Welcome!

News Feed Item

Alternative Energy Partners (OTC BB: AEGY) Response to Recent SEC Suspension of Trading

LOS ANGELES, CA -- (Marketwired) -- 06/09/14 -- The SEC determined on June 6, 2014 to impose a temporary suspension in trading of the stock of Alternative Energy Partners, Inc. (OTCBB: AEGY) (OTC Pink: AEGY) (PINKSHEETS: AEGY) ("the Company") that may extend through June 19, 2014. The purpose of this statement is to inform shareholders about the information currently available to the Company and to address, to the extent possible, several of the questions we have received from shareholders and investors.

The Company did not have any advance warning, hint, or knowledge of the impending SEC suspension order. The Company learned of the SEC's actions at the same time as the market, on the morning of June 6, 2014 and has not received any direct communication from the SEC. The Company has no knowledge of irregularities that may warrant a suspension of trading in its securities but the fact remains that the SEC ordered a trading halt, as it is permitted to do by law.

The Company has reached out to the SEC to learn the SEC's concerns and then endeavor to address them. The Company will not speculate about the reasons, and the Company recommends that investors, even though they are disappointed by this temporary result, not speculate either but wait to see what happens as a result of this process. As soon as any regulatory concerns are identified for the Company, the Company will address them fully.

The Company understands that the SEC has expressed concerns with the market sector, medical cannabis, in which the Company operates and has shut down several companies in that space before its recent order affecting the Company. We are operating a viable, established, and visible business in California, as we have been doing for over a year, and are distinguishable from the many companies in the medical marijuana space that are little more than stock promotions.

The Company continues and will continue to operate its business in all of its forms, notwithstanding the SEC order. The SEC order does not affect the Company's core and day-to-day business operations and we will continue to deliver high quality products and services that enhance the lives of medical cannabis patients in California.

If the history of other stocks in the marketplace is any guide, after the SEC order expires or when trading resumes there is likely to be a negative impact on the market price of the Company's stock. The Company will do everything it reasonably can do, within the regulatory requirements, to minimize the impact of the SEC's decision on its shareholders and business relationships. We urge our shareholders, customers, and partners to engage in calm consideration of information as it becomes available but we do understand that this is a very difficult time for all involved. We appreciate your frustration, as we are similarly frustrated. We have operated in this space for more than a year and are perplexed after having built a lawful new business, in a new and growing space, that is viable, visible, active, and objectively confirmable, to find that the SEC has as yet undisclosed concerns, but they are engaging in their role as provided by law and we respect that. While the SEC did not provide more than formalistic language justifying the suspension in its order, that too is their prerogative. We look forward to working with the SEC to identify its concerns and address them proactively.

We are confident that we are building an industry leading business in the medical cannabis space and we will continue to do so. Undoubtedly those on the investor boards who accomplish some form of investment reward by spreading fear, uncertainty, and doubt, will use this as an opportunity to do so with even louder volume; but do not be misled, they too lack any information as to why the SEC did what it did, as only the SEC knows that. We certainly are not going to opine on that subject and we would caution you to view with a great deal of skepticism anyone on any investor board who does so.

We are committed to launching the products and services we have already announced we will launch -- they are under development and some are nearly finished. We are also continuing to move ahead with the merger we have already announced and hope to complete that shortly but in due course given the current situation.

We remain fully dedicated to finding out what gave rise to the SEC concerns and to keeping shareholders fully informed when reliable information is obtained. In the meanwhile, we ask that our shareholders and investors maintain a demeanor of calm and patience notwithstanding frustrations that we all feel in this challenging time. Acting on frustration will not accelerate our path through this process and may actually hinder it.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.