price_and_volume
1年前
Belief is one thing. Convincing others is another.
The boards exist to discuss companies & their managements & their prospects - good or bad.
But the biggest posters on this board (like every board) worked overtime to convince each other their fantasy of 100-bagger is going to come true for that small select group of "true longs".
They try to convince others to never sell and always average-down.
Those sheep are providing their exit liquidity.
Questions are ridiculed: "Do your own DD! True longs know what we hold!"
Disclosing lies gets attacked: "Bashers want your shares, make them chase!"
Those douchebags have now moved on, but you can see the board's biggest pumpers make identical posts today elsewhere.
Pick yer spots, take yer shots.
It works or it doesn't, but once you start believing, and holding into the abyss, you're F'd.
GLTA
Mike198571
1年前
No worries.. f..k him.. i'm already sharing this everywhere:
GSTC & VXIT You should read this again all 13pgs.
STATEMENT OF CHARGES
Please take notice that the Securities Administrator of the State of Washington has reason to believe
that Respondents James Katzaroff, VirExit Technologies, Inc., and Globestar Therapeutics Corporation
(collectively “Respondents”) violated the Securities Act of Washington.
https://dfi.wa.gov/documents/securities-orders/S-23-3528-24-SO01.pdf
GSTC raised $499,500 from sixteen investors in February of 2021... Katzaroff primarily offered the investments by email and phone, though he did meet some investors in person.
Katzaroff told investors that GSTC had a patent for a drug cocktail to treat multiple sclerosis.
Katzaroff told the investors that the drug cocktail’s component drugs had already been approved by the FDA, so the cocktail would be on an accelerated approval basis.
Katzaroff gave investors the impression there was minimal risk because the component drugs were already FDA approved, so the approval process for the combination should have been “perfunctory.”
Katzaroff told investors that he had friends in hospital systems that would do the clinical trials for FDA approval.
Katzaroff failed to disclose... that he had recently purchased GSTC and still owed funds for the purchase.
Katzaroff failed to disclose that at least 85% of the raised funds were spent on payments to Blankenship for the purchase of GSTC, marketing, and payments to Katzaroff himself.
To date, neither Katzaroff nor GSTC has provided investors or the Securities Division with evidence that GSTC has conducted clinical trials for the drug cocktail.
When questioned, Katzaroff could not tell the Division what steps GSTC would need to take to get FDA approval for its drug cocktail.
Katzaroff testified that GSTC eventually pivoted to doing drug trials in India in November of 2022, however, at that point all investor funds from the initial February 2021 offering had been spent.
Katzaroff did not provide the division with records indicating that legitimate steps had been taken towards securing a clinical trial for its drug cocktail before investor funds had been spent.
Katzaroff gave at least one investor the impression that the trials had minimal risk of failure.
*************
And i mean everywhere.. i have shared this under almost all posts of katzaroff at linkedin and he finally deleted his profile picture on the platform.. i have shared this on VXIT "X" profile under few posts, and i have sent email to many people whom knows this pos haha katzarof even wrote email to me and asked to stop and started lying that he is working on something wonderful for us (another lies)
Now i will destroy his reputation everywhere.. everyone will know that he is lying fraud and pos
price_and_volume
1年前
He only talks directly to easy MARKS.
i talked with this pos in the past but seems i was too harsh for him and he doesn't want to talk with me anymore 😂 CONMEN require direct-contact to charm their marks.
Once the gig is up and he realizes you can't be conned, then its a losing situation for him to take the call, so he won't.
Oh well, live & learn.
As I've stated countless times here & elsewhere - it's a MISTAKE to ever contact an OTC CEO in pursuit of DD.
Read filings, & pay attention to price-action to determine whether the filings might be accurate or not.
The market, and insiders, know what's up - that WILL BE reflected in price-action.
OTC retail who believe they've uncovered a gem nobody knows about yet are a dime a dozen.
Unfortunately the bags they'll be left holding aren't worth those dimes.
GL!
Mike198571
1年前
And not 10 but 15days you expert...
Grace Period
Securities enter a Grace Period when OTC Markets Group is no longer able to confirm that the issuer’s disclosure is current and publicly available as required under Rule 15c2-11. When a security enters a Grace Period, it can continue to be publicly quoted for 15 days. At the end of the 15-day Grace Period, if the required disclosure is not available, the security will move to the Expert Market for unsolicited quoting only, unless OTC Markets Group determines another exception under Rule 15c2-11 applies, such as the Large Company/ADTV exception.
Mike198571
1年前
Previous comment was related to this doc :
https://dfi.wa.gov/documents/securities-orders/S-23-3528-24-FO01.pdf
Below comment is related to this document :
https://dfi.wa.gov/documents/securities-orders/S-23-3528-24-SO01.pdf
The **Stop Order Denying Effectiveness** and **Statement of Charges** (Order No. S-23-3528-24-SO01) issued by the Washington State Securities Division reinforces and expands upon the findings in the prior **Final Order** (S-23-3528-24-FO01). Here’s a breakdown of its legal implications and key conclusions:
---
### **Key Findings and Legal Analysis**
#### **1. Violations of Securities Laws**
- **Unregistered Offerings (RCW 21.20.140):**
Katzaroff and his companies sold securities for VirExit and GSTC without registration or valid exemptions. Both offerings (2021) involved **general solicitation** (emails, phone calls, referrals to strangers), violating Regulation D Rule 506(b), which prohibits public advertising.
- **Unregistered Broker Activity (RCW 21.20.040):**
Katzaroff acted as an unregistered broker-dealer by soliciting and selling securities.
#### **2. Fraudulent Conduct (RCW 21.20.010):**
- **Material Misrepresentations:**
- **VirExit:** Investors were told funds would develop PPE, but ~70% went to marketing, legal fees, and payments to Katzaroff/Sonfield.
- **GSTC:** Investors were misled about FDA approval timelines, clinical trial risks, and use of funds (~85% paid Blankenship, Katzaroff, and marketing).
- **Omissions of Material Facts:**
- Risks (e.g., market competition, supply chain issues, lock-up periods).
- Failure to disclose past unregistered offerings in VirExit’s 2023 Regulation A filing.
#### **3. Pattern of Misconduct:**
- **2023 Registration Filing:** VirExit’s application omitted prior misconduct, misused investor funds, and failed to pay required fees, demonstrating ongoing deceptive practices.
- **Affiliated Parties:** Katzaroff’s association with Sonfield and Blankenship (both with SEC violations) raises concerns about due diligence and ethical standards.
#### **4. Administrative Enforcement Actions:**
- **Stop Order (RCW 21.20.280):** Denies effectiveness to VirExit’s 2023 registration due to material omissions and false statements.
- **Proposed Penalties:**
- **Fines:** $60,000 (Katzaroff), $30,000 (each company).
- **Costs:** $25,000 jointly.
- **Revocation of Exemptions:** Bars VirExit and GSTC from relying on key registration exemptions.
- **Cease and Desist Orders:** Permanent injunctions against further violations.
---
### **Legal Conclusion**
This document serves as the **charging instrument** and **preliminary findings** that led to the subsequent **Final Order**. The Securities Division followed proper procedure:
1. Issued a **Notice of Charges** with tentative findings.
2. Provided Respondents an opportunity to request a hearing (which they declined).
3. Adopted the findings as final after no defense was mounted.
The allegations, if unchallenged (as they were), establish a **prima facie case** of securities fraud under Washington law. The findings demonstrate **intentional deception**, **reckless disregard for investor protection**, and **systemic non-compliance** with registration requirements.
---
### **Recommendations**
- **For Investors:** Pursue civil remedies (e.g., rescission, damages) under RCW 21.20.430.
- **For Regulators:** Consider referring the case to criminal authorities if evidence of **scienter** (intent to defraud) is present.
- **For Katzaroff/Companies:** Compliance with the order is mandatory; failure could lead to contempt charges or escalated penalties.
This order, combined with the Final Order, solidifies the administrative case against Katzaroff as a **fraudulent actor** in securities transactions.
Mike198571
1年前
Just for fun I have asked AI to analyze documents regarding jk (POS) legal case:
From a legal standpoint, the Washington State Securities Division's **Final Order** establishes that **James Katzaroff** engaged in fraudulent conduct under the **Securities Act of Washington**. Key findings supporting this conclusion include:
### **1. Material Misrepresentations and Omissions**
- **VirExit**: Katzaroff falsely claimed investor funds would be used for PPE development but diverted ~70% to marketing, legal fees, and executive payments (including himself). He also failed to disclose risks (e.g., competition, supply chain issues) and lock-up periods, leaving investors unable to sell shares.
- **GSTC**: He misrepresented the FDA approval process for a drug cocktail, asserting accelerated approval due to pre-approved components. However, no clinical trials were conducted, and ~85% of funds were used to pay the prior owner (Blankenship), marketing, and himself.
### **2. Violations of Securities Laws**
- **Unregistered Offerings**: Both companies sold securities without registration or valid exemptions (violating RCW 21.20.140).
- **General Solicitation**: Katzaroff solicited investors without pre-existing relationships, breaching Regulation D Rule 506(b).
- **Unregistered Broker Activity**: Katzaroff acted as an unregistered broker-dealer (violating RCW 21.20.040).
### **3. Anti-Fraud Violations (RCW 21.20.010)**
The order explicitly concludes Katzaroff made **untrue statements** and **omitted material facts** (e.g., misuse of funds, risks, lock-up periods), satisfying the elements of securities fraud.
### **4. Pattern of Deception**
- **2023 Registration Filing**: VirExit’s Regulation A application omitted past misconduct and misused funds, further demonstrating intent to mislead.
- **Failure to Defend**: Katzaroff’s failure to contest the charges (by not requesting a hearing) strengthens the administrative findings.
### **Legal Conclusion**
The Securities Division’s findings meet the standard for fraud under Washington law, as Katzaroff’s actions involved **intentional deception**, **material misstatements**, and **personal gain at investors’ expense**. The order imposes fines, revokes exemptions, and denies registration, reflecting the severity of the violations.
**Advice**: Katzaroff’s conduct constitutes securities fraud under administrative and civil standards. Investors may pursue further civil remedies, and criminal charges could follow if evidence of intent is substantiated beyond this proceeding.
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