GMC Holding Now a Private Company
GMC Holdings is now a private company, as a result of a settlement with the SEC on April 5th. The order is shown below.
GMC holdings on April 7th changed its webpage to reflect this change in status and made the following statement indicating that the SEC investigation is not yet closed.
The management of GMC Holding Corp. would like to inform our stockholders of the events and conditions currently facing the company. The Securities and Exchange Commission has instituted an investigation of GMC’s management, financial reporting and progress on technologies. We are fully complying with the Securities and Exchange Commission in the attempt to assist them with this investigation to accelerate a conclusion. We are confident that our complete disclosure of all information regarding our business practices, financial condition and current R&D progress will facilitate this result. In order to protect our shareholders, we requested an expedited delisting at this juncture. We wish to assure our stockholders that even though we are not trading, it is business as usual for the company.
We continue our efforts to improve our Cold Motor and other complimentary technologies. Negotiations continue with parties interested in purchasing a portion, or all of our technology. Once we have reached a resolution with the Securities and Exchange Commission, we have identified plans to move the company forward assuring that our bona fide stockholders will benefit and share in any sale of our REMAT technologies assuring that our bona fide stockholders will benefit and share in any sale of our REMAT technologies
Lee Webb has also posted updates to his Feb 15 Stockwatch article on April 7 and March 8. And there is a new Stockwatch article April 10.