Regulation S-X

Gen II Fund Services Expands Leadership Team with Five New Principal Promotions

Retrieved on:

Tuesday, February 27, 2024

ASC, Accounting, Growth, Regulation, Gen, Regulation S-X, Organization, Information, Security (finance)

NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Gen II Fund Services, LLC (“Gen II”), a leading independent private capital fund administrator, today announced the promotion of five new principals, showcasing its commitment to growth within and its investment in the professional development of its employees.

Key Points:

NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Gen II Fund Services, LLC (“Gen II”), a leading independent private capital fund administrator, today announced the promotion of five new principals, showcasing its commitment to growth within and its investment in the professional development of its employees.
The Gen II 2024 Principal Class includes:
Dima is a Principal of Gen II and has been with the company for over 6 years.
Michael is a Principal of Gen II and has extensive expertise in credit fund operations with significant expertise managing organizations that provide outsourced services to fund managers.
Katerina is a Principal of Gen II and has been with the company for over 2 years.

Buxton Helmsley Issues Letter to EchoStar Directors Regarding Failure to Address Investors Amid Apparent Accounting and Securities Fraud, Apparent Fraudulent Conveyances, and Apparent Breaches of Fiduciary Duty in Connection with DISH Merger

Retrieved on:

Monday, February 5, 2024

Professional Services, Other Professional Services, Finance, Asset Management, Consulting, Banking, GAAP, Regulation S-X, EchoStar, Regulation, BHG, Letter, Dish Network

The Buxton Helmsley Group, Inc. (together with certain of its affiliates, “BHG” or “we”), the New York City-based investment fund manager with financial interests in EchoStar Corporation (“EchoStar” or the “Company”) (NASDAQ: SATS), today issued an open letter (the “Letter”) to the Company’s Board of Directors, given their complete failure to address (not even having denied) the serious matters raised in BHG’s January 22, 2024, open letter, which discussed apparent material misstatements of financials (apparent, undisclosed asset value depreciation expenses, in apparent violation of GAAP ASC 350/360 and Regulation S-X), and apparent fraudulent conveyances occurring after the Company was privately notified by BHG (on December 27, 2023) as to findings of evidenced net asset insolvency at DISH Network Corporation.

Key Points:

The Buxton Helmsley Group, Inc. (together with certain of its affiliates, “BHG” or “we”), the New York City-based investment fund manager with financial interests in EchoStar Corporation (“EchoStar” or the “Company”) (NASDAQ: SATS), today issued an open letter (the “Letter”) to the Company’s Board of Directors, given their complete failure to address (not even having denied) the serious matters raised in BHG’s January 22, 2024, open letter, which discussed apparent material misstatements of financials (apparent, undisclosed asset value depreciation expenses, in apparent violation of GAAP ASC 350/360 and Regulation S-X), and apparent fraudulent conveyances occurring after the Company was privately notified by BHG (on December 27, 2023) as to findings of evidenced net asset insolvency at DISH Network Corporation.
Despite material declines in the trading values of the Company’s issued securities after BHG’s January 22, 2024, open letter, the Company and its Board of Directors have remained silent, with no public comment, and have provided no indication of an internal investigation being conducted, even after such extensively detailed, evidence-supported allegations of an apparent multibillion-dollar accounting and securities fraud scheme occurring at the Company, for which – as noted – the Company has not denied.
The Letter issued by BHG to the Company today, in addition to the instances of private correspondence leading up to this Letter, may be found at: https://www.buxtonhelmsley.com/sats/

Buxton Helmsley Issues Statement on Mallinckrodt plc. Bankruptcy Filing and Disclosures Revealing Apparently Concealed Intangible Asset Depreciation Expenses

Retrieved on:

Monday, September 11, 2023

Asset Management, Professional Services, Finance, Regulation S-X, Bankruptcy, Action Replay, Chapter 11, Title 11, United States Code, Disclosure, Form 10-Q, GAAP, BHG, Mallinckrodt, Accounting, United States bankruptcy court, Depreciation, NYSE, Regulation, Cryptocurrency

The Buxton Helmsley Group, Inc. (together with certain of its affiliates, “BHG” or “we”), the New York City-based investment advisor to certain clients with financial interests in Mallinckrodt Plc.

Key Points:

The Buxton Helmsley Group, Inc. (together with certain of its affiliates, “BHG” or “we”), the New York City-based investment advisor to certain clients with financial interests in Mallinckrodt Plc.
(“Mallinckrodt” or the “Company”) (NYSE: MNK), today issued the following statement regarding the Company’s August 28, 2023, filing for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware (Case No.
Such a delay in accrual of asset value depreciation expenses arguably violates the Company’s obligation to, under GAAP ASC 350/360 (and, even further, under Regulation S-X), accrue losses at the time those losses are affecting investors.
In other words, BHG’s allegations have arguably been vindicated.”
BHG’s March 17, 2023, public report alleging concealed asset value depreciation expenses, in addition to its public letters to the Company since, may be found at: https://www.buxtonhelmsley.com/mnk/

Marti Reports Solid Fourth Quarter 2022 Performance; Introduces Car-pooling Service Pilot

Retrieved on:

Friday, May 26, 2023

Marti Technologies Inc. (“Marti” or the “Company”), Turkey’s leading mobility app, today announced its financial results for the fourth quarter of 2022.

Key Points:

Marti Technologies Inc. (“Marti” or the “Company”), Turkey’s leading mobility app, today announced its financial results for the fourth quarter of 2022.
Marti Founder and Chief Executive Officer Alper Oktem said: “We are proud to have launched our car-pooling service in the fourth quarter of 2022, which is our first four-wheeled service offering and a complement to our existing two-wheeled offerings.
With the launch of our car-pooling service, Marti is now catering to a much larger customer base, in line with relative demand for four-wheeled vehicles.
General and administrative costs increased by 40% to $12.8 million compared to 2021 as team and marketing expenses increased primarily due to the introduction of our car-pooling service pilot.

International Land Alliance Announces OTC Markets Extension

Retrieved on:

Thursday, May 18, 2023

ILA, Regulation S-X, OTC Markets Group, OTCQB, Acquisition, Annual report, SAN, OTC, Form, CFO, Regulation, Undue hardship, Security (finance)

SAN DIEGO, CALIFORNIA, May 18, 2023 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB | ILAL), (“ILAL” or the “Company”), an international land investment and development firm, announced today that it has been working with OTC Markets Group, Inc. (“OTC”) and OTC has granted our request for an extension to file our Annual Report on Form 10-K for the period ending December 31, 2022 (the “Form 10-K”).

Key Points:

SAN DIEGO, CALIFORNIA, May 18, 2023 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB | ILAL), (“ILAL” or the “Company”), an international land investment and development firm, announced today that it has been working with OTC Markets Group, Inc. (“OTC”) and OTC has granted our request for an extension to file our Annual Report on Form 10-K for the period ending December 31, 2022 (the “Form 10-K”).
We are confident we will file the Form 10-K within the extended time frame provided by OTC Markets, during which time our stock will continue to be quoted on the OTCQB Marketplace operated by OTC.
Jason Sunstein, CFO of ILA, commented: “This has been an enormous undertaking and everyone here has been making contributions to see to this to completion.
“We are proud to have this significant milestone now behind us and expect the combined companies to deliver shareholder value in the future.”

Buxton Helmsley Issues Letter to Mallinckrodt Plc. Regarding Continued Evidentially False Statements of Financials

Retrieved on:

Friday, May 12, 2023

Banking, Accounting, Professional Services, Finance, United States Senate Committee on Finance, Regulation S-X, Letter, Failure, Commission, BHG, Mallinckrodt, GAAP, NYSE, Regulation, Pennsylvania State Board of Censors, Cryptocurrency

The Buxton Helmsley Group, Inc. (together with certain of its affiliates, “BHG” or “we”), the New York City-based investment advisor to clients with financial interests in Mallinckrodt Plc.

Key Points:

The Buxton Helmsley Group, Inc. (together with certain of its affiliates, “BHG” or “we”), the New York City-based investment advisor to clients with financial interests in Mallinckrodt Plc.
(“Mallinckrodt” or the “Company”) (NYSE: MNK), today issued an open letter (the “Letter”) to the Company’s Board of Directors, given the Company’s continued failure to make required write-downs of asset values where expenses are evidenced, in apparent violation of GAAP ASC 350/360 and Regulation S-X, within its May 9, 2023, Form 10-Q filing with the U.S. Securities and Exchange Commission (the “Commission”).
Since BHG’s March 17, 2023, public report, the Company has neither denied nor rebutted the “strong[ly] evidence[d]” (the Company’s own prior-professed evidentiary standard) apparent multibillion-dollar accounting and securities fraud scheme laid out therein.
The Letter issued by BHG to the Company today, in addition to BHG’s March 17 and April 28, 2023, public correspondence, may be found at: https://www.buxtonhelmsley.com/mnk/

Castellum, Inc. Announces Closing of GTMR Acquisition

Retrieved on:

Thursday, March 23, 2023

Regulation S-X, CTM, NYSE American, LOI, Internal Revenue Code, Acquisition, GTMR, Federation, Regulation, Castellum

(“GTMR”), a $10 million revenue government contractor based in Hollywood, Maryland near Naval Air Station Patuxent River.

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(“GTMR”), a $10 million revenue government contractor based in Hollywood, Maryland near Naval Air Station Patuxent River.
Pro forma for the acquisition, Castellum’s revenue run rate now exceeds $50 million.
“We are thrilled to announce the closing of the GTMR acquisition,” said Mark Fuller, President and CEO of Castellum .
We now shift our focus to closing our other pending non-binding LOI, which we expect to do within the next 10-20 days, as well as looking for our next acquisition.”

Greenfire Resources Inc. and M3-Brigade Acquisition III Corp. Announce US$950 million Business Combination

Retrieved on:

Thursday, December 15, 2022

The Business Combinationwas unanimously recommended and approved by the boards of directors of both Greenfire and MBSC.

Key Points:

The Business Combinationwas unanimously recommended and approved by the boards of directors of both Greenfire and MBSC.
Shareholders holding approximately 84% of the aggregate voting power of Greenfire have executed support agreements whereby they agreed to vote in favor of the Business Combination.
Carter Ledyard & Milburn LLP, Burnet, Duckworth & Palmer LLP and Felesky Flynn LLP are acting as counsel to Greenfire.
GRL, MBSC and Greenfire, and their respective directors and executive officers, may be deemed participants in the solicitation of proxies of MBSC's stockholders in respect of the Business Combination.

FOMO CORP. REBRANDS AS “FOMO WORLDWIDE”; UPDATES ON FINANCIAL REVIEW

Retrieved on:

Wednesday, November 16, 2022

LP, FOMO, Growth, Regulation, Accounting, Regulation S-X, Acceleration, SST, Stock, School, Senior, HVAC, Book, FINRA, FASB, Record, Acquisition, Security (finance), Audit, Management, Finance

Additionally, FOMO is updating shareholders on its financial review process at its primary subsidiary, SMARTSolution Technologies L.P., acquired February 28, 2022.

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Additionally, FOMO is updating shareholders on its financial review process at its primary subsidiary, SMARTSolution Technologies L.P., acquired February 28, 2022.
A notice of non-reliance on financial statements for 1Q22 - 2Q22 has been filed on the Securities Exchange Commissions EDGAR system noting important information for investors.
Said Vik Grover, FOMO CEO: The accounting errors are being rectified by our team and private company auditors.
We are working with our private company auditors and advisors to implement improved financial policies and controls for SST going forward.

Marti Reports Strong Third Quarter 2022 Financial Results

Retrieved on:

Wednesday, October 26, 2022

Other Travel, Software, Transportation, Travel, Technology, Apps, Applications, IOT (Internet of Things), Mobile, Wireless, Registration statement, Transport, Android, Securities Act of 1933, Daou Technology Inc., Press release, IOS, Environment, Travel, Failure, Section 10 of the Canadian Charter of Rights and Freedoms, Communication, WHEN, THE, NYSE, GAAP, Investment, Depreciation, Private Securities Litigation Reform Act, Company, Regulation, Disclosure, Suite, Commute, Risk, Growth, ANY, Annual report, Register, Income, Security (finance), IOT, Technology, Intention, Net, U.S. Securities and Exchange Commission, Prospectus, Terminology, Securities Exchange Act of 1934, Regulation S-X, Trust, Traction, Sale, SEC, Oktem, Longevity, Acquisition, Exercise, F-4, Â, YTD, Form, Proxy, COVID-19, Lithium, Airline, Bookkeeping, Video game, Ridesharing company, Risk management, Bank, Audit, EBITDA

Marti Technologies Inc. (Marti or the Company), Turkeys leading mobility app, today announced its financial results for the third quarter ended September 30, 2022.

Key Points:

Marti Technologies Inc. (Marti or the Company), Turkeys leading mobility app, today announced its financial results for the third quarter ended September 30, 2022.
We increased prices by 10% quarter over quarter parallel to the currency devaluation of the Turkish lira by 11% during the quarter.
These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Companys financial results.
The Company believes these non-GAAP measures of financial results provide useful information for management and investors regarding certain financial and business trends relating to the Companys financial condition and results of operations.