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.

[email protected]
Investor Relations

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 Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists discussed...
Elon Musk is among the notable industry figures who worries about the power of AI to destroy rather than help society. Mark Zuckerberg, on the other hand, embraces all that is going on. AI is most powerful when deployed across the vast networks being built for Internets of Things in the manufacturing, transportation and logistics, retail, healthcare, government and other sectors. Is AI transforming IoT for the good or the bad? Do we need to worry about its potential destructive power? Or will we...
Cloud-based disaster recovery is critical to any production environment and is a high priority for many enterprise organizations today. Nearly 40% of organizations have had to execute their BCDR plan due to a service disruption in the past two years. Zerto on IBM Cloud offer VMware and Microsoft customers simple, automated recovery of on-premise VMware and Microsoft workloads to IBM Cloud data centers.
Many organizations adopt DevOps to reduce cycle times and deliver software faster; some take on DevOps to drive higher quality and better end-user experience; others look to DevOps for a clearer line-of-sight to customers to drive better business impacts. In truth, these three foundations go together. In this power panel at @DevOpsSummit 21st Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, industry experts will discuss how leading organizations build application success from all...
SYS-CON Events announced today that SIGMA Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. uLaser flow inspection device from the Japanese top share to Global Standard! Then, make the best use of data to flip to next page. For more information, visit http://www.sigma-k.co.jp/en/.
SYS-CON Events announced today that Daiya Industry will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Daiya Industry specializes in orthotic support systems and assistive devices with pneumatic artificial muscles in order to contribute to an extended healthy life expectancy. For more information, please visit https://www.daiyak...
The last two years has seen discussions about cloud computing evolve from the public / private / hybrid split to the reality that most enterprises will be creating a complex, multi-cloud strategy. Companies are wary of committing all of their resources to a single cloud, and instead are choosing to spread the risk – and the benefits – of cloud computing across multiple providers and internal infrastructures, as they follow their business needs. Will this approach be successful? How large is the ...
Your clients expect transactions to never fail, cloud access to be fast and always on, and their data to be protected - no exceptions. Hear about how Secure Service Container (SSC), an IBM-exclusive open technology, enables secure building and hosting of next-generation applications, both cloud and on-premises. SSC protects the full stack from external and insider threats, allows automatic encryption of data in-flight and at-rest, and is tamper-resistant during installation and runtime – with no...