LOOKS LIKE THEY ARE SOLD OUT UNTIL APRIL 8

The test kits are offered on the Remedi website. I assumed they'd have the Remedi brand but I could be wrong. They may simply be re-selling a Chinese product. Either way, they should be able to make some profit simply on volume even if they limit their margin for humanitarian reasons.

Just a matter of time too!

$2.00 test coming.. Followed by $3.50