The Investor’s Watchdog

The Investor's Watchdog

SEC Announces Clean Energy Company Quantumsphere, Inc. and Online Gaming Website Developer Seaniemac International Defaulted on Periodic Filings

Wednesday, August 14, 2019

Quantumsphere, Inc. (stock symbol “QSIM”) is a defaulted Nevada corporation located in Irvine, California that offers integrated product solutions for multiple power and clean energy applications. According to the Order, the company failed to file periodic reports with the SEC since it filed a Form 10-Q for the period that ended on March 31, 2017. This filing reported a net loss of $2,886,447 for the prior nine months. In August 2017, the company filed for Chapter 7 Bankruptcy.

Seaniemac International, Ltd. (stock symbol “BETS”) is a revoked Nevada corporation located in Huntington, New York that develops an online gaming website that offers betting games such as poker. According to the Order, the company failed to file periodic reports with the SEC since it filed a Form 10-Q for the period that ended on September 30, 2016. This filing reported a loss of over $3.6 million for the prior nine months. On November 5, 2014, the SEC entered an order directing BETS to cease and desist from further violations of Exchange Act Section 13(a) for failing to disclose certain issuances of unregistered shares of its common stock and related financing arrangements.

As a result of the Quantumsphere, Inc. and Seaniemac International, Ltd. failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and/or 13a-13. The SEC requests an investigation to determine whether these allegations are true and, if deemed necessary, to instill a sanction on the companies to protect future investors.

If you invested and lost money in these companies due to bad investment advice from your broker, you may be able to recover your losses. Contact us today at 1-877-410-8172 for a free consultation.

Author: Jason T. Albin

Jason Albin is an Attorney and Partner at ChapmanAlbin, the investor rights law firm. He has represented hundreds of investors who have lost money due to broker misconduct, unsuitable investment advice and fraud.​ Jason also represents individuals in “whistleblower” suits filed against unscrupulous companies that try to defraud the US federal and state governments.

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