On June 14, 2008, Todd Hathaway, an active duty Army Major who provided MPI via
Mark Goldes a short-term bridge loan in 2006 in the amount of $55K that went
into default that same year, a loan that was signed over to another
non-accredited third party in 2007 with the option to convert the loan to MPI
stock, wrote:
As of June 14, 2008, complaints have been filed with the Securities and
Exchange Commision (SEC) to investigate alleged fraudulent investment
activities. Persons who have information related to this matter may forward
information to the following:
SEC Complaint Center, 100 F Street NE, Washington, D.C. 20549-0213. You can
also send a fax to 202-772-9295. Please reference Magnetic Power, Inc., 301 N
Main St # A, Sebastopol, CA 95472, in your correspondence.
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Anyone with information regarding this matter may also contact info {at}
sci-us.org if you do not feel comfortable contacting a government entity, or
you may submit an email to my attorney in DC (my brother in law who lives down
the street from the SEC) directly at maccoby {at} aol.com."
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Rebuttal by Mark Goldes (June 14, 2008)
(Response A): MPI is a private firm. The SEC has no jurisdiction over private
companies. Therefore, [the] statement that we are under investigation by the
SEC is libel.
(Response B): Although MPI is a private firm. I see that I was mistaken, the
SEC does have jurisdiction if private firms have not complied with the
requirements, as I believe we have, under exemptions. This complaint resulted
from a long overdue loan. I do not believe there was any such violation. There
has never been fraud on the part of our firm.
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I'll be happy to help you Todd.
--Penny <http://peswiki.com/index.php/User:Penny_Gruber> Gruber 04:26, 16 Jun
2008 (EDT)
Todd, contact me privately. I have several suggestions that may be helpful.
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On June 14, 2008, an MPI associate wrote, "I think that it is provable that
Mark raised money from unsophisticated people, including some investors, and a
lot of creditors via the use of convertible stock, with a total disregard for
anything but his personal wants and needs. Let me know if there is anyway I can
help, now that it’s started."
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The same MPI associate previously stated that MPI defaulted on several hundred
thousand dollars in loans in 2007 alone. This person also previously stated
that he/she was unaware of any technology developed by MPI to be "over unity"
as the term is commonly recognized by the scientific community, a statement
made in 2007 when MPI/ROOTS had already received millions in funding, a total
amount that is now approaching $10 million since MPI/ROOTS's inception, which
affords MPI's willingness to sue skeptics like NEC member, Eric Kreig.
Based on the information presented by MPI personnel, NEC member Eddie Sines and
former NEC member Todd Hathaway also concluded in 2007 that MPI does not have
"over unity" technology, as the term is commonly recognized by the scientific
community. MPI's consistent claims of over unity devices have been ongoing for
many years. The NEC wiki pages listing MPI and its claims continue to lend MPI
credibility at the expense of investors, as the "Magnetic Power Inc. has
created several Over Unity prototype devices." statement posted on MPI's NEC
wiki comments page
(http://peswiki.com/index.php/Talk:Directory:Magnetic_Power_Inc) proves.
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The debate on what exactly MPI has available to demonstrate would end with a
live demonstration on <http://www.justin.tv/mpi_demo>
http://www.justin.tv/mpi_demo (password mpi_demo) free of charge to MPI, with
an unscreened call-in number posted on MPI's web site to answer any questions
that outside parties would have about the devices claimed below during the live
demonstration; the call-in number would prove that it is MPI facilitating the
demonstration and would show MPI's willingness (or lack thereof) to demonstrate
what it has been claiming it has developed now for several years.
