Doyen Elements Creates Confusion For Cannabis Investors

Small shareholders in penny stocks typically have little power. They don’t own enough to make much of a difference with the owners and spending money on speculative investments doesn’t warrant sympathy as the prevailing attitude is buyer beware. The cannabis industry is no different, but with the preponderance of penny stocks within the industry, there is a tendency for companies to play fast and loose with investor money.

The SEC’s Office of Investor Education and Advocacy (OIEA)  regularly receives complaints about marijuana-related investments, and the SEC continues to bring enforcement actions in this area. Back in 2014, the SEC issued temporary trading suspensions for the common stock of five different companies that claimed their operations related to the marijuana industry.

In September of 2018, The SEC charged a Texas-based investment fund and its founder with defrauding investors with false promises of massive returns in cannabis-related businesses.  Michael Cone allegedly employed boiler room sales staff who made cold calls to investors and promised them up to 24 percent annual returns from investments in Greenview. According to the complaint, Cone spent investors’ money on designer clothes and luxury cars, and on payments to earlier investors to prolong the alleged scheme.  In a parallel criminal proceeding, the U.S. Attorney’s Office for the Central District of California charged Cone and seized approximately $1.4 million in cash and assets.

Doyen Elements

Doyen Elements (now known as Reach Genetics) has left a string of investors out in the cold each telling a similar story. In November of 2017, Green Market Report reported that Doyen Elements was planning to publicly list its shares on the OTC Market, and was accepting investments prior to its IPO at $7.00 a share. Doyen Elements said it had big plans and was currently building one of the largest grow facilities in North America. “This 234,000 sq. ft. behemoth of a building will be capable of producing upwards of 70,000 pounds of cannabis per year”. The company also suggested it would be going public shortly. Several investors decided to jump in and received a confirmation of their purchase and then that was it. The money was taken and all communication stopped.

The CEO of Doyen at the time was Geoffrey Thompson and in September of 2017, the SEC alleged that Thompson, acting through a company called  Accelera Innovations Inc. and Synergistic Holdings LLC, sold approximately $1.7 million worth of Accelera stock to investors and that the sale was not registered or subject to an exemption from registration.

At the same time that the SEC filed the complaint about Thompson and Accelera, Thompson and Doyen Elements were selling shares online.  “In September 2017, I purchased 143 shares of Doyen at $7.00 per share,” said Robert Satten. “I received a subscription agreement from them and till this point in time nothing else……No ticker symbol, no number to call, nothing.”

Another investor Luis Dominguez and his wife Charity told a similar story. “I was reading a lot about the cannabis industry and I thought this was going to become a big thing. I thought whoever invests in this is going to make very big money. I told my wife and we started looking for information on the company. We thought the shares were cheap. We bought the shares through their website online.”

Dominguez also said he received no information after the initial purchase confirmation. He went to the company’s Facebook (FB) page to find a way to contact the company. “I called them and someone picked up the phone but she said the company was moving and she would try to get me more information,” Dominguez said that was the last time he spoke to someone He continued to call but no one answered the phone.

Then he heard Doyen Elements had been sold or merged to a new company called Reach Genetics. “So, I started calling the new company and still no one answered the phone,” he said. Eventually, the persistent Dominguez finally spoke to someone who answered the phone. “I told him my story and he sounded annoyed. He said the new company didn’t buy the part of Doyen that I had my shares with. That my shares were with Doyen Elements and he gave me a phone number to call.” No one ever answered the new phone number.

Two Doyens

Thompson said the confusion stems from the fact that there are actually “two” Doyens. Doyen International (Canada) and Doyen Elements (U.S.). Thompson said the Doyen Elements company is the group that is ignoring shareholders and has renamed itself Reach Genetics. He said that this is the company these shareholders really invested in, not Doyen International. He said that Doyen International sued Doyen Elements accusing the group of hijacking the Reg. A fundraising and requesting that they stop using the Doyen name.

One shareholder that asked not to be named said he did receive an email about the name change to Reach Genetics, but that the phone number and emails he sent went unanswered. Reach Genetics is currently selling new shares for once again $7 a share. Reach Genetics has not responded to requests for comment.

Earlier this month Doyen International, Inc. announced it was rebranding and renaming itself to Covalent Collective. In addition, the company announced Bill Gregorak would be the Chief Executive Officer. Prior to being named CEO, Mr. Gregorak served as Chief Financial Officer of Covalent Collective since February 2018. Mr. Gregorak takes over as CEO from Geoffrey Thompson, a co-founder of Covalent Collective, who will continue as leader of merger and acquisitions.

This is the third rebranding for this company as its original name before Doyen was Advantameds. To make matters more confusing, Doyen International changed its name in October 2017 to Cynterra Earth Sciences to make an acquisition of Boulder Hemp and Slo-Hemp, but then in November 2017 changed its name back to Doyen International. This is according to the company’s legal documents.

Thompson and the SEC

Thompson’s problems with the SEC are not over. The current complaint with the company Accelera is still ongoing. Thompson said the two (he and the SEC) are close to reaching a settlement. The SEC would not comment on the matter. Thompson said he expects that he will be barred from serving as on an officer of a public company for three years.

According to the SEC filing, “The complaint seeks permanent injunctions, disgorgement of ill-gotten gains, civil penalties, an officer-and-director bar against Thompson, and penny stock bars against Thompson and Synergistic.” The SEC also separately charged Daniel Caravette, of St. Charles, Ill., with acting as an unregistered broker-dealer. Caravette’s alleged violations involved sales of stock in Accelera and a Canadian company founded by Thompson which claimed to be involved in medical marijuana production, distribution, infusion, research, and testing. The Canadian company referred to by the SEC but not named was Advantameds (the original Doyen).

Doyen’s Divorce

Thompson’s problems with the SEC meant that Doyen Elements wasn’t approved by the OTC to list its shares as originally planned. Remember, this is what the online investors in Doyen were told was imminent.  In order to try to reapply to the OTC again (according to court documents), Thompson retired from Doyen and surrendered his 16 million shares so that the company would have a better chance the next time it applied with the OTC.

The plan was that Thompson would leave the company so that its chances to get listed would be improved. According to one of the lawsuits, it was alleged that once Thompson had retired and surrendered his shares, the Doyen Elements folks set out to compete directly with the Doyen International folks. Taking the expensive rebranding work (over $200k) and the strategic plans with it.

Thus, the two Doyens split and Doyen Elements became Reach Genetics, which is unreachable and Doyen International became Covalent Collective. Thompson sued to get his shares back and rescind the retirement agreement.

Covalent Collective

Covalent just announced that completed its first acquisition which the company dubs the “Colorado 16.” This company includes ownership of real estate that leases multiple medical marijuana cultivations, production, and five Colorado medical cannabis dispensaries.

Looking Ahead

Some investors have said that Reach Genetics has begun to contact them, but with little information as to what has transpired. One investor who asked not to be named said, “They changed their name to Reach Genetics, now they did send me an e-mail saying that was their new name but that was last summer and I haven’t heard anything from them or anything about them. I have tried calling the toll free number for Reach Genetics and I have emailed them and I have emailed Cindy Boreum and each time I have not gotten any reply.”

Covalent Collective seems to be moving forward with Thompson, but not in a formal role. The company says that it has “A vision to build the largest grow capacity in the U.S.”

 

Debra Borchardt

Debra BorchardtDebra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


128 comments

  • Avatar
    john

    March 6, 2019 at 11:19 am

    Investment victims win $22.7 million
    Here is another scam this Geoffrey thompson ran in Minnesota before doyen apparently the state of Minnesota obtained a 22.7 million judgement against him
    Fyi

    By SUSAN FEYDER , STAR TRIBUNE
    July 28, 2008 – 11:34 PM

    More than 130 plaintiffs who sued Investment Properties of Minnesota, alleging that the company duped them in a real estate scheme, have been granted $22.7 million in damages under an order filed last week in Hennepin County District Court.

    A court-appointed special master determined the damages, which were several times more than the $3.5 million in losses originally estimated by the Minnesota Attorney General’s Office. The office sued the Brooklyn Park-based investment company in 2006, but it later asked to be dismissed from the case after the plaintiffs obtained private counsel.

    The plaintiffs say Investment Properties of Minnesota (IPM) and several related entities solicited funds for Illinois and Florida real estate ventures during investment seminars in 2004 and 2005. Investors claim they were promised returns of 30 to 35 percent. Their suit alleged that IPM failed to make the investments and defaulted on the loans.

    Last week’s order by Judge Denise Reilly said IPM principals Joseph Cole and Jim Abbott took some of the money for their personal use. The order says that according to IPM’s check ledgers, Abbott withdrew almost $500,000 and Cole withdrew nearly $42,000 from July 2004 to March 2005.

    A court-appointed receiver earlier reported that some of the money was diverted into what turned out to be a mammoth investment scheme run by Travis Correll in Atlanta. Correll has admitted to operating a pyramid scheme and has been sentenced to 12 years in federal prison.

    “It’s good to have gotten this order, but collecting the money is another matter,” said Robert Bauer, an Apple Valley attorney for 134 victims of the scheme. “We will take every reasonable step to find out where it is located,” he said.

    Bauer said his clients will seek a motion that would prevent Cole, Abbott and two other principals, Geoffrey and Nancy Thompson, from having the judgments against them discharged in bankruptcy court.

    Attorneys for Cole and the Thompsons could not be reached for comment Monday. Abbott’s attorney, Konstandinos Nicklow, said his client “is an innocent victim who has been caught up” in the scheme.

    Susan Feyder • 612-673-1723

    Reply

  • Avatar
    Luos

    March 12, 2019 at 10:16 pm

    Man did I get fucked by this asshole

    Reply

    • Avatar
      John

      March 13, 2019 at 10:56 pm

      What happened?

      Reply

  • Avatar
    John

    March 13, 2019 at 10:17 pm

    Wait, I am invested with them currently. They are saying 80-120 days or so until filling for IPO. But I get regular updates with out calling them.

    Reply

    • Avatar
      craig

      July 24, 2019 at 10:30 am

      John its been over 120 days since your comment any updates?o

      Reply

  • Avatar
    Michael

    March 15, 2019 at 11:58 pm

    John….did you post the original comment about the $22.7 million investment scam in MN and the comment about being invested with the company?

    Reply

    • Avatar
      John

      March 19, 2019 at 12:39 am

      No, different person. But know Geoff was caught in a situation due to rogue partners.

      Reply

  • Avatar
    Janet ruhl

    April 1, 2019 at 1:54 pm

    I invested in Doyen Elements in Oct 2017 I tried contacting them through e-mail calling and they never contacted me back After months of tiring I received an e-mail from Rich Kaiser when I called him he told me about Reach Genetics and again started to contact them about my investment and as of today April 1 2019 .I haven’t heard anything Thank you I hope to hear from someone on what to do next.Janet Lee Ruhl

    Reply

    • Debra Borchardt
      Debra Borchardt

      April 1, 2019 at 6:11 pm

      Good luck. Sadly that seems to be many investor’s experiences.

      Reply

      • Avatar
        Janet

        April 4, 2019 at 10:15 am

        Debra is there any way to contact this company at all and does this mean it was a scam from the start

        Reply

        • Debra Borchardt
          Debra Borchardt

          April 4, 2019 at 10:39 am

          Hi Janet,
          I have no more information on how to contact Reach Genetics. Perhaps you should contact the Attorney General for that state? Maybe the investors can begin exploring a class action suit? I’ve done as much as a reporter can do. Good luck.

          Reply

          • Avatar
            Janet ruhl

            April 12, 2019 at 4:14 pm

            Can you please give me the state

        • Avatar
          jgarrett39

          July 5, 2019 at 7:14 pm

          Janet,
          I was offered the chance to invest in some predecessor companies: accelera innovations, which I think was listed as being part of Advantameds. Several people in my circle of friends were investing due to a friend of Geoff’s touting the opportunity. I contacted a lawyer who warned me not to invest, so I declined. You may need to contact a lawyer or ombudsman at this point. Many people have invested with this guy, and the line for reimbursement is likely quite long. Sorry this happened to you.

          Reply

        • Avatar
          jgarrett39

          July 5, 2019 at 7:20 pm

          Janet,
          I wanted to add an answer about what state he is in. I recall that Geoff lives in Frankfort Illinois. I have no way of knowing what state his companies are registered in, though the investment contract he offered me was set up to apply Illinois law.

          Reply

    • Avatar
      Stephen Downs

      October 14, 2019 at 12:53 pm

      Janet ruhl, I also invested with them, lets talk. I am at 615-647-7586

      Reply

  • Avatar
    Sana

    April 19, 2019 at 2:20 am

    The news is very old from 2008. That is not the entire story. The company is not a scam. As an investor I get regular updates. Geoff is a great guy who is working very hard to get us gains. People are jealous of his success so I think right when the company is about to go public they want to spread false information so the company does not succeed. There has been issues and I have been waiting for a while but it doesn’t mean this whole thing is a fraud. It’s complicated and it will be successful. Let’s nit loose focus because some reporter has reported her thoughts! Good luck to covalent Collective!

    Reply

    • Debra Borchardt
      Debra Borchardt

      April 22, 2019 at 7:32 am

      Dear Sana,

      I am happy that you get regular updates. The people with Reach Genetics have not been very communicative according to numerous other people. With regards to your suggestion that my reporting is only “my thoughts” please be advised that Geoff told me himself that he expected to SEC to ban him from serving as a director of a public company. I have this on a digital recording. I have no issue with Covalent and wish them success.

      Debra Borchardt

      Reply

      • Avatar
        Mark

        June 18, 2019 at 1:00 pm

        Debra.
        I too have received numerous updates from Geoff Thompson. Covelant collective also has another contact person to help Geoff with as one could imagine a bombardment of questions that comes from an ever changing landscape .
        From what I have gathered and maybe a person in your position can help us out with, is, Covelant Collective has now fully complied with the SEC with out any instances. Also, once the audit on Colorado “16” is complete, it will be made available to all. Regarding change or the resignation of the newly appointed CFO and COO would be announced accordingly. I might be dumb but I’m not stupid. It seems to me that Gary, Ken , Tinman and Thomas have telekinesis because they all wrote the same thing.😂

        Reply

      • Avatar
        Carol

        June 25, 2019 at 3:57 pm

        My husband and I have 100k shares of what I believe to be bogus stock. First Doyan, now Covalent. Geoff Thompson sounds like a snake oil salesmen. I’m looking to find out once and for all if we lost all that money?? Looking to find out how I report these people if they are crooks? Can you help me?

        Reply

        • Debra Borchardt
          Debra Borchardt

          June 26, 2019 at 9:35 am

          There’s nothing we can do except report what we learn. I would expect that some law office will probably try to set up a class action, but I haven’t seen that yet. That doesn’t mean there isn’t one out there, I just can’t recall seeing it.

          Reply

        • Avatar
          jgarrett39@yahoo.com

          August 3, 2019 at 6:38 pm

          Carol: Sorry to say that you are likely to be in a long line of people trying to get their money back from those companies. I have a copy of a complaint in a lawsuit filed about five years ago against a related group of companies. It has some useful perspective and information it.
          If you’d like to see it, you can mail me at jgarrett39@yahoo.com and I’ll send it to you.

          Reply

    • Avatar
      Chris

      May 3, 2019 at 11:41 am

      Hi Geoff

      Reply

  • Avatar
    Aaron

    May 21, 2019 at 7:46 pm

    I also bought into doyen elements a few years ago and never received any communications.i called and recieved the same answers when they did answer of coarse, “We moved or were in the process, be patient”. I spent over $700 on those scammers and it has me very reluctant to ever try it again being it was the first time I have ever invested. Very irritated and Sooo disappointed!

    Reply

  • Avatar
    Stanley

    June 5, 2019 at 12:08 pm

    Oh boy more trouble
    NEWS
    SEC Files Subpoena Enforcement Action Against a Network of Cannabis Businesses for Failure to Produce Documents in Investigation

    Litigation Release No. 24489 / June 4, 2019

    Securities and Exchange Commission v. Covalent Collective, Inc., Civil Action No. 1:19-cv-03721 (N.D. Ill., filed June 4, 2019)

    The Securities and Exchange Commission (“SEC”) announced today that it filed a subpoena enforcement action in the U.S. District Court for the Northern District of Illinois against Covalent Collective, Inc. f/k/a Doyen Elements International, Inc. f/k/a Advantameds Solutions, Inc. (“Doyen”) for failure to produce documents in an investigation.

    The SEC’s application alleges that Doyen, through its founder, Geoffrey Thompson, may have violated the registration provisions of the securities laws by engaging in an unregistered offering of securities, and may also have made misleading representations to investors and potential investors about the operations, acquisitions, and projected stock price of Doyen and related entities.

    As part of its investigation, the staff in the SEC’s Chicago Regional office served Doyen with a document subpoena on October 24, 2018. The SEC’s application alleges that Doyen repeatedly refused to produce any documents in response to the subpoena, notwithstanding multiple efforts by the SEC to secure its compliance.

    The SEC’s application seeks an order from the federal district court compelling Doyen to comply fully with the subpoena. The SEC is continuing its fact-finding investigation and, to date, has not concluded that anyone has violated the securities laws.

    Reply

  • Avatar
    Mark

    June 12, 2019 at 10:53 am

    Stanley. Seemingly yes. How-ever, we have to remember that there was some confusion in regards to the break up of the “Doyen” name. One would have to believe that Covelant Collective f/k/a Doyen International will promptly reply to the SEC and put this to rest. Should G.Thompson have dotted his i’s and crossed his t’s a bit more, Perhaps? But as someone posted earlier , there is no book written on this and it is confusing. As far as I’m concerned it is a high risk investment that plays into a buyer beware as mentioned earlier. Maybe the SEC should look into Reach Genetics f/k/a Doyen Elements
    as they seem to be holding a box of rocks.

    Reply

  • Avatar
    Ernest

    June 13, 2019 at 9:28 pm

    I did additional research this geoff Thompson and found out his home in Chicago is in foreclosure and his real estate license has been suspended for failure to pay taxes. Oh god help us!!!!!!!!!

    Reply

    • Avatar
      Thomas

      June 15, 2019 at 11:04 am

      I am also a disgruntled investor, i too have been researching and researching and what i found made my stomach drop.. I found out that Covalent recently failed on all the contracts for the Colorado 16 companies. So everything that Covalent is structured around is gone!! I reached out to the Colorado 16 guys and it is confirmed. 20k down the drain… Geoff T is a scam artist!!

      Reply

      • Avatar
        jgarrett39@yahoo.com

        August 4, 2019 at 6:38 pm

        Thomas: I’m sorry that you got taken in. Back in 2014-15, I was in a similar position. Some internet searching on my part, advice from a lawyer based on a review of the agreement with Advantameds (which she said looked like it was written by a fifth grader), and a copy of a complaint in a pending case. My question: did you do any online research about GT before investing? I did, and found some concerning material about a mortgage operation in Minnesota in 2008. But I so wanted to believe that the opportunity to make easy money was real, that I tried telling myself the mortgage lawsuit wasn’t that big a deal. It took more info than that before I bailed on the deal. The experience leaves me curious as to what form of warning/notification system would have worked to alert other people to these concerns. I’m also curious as to whether people shared the issue that I suffered from – namely that the hysteria of believing that I was going to make a half million of easy money made me want to disregard perfectly valid warnings that I was already aware of.

        Reply

  • Avatar
    TINMAN

    June 14, 2019 at 11:02 am

    NOT HAPPY!! I knew that i should not have invested in this company..i am also a shareholder, unfortunately… i have been doing a lot of research on Doyen, Doyen international, Covalent Collective and Reach Genetics. I called The number on the Covalent website and sat on hold for 20 minutes before someone finally got on the phone, just to Lie directly to my face and told me to contact Reach Genetics ( He couldn’t get me off the phone fast enough) .. I have 20 grand in with this crook, so i finally talked to someone that spoke some truth, my stomach dropped when i learned that Covalent has failed on the contract for Colorado 16( which is everything that Covalent is Structured on, and why i decided to invest in the first place), and that their CFO and COO quit. I felt like i needed to get this information out to fellow shareholders and am completely on board for a class action suit, although i don’t believe there is anything left of any of the investors money. If anyone has anymore information please email me at tinsman.tom@yahoo.com

    Reply

  • Avatar
    Jack

    June 14, 2019 at 1:22 pm

    I am a attorney representing my client who bought advantameds shares and i cant honestly believe the length of bs this guy went through for 4 years. All i know now is the sec is involved and this guy is toast.

    Reply

  • Avatar
    gary

    June 14, 2019 at 4:42 pm

    SINKING SHIP!!!! I am also a disgruntled investor… gave $20,000.00 to this scam artist. I have been researching for weeks trying to find out where my money went to.. And to my dismay, i learned that Covalent Collective has defaulted on the contract for the acquisition of Colorado 16 ( the only real thing that CC had going for them).. If i were Geoff T. i would be fleeing the country!! If anyone knows how to get in touch with the Colorado 16 guys please call me @ 1-646-549-3262

    Reply

  • Avatar
    Luis Dominguez

    June 17, 2019 at 12:43 am

    Does anybody knows anything about this scammers? We lost some money too and wondering if they were put on trail or something? At least to know that they are not scamming people anymore…

    Reply

  • Avatar
    craig

    June 18, 2019 at 2:31 pm

    Did anyone here purchase advantameds or accelera shares from stan or russ at synergistic life services? My mother and i did should i be concerned because i know geoff thompson is involved with this company? Im being told everything is ok. We put our retirement money in those share

    Reply

  • Avatar
    Jack

    June 18, 2019 at 11:00 pm

    Yes you should be. if i were you i would contact your attorney with all the dociments and correspondence you have with the parties involved. I would also call the sec and make an inquiry and forward any information you may have with them.for their review.

    Reply

  • Avatar
    ken

    June 19, 2019 at 11:22 am

    Who has any information the geoffery thompson is involved with synergistic life services in Chicago?

    Reply

  • Avatar
    Frenchy

    June 20, 2019 at 1:22 pm

    Google it apparently he is the ceo and its some kind of retirement planning company. Might explain where he got some investors.

    Reply

  • Avatar
    The Truth

    June 24, 2019 at 9:40 pm

    I have known Geoff from Accelera, Synergistcs, Accelera, AdvantaMeds, Doyen and so many other companies. And here is the real deal, every single dollar he raises from investors goes into his pocket, and this has been the story for so many years. This guy has forged so many financial documents, he enters into these outrageous acquisition agreements that never close because he does not have the funds (this happened with Accelera, with AdvantaMeds, with Doyen, with Synergistic and so many other companies).

    His life scam partner Cynthia Boerum (Cindy Boerum) is his partner in crime. News flash, she has been so dead broke for about seven years, she has been living with her kids and her Mommy. She plays her role so well, she gets people to invest in Geoff, but then she gets crumbs from him because in any Ponzi Scheme, he has to put out money to people to satisfy them and avoid lawsuits and negative press.

    Well, when word got out and they burned to many people, this happens, and guess what, come July 2019, they will be back under a new name looking for new suckers.

    Funny thing is, Cindy is the most cold blooded of them, I bet she ultimately got all the money out of you all, Geoff just sets them up.

    Geoff and Cindy’s ONLY INCOME is your investment dollars, without your money, they have NO INCOME!

    Do not think you will ever see any of your money from them, in their over twenty years of scams, every single investor lost money, not a one made a single penny.

    I could go on for hours…….. the things I know would make you vomit in your mouth. Thankfully the SEC and Federal Law Enforcement has spoken to me, and they were floored with what I gave them, so I would not worry much about their futures in scamming.

    Reply

    • Avatar
      Michael

      July 3, 2019 at 11:41 am

      If this is the case then why has he not been imprisoned? There’s plenty of stuff you can find on the internet about him that paints him in the light you have described but I can’t figure out why he has continued to run apparent scams and he’s still a free man. Something doesn’t add up.

      Can you shed some light on that?

      Reply

      • Debra Borchardt
        Debra Borchardt

        July 3, 2019 at 4:43 pm

        I’m no legal expert, but my guess is that he settles with the SEC for the securities issues. The shareholder lawsuits get settled as well. But yes, it does seem like a repeated behavior that goes unpunished. Maybe the DOJ doesn’t pursue these smaller securities cases?

        Reply

      • Avatar
        The Truth

        July 4, 2019 at 5:20 pm

        Simple answers:

        1. Most of his victims are not internet / Blog posting Davy.

        2. He is a master of “kicking the can down the road”. He will continually drag investors along with new tales of getting their money back, or even making a return. Ask anyone on here what story they are on now.

        3. He changes out characters (new CEO, new Board Members), new acquisitions he pedals, and just drags you along forever with new stories.

        4. When the above fails, he will threaten you, if you write negative things or report him to the authorities, he guarantees you will lose your money, so no one does it.

        He knows the statute of limitations, and just drags you out. You cannot she him, he had no assets, so you just lose more money.

        Why do the Feds do nothing, they are, just these investigations take years, and his house of cards was now only big enough that the collapse was noticeable on their radar.

        Reply

        • Avatar
          Stanley8

          July 5, 2019 at 7:44 pm

          Wow truth you put it all in perspective

          Reply

        • Avatar
          Michael

          July 11, 2019 at 5:57 pm

          Hi Truth and thanks for all your insight. Can you tell me how you’ve been involved with Geoff over the years? You seem to have a long history with him and know a lot of details about his past. Are you also an investor that’s been duped?

          Reply

          • Debra Borchardt
            Debra Borchardt

            July 12, 2019 at 8:37 am

            I have no relationship other than as a journalist who saw something that just didn’t add up. We’ve spoken on the phone during interviews and met once in person also as part of an interview. I don’t invest in companies I cover.

    • Avatar
      Up in Smoke

      November 12, 2019 at 9:18 am

      The Truth,

      Can you provide contacts within the SEC and the Fed agency you spoke with? Clearly Geoff and Bill and their Investor Relations guy RIch Kaiser are continuing. They are still selling pre-IPO shares.

      Thanks

      Reply

  • Avatar
    Jack

    July 5, 2019 at 7:54 pm

    Anyone getting updates from geoff i not

    Reply

    • Avatar
      🤮

      July 8, 2019 at 9:47 am

      The last update was on June 27th. He usually puts them out every 4 to 6 weeks depending on the urgency of the new developments. We need to hear what is going on with Colorado 16. I would also like to hear from the CEO Gregorak.

      Reply

    • Avatar
      The Truth

      July 8, 2019 at 4:09 pm

      According to PACER (online case tracker for Federal Cases), he is set to go on trial here in July.

      Prediction, he settles for an astronomical civil judgment he (and the Feds) know he will never be able to pay, and will be subject to a lifetime ban of being a CEO of a public company or associating with a Financial Services Company, and most importantly not being able to solicit capital from investors.

      Ultimately, he will avoid all of this by finding unwitting puppet that will do his dirty work in the future, so nothing really changes but the names and faces.

      You know a settlement will be the case as he is in active foreclose on his home, that thing is gone regardless, so why even try to save it. His judgment will not be able to be relieved by a bankruptcy due to its got elements of fraud.

      He will simply slither to a rental until he can Doop a few more people out of their life savings and sail off to some remote island somewhere.

      No way he goes to a Federal Trial, he would get caught lying and suffer perjury, and spend time in jail, plus the civil penalty would be insane.

      Any updates you get from Geoff at this point will never lead to any return on your money, let alone a dividend or profit share. You have a better chance of recovering your money playing the PowerBall than getting it from Geoff or any company he is associated with.

      Also, how Cindy Boerum continues to get away unscathed is beyond me. I am sure it was ultimately Cindy who roped most of you in at the end of the day. You should subscribe to PACER or Law360 and follow his case.

      Reply

  • Avatar
    The Truth

    July 9, 2019 at 12:41 am

    HEAR FROM BILL GREGORAk!?

    Did you take the time to search this guy’s background other than the bio they Fed you?

    Hmmmmm, his publicly traded company CyberEnergy Holdings, well that is in private litigation with the SEC (link: https://www.sec.gov/litigation/admin/2018/34-84249.pdf) and is dead broke, even the website is gone.

    Every company he has started / controlled is defunct, and if he was a successful businessman, why is he soliciting funds from you (successful businessmen who have performed for investors do not need to raise capital).

    I know you want to believe your money is not lost, but hello….. they have no income, no operating capital, the Feds are suing all of them, how can you really think you are going to get your money back? The Colorado 16….. yeah, it will close after these clowns raise the millions required to close, which will NEVER HAPPEN! Even if they go public, they still do not have investors to buy the shares.

    Reply

    • Avatar
      🤮

      July 9, 2019 at 11:15 am

      😩 ouch! Thanks ‘Truth’.

      Reply

    • Avatar
      Anita

      July 23, 2019 at 10:40 am

      Im praying. That was money to buy a home

      Reply

  • Avatar
    Fredm

    July 20, 2019 at 10:54 am

    What are the details on why the Colorado 16 hasn’t closed? They don’t have the money? What assets do the have in possession/operation? Did they ever plan to close the Colorado 16 or was it just a plan to use to raise money that they extracted from the company for salaries or personal use? Does this group plan to run the company after going public or is a stock sale and exit kinda thing?

    Reply

    • Avatar
      THE TRUTH

      July 22, 2019 at 11:09 am

      Thompson, under the Accelera Company, the AdvantaMeds Company, and the Doyen Series of Companies does the exact same thing.

      1. Form a Company that’s sole purpose is to acquire assets
      2. Engage the CEO’s of the Companies and enter into various forms of acquisition agreements.
      3. Raise Capital from Investors for the acquisitions.

      The rub here is, he and his partners are always broke, so every dime they make goes into their pockets because other than your investment monies, the HAVE NO INCOME!

      The only money that he makes is your investment dollars.

      FREDM, you should call the CEO’s of the companies allegedly being acquired by Thompson, I bet their stories of the Geoff Runaround are side splitting.

      You need not even ask if they “have the money”, they are probably looking for new investors, and unfortunately those funds will simply go into their pockets. If these guys were for real, they would have established an escrow account for the deposit of investor funds, and those funds should not have been released until the close of an acquisition, you all should have asked for this, and if the acquisition did not close, then you get all of your money back. This is how the “real world operates”.

      What assets do they have, well, if a MULTIPLE LAWSUITS from the FEDERAL GOVERNMENT are worth anything, they are well off. Short of that, they do not have a penny I can assure you.

      And yes, short of the escrow I described in the above, you need to know 100% that the sole purpose of your money was for their personal living expenses, which I can assure you are not meager.

      GO PUBLIC, get real! Even if they achieved an OTC Market listing, who is going to buy the shares? Do not get snowed thinking that if they go public, there will be a market for the shares. They have no assets, no balance sheet, and a pile of civil lawsuits….. who is investing in that!

      The only exit is unfortunately the one where investors lose all of their money.

      Reply

  • Avatar
    The Truth

    July 20, 2019 at 2:51 pm

    Another good read on Geoff Thompson.

    So far, mortgage Fraud, multiple.SEC lawsuits, and here is his banishment from trading futures.

    Any investor who ever made any investments with a company of Geoff’s should contact the SEC and FBI, without him disclosing to you all of his civil judgments, he intentionally defrauded you through misrepresentation.

    His Futures Trading banishment lawsuit:
    https://www.cftc.gov/sites/default/files/files/enf/02orders/enfthompson-consentorder.pdf

    Reply

  • Avatar
    Truth

    July 23, 2019 at 11:17 am

    Dear truth what is your agenda, why are you so vindictive. I’m a shareholder, and I know you are posting posts and using other people’s names. The truth is all slanted bs , and very slanted using the fake news agenda. Hey truth why dont you post your real name, reason being you are afraid of a liable law suit. When all the deals are done I would be very worried about a slander law suit if I were you I would shut your mouth and whatever your agenda is I would start to tell the real truth.

    Reply

  • Avatar
    Advantameds

    July 23, 2019 at 8:22 pm

    Wow somebodys pissed about the truth

    Reply

  • Avatar
    The Truth

    July 23, 2019 at 8:29 pm

    Tell me one single misrepresentation.

    Has Thompson been sued for millions in investor losses in the State of Minnesota? Answer is “yes”

    Has Thompson been sued and barred from trading Futures in the State of Minnesota? Answer “yes”

    Is Thompson currently facing a Federal Lawsuit for Fraud? Answer is “yes”

    Is Thompson, and a large number of entities he is associated with under current investigation by at least one Federal Government entity? Answer is “yes”

    Did Thompson enter into multiple acquisition agreements with healthcare companies while with Accelera Innovations that never closed? Answer is “yes, many of them”

    Did Thompson enter into multiple acquisition agreements with healthcare companies while with Accelera Innovations that never closed? Answer is “yes, many of them”

    Did Thompson enter into multiple acquisition agreements with companies while with AdvantaMeds that never closed? Answer is “yes, many of them”

    Did Thompson raise millions from investors for those acquisitions that never closed, and the investor funds were totally lost? Answer is “yes”

    Did Thompson enter into multiple acquisition agreements with companies while with Both Doyens that never closed? Answer is “yes, many of them”

    Did Thompson raise millions from investors for those acquisitions that never closed, and the investor funds were totally lost? Answer is “yes”

    Did Thompson pocket large sums of those investor to pay for his home in Chicago, his home in Florida, his cars and meals and other personal expenses? The answer is “yes”

    Has Thompson been sued by many investors, and have multiple complaints against him with various forms of law enforcement and other industry regulators? The answer is “yes”

    Did Thompson disclose any of this to investor? The answer is “NO”

    Why? “To deceive”

    Did Thompson know this a criminal act? Answer is “yes”

    See I name specifics that are factual and can be proven, you give a baseless statement my statements are BS. Please, tell everyone here one statement I am not correct about! Just one!

    How about this, detail one successful venture of yours….. just one.

    As for of “when Colorado closes”, when will that be? How about giving a detailed audit of the use of investor funds, would love to see that (if you have the balls, or the money for one)……I am sure your investors would love to see that.

    Reply

    • Avatar
      Stanley

      July 24, 2019 at 6:33 pm

      Wow all hail the truth

      Reply

  • Avatar
    The Truth

    July 23, 2019 at 8:31 pm

    Sorry, Thompson was sued and barred from futures trading in Illinois, not Minnesota.

    Reply

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    why

    July 24, 2019 at 12:01 am

    Good news i.just heard geoff just rebranded again

    Reply

  • Avatar
    brenda

    July 25, 2019 at 4:40 pm

    Don’t worry! Believe me, my contact who shared this opportunity with me would NOT put me in a situation that wasn’t good! So I have 100% confidence that this is all legit and we will all prosper from it! Just hang in there and don’t believe everything you read just because it’s on the internet

    Reply

    • Avatar
      Phil

      July 27, 2019 at 2:06 pm

      Who was your contact was it david thats who mine was

      Reply

  • Avatar
    John

    July 25, 2019 at 6:37 pm

    I have more.money than the people that posted in here. I recently spoke with him and he called me back and answered on the first call back. If someone was truly scamming why would he not avoid me? I’m nervous but I wouldn’t think he would.be responsive. I will be calling him tomorrow.

    Reply

    • Avatar
      ben

      July 27, 2019 at 2:02 pm

      John i just saw thompson resigned who has our money and who will be doing updates?

      Reply

  • Avatar
    Advantameds

    July 26, 2019 at 10:20 am

    TOXIC THOMPSON IS GONE

    Covalent Collective, Inc. Submits Requested Documents to SEC

    July 26, 2019 8:30 AM
    Covalent Collective, Inc. Cannabis Cultivation
    By 2021, Covalent is projecting to have over one million square feet of cannabis cultivation. Covalent leverages proprietary growing techniques and patented green construction technologies to create state-of-the-art cultivation operations that consistently produce high quality output at amongst the lowest cost per pound.
    COLORADO SPRINGS, Colo., July 26, 2019 (GLOBE NEWSWIRE) — Covalent Collective, Inc. (the “Company”), a burgeoning network of vertically integrated cannabis-centric enterprises, announced today that it has submitted all of the documents in its possession, custody or control that relate to the subpoena issued against the Company by the United States Securities and Exchange Commission (SEC) on October 24, 2018.

    “On July 23 we produced all of the documents we believe were necessary to comply with the SEC’s subpoena,” commented Mr. Bill Gregorak, CEO of Covalent Collective. “While we must hold ourselves accountable for missing the initial deadline, once we fully understood what was required by the SEC, we were able to fulfill our obligations and submit a detailed response ahead of the deadline. Although we won’t know if the SEC is satisfied with the content of our submission until a later date, we believe that the significant volume of correspondence and documentation we produced included everything called for by the subpoena,” Mr. Gregorak continued.

    Separately, the Company announced today that its founder Geoffrey Thompson has resigned from his positions as a director and officer of the Company and its various subsidiaries and agreed to relinquish all associated corporate responsibilities effective

    Reply

  • Avatar
    Joe

    July 26, 2019 at 9:40 pm

    I don’t think Geoff is scamming. I do think he was greedy at times and made some bad choices and took on too much. His prompt communication is the reason this has gone on so long.

    Some have received their investments back. I’ve doubted for years but Geoff continues to surprise. That said, I will be surprised if this venture actually prevails. I did not invest. Good luck everyone.

    Reply

  • Avatar
    Phil

    July 30, 2019 at 10:37 am

    Now we sit and wait for the criminal indictment.

    Reply

    • Avatar
      brenda

      August 1, 2019 at 1:49 pm

      are you the Phil that’s a very close friend of Geoff’s?

      Reply

    • Avatar
      The Truth

      August 1, 2019 at 6:40 pm

      Part of the SEC’s Subpoena is a requirement that the company hand over all financial information. My guess is that the shares sold were done so by individuals who got commissions but are unregistered as broker dealers.

      So, once that is proven, the SEC will come after the company, the man agent of the company, and the unlicensed brokers in a civil action.

      If management hid from investors Geoff’s past infractions, that will be a case for fraud in a civil or criminal court, generally depending on the amount of financial losses, if others worked to help conceal Thompson’s past, and how much was paid to Thompson personally.

      My guess is that the SEC is far into the Accelera investigation, and Thompson’s role in this company is just going to be piling on and part of a criminal referral to the Department of Justice.

      Reply

    • Debra Borchardt
      Debra Borchardt

      August 1, 2019 at 8:20 am

      It looks like two different Geoff Thompsons. The Sundial Thompson is based in Calgary, the Doyen Thompson is in Chicago. They look to be two different people.

      Reply

  • Avatar
    charles whiting

    August 3, 2019 at 4:43 pm

    dear debra
    doyen elements has not been in Chicago for at least two yearssol his homw where he operates and moved to Colorado you shouled update yourself

    Reply

    • Debra Borchardt
      Debra Borchardt

      August 4, 2019 at 1:09 pm

      The point is that there are two different people named Geoff Thompson. One in the US and one in Calgary.

      Reply

  • Avatar
    Curious

    August 16, 2019 at 2:28 pm

    I am curious about whether Geoffrey Thompson and Nancy Thompson own real estate property anywhere in the world. The Truth, do you know? You seem to have a great deal of information about this couple.

    Reply

  • Avatar
    Carol

    September 1, 2019 at 11:47 am

    Now he started a new company hempmetrix. Keeping the ball rolling I suppose. Does the sec know this?

    Reply

    • Debra Borchardt
      Debra Borchardt

      September 2, 2019 at 11:27 am

      How do you know of his connection with Hempmetrix?

      Reply

    • Avatar
      The Truth

      September 6, 2019 at 6:37 pm

      You have to admit, he sticks to the same playbook…. start company with no assets, just a concept (“con”-cept that is).

      Get some people with positive Google returns as the faces.

      “Con” a few investors out of their savings under some false narrative of riches through a “Pre-IPO” offering.

      Pocket the money for personal expenses.

      Leave company with the puppets and investors with nothing.

      Do again.

      Reply

    • Avatar
      jgarrett39@yahoo.com

      September 8, 2019 at 6:43 pm

      I searched but couldn’t find any info linking G. Thompson to Hempmetrix. I couldn’t find any info at all for that matter: dead links etc…

      Reply

      • Debra Borchardt
        Debra Borchardt

        September 9, 2019 at 8:19 am

        Apparently, if you follow him in social media, he posted about the upcoming company.

        Reply

  • Avatar
    John Johnson

    September 11, 2019 at 9:24 pm

    It’s amazing, people invest in a startup promising 28 times your investment dollars and you are worried about that your not receiving your profit quick enough. We get updates once a month and when is the last time the covalent team begged for money on an update call? It has been months. If this was a scam wouldn’t they keep asking for money? Also if this was a scam why even give updates, just admit it didn’t work and company is going bankrupt. Geoff is slick but that is why he is no longer involved. Do you really think Bill Gregorak would ruin his career by being CEO of a company that he doesn’t think will be profitable? Keep in mind, Geoff is the largest shareholder, he is not making money on taking money from investors 2 years ago, he makes money to take a company public. And if you all forgot, Accelera did go public at over $3. Yes it didn’t last but why waste all the time and paperwork to go public if this is a scam. Patience. Just cause a stock isn’t public doesn’t mean the company hasn’t grown in 3 years

    Reply

    • Avatar
      The Truth

      September 17, 2019 at 12:59 am

      John, you cannot even be serious.

      “A startup PROMISING 28 TIMES YOUR INVESTMENT”…… If that was such a sure thing, did even dawn on you that they would not have to solicit money, that anyone and everyone would be throwing money at them. Startups of all kinds are the most risky investments bar none, and investments in those are limited to “accredited investors”, which are people who have a MINIMUM NET WORTH of $1 Million USD (not including equity in a primary home).

      They are not begging you for money because they are just dragging you along so you do not become a “toxic shareholder”. Geoff did this for years with Accelera! They are doing this so you keep quiet while they are out trying to find other suckers to invest. The longer you stay quiet and on their side, the longer they get to suck money from other dummies.

      If you believe for one second that Geoff is not still an active member of the company you are a complete fool. His resignation is nothing more than paperwork to show the PUBLIC he is not involved, while I am quite sure he is very involved.

      And your statement that Geoff is not making money off of monies invested, you are a fool! His wife does not work, he has no other jobs, he is buried in a very nasty civil lawsuit, and I know he is not sitting on any riches, so how exactly is he paying his bills?

      Your statement about Accelera going public for $3 a share is even a larger sign you do not have the foggiest clue what you are talking about. He went public on the OTC Market, not the NASDAQ or NYSE. His public offering was not underwritten, and the offering price was set by the company, and the price had ZERO REPRESENTATION of the value of the assets of the company, its income or anything else. If any firm did a premarket valuation, the company would have went public at $0.00001 per share, because it had not assets, no revenues and was just a shell for an acquisition. The IPO Price was set by the management of Accelera, which was Geoff.

      And your final comment, what paperwork to go public? There is not a single filing for any IPOs. And you can take this statement to the bank, there is not a single investment banking firm that is going to touch any company that is anyway associated with Geoff Thompson, regardless of what resignation papers there are. The fact he is a large shareholder alone will send them running.

      Look John, not trying to be rude to you, but Geoff has spent years pulling the wool over the eyes of people who do not know. He uses something like the “Accelera went public for $3 a share” to get you all comfortable with him, but the statement is misleading and a blatant fraud.

      I know you really want to think your money is not long gone and never going to be recovered, and you probably think that if you keep wishing it true that it becomes reality, but I am the first to tell you that the reality is you have a better chance at getting a return on your dollar playing Powerball than you do of getting a return for this group.

      As for your last statement, just because a company is not public does not mean the company has not grown. If you are talking about Accelera, I can confirm to you that thing is as dead as dead can be. The Titanic has a better chance of surfacing and floating again than Accelera does of being above water. As for Doyen, Covalent or whatever they call it today, since it has not closed on any acquisitions and has no revenues above investor dollars, not sure how you think this is being profitable or increasing in value.

      I am telling you this now, the monthly calls will continue and the continued delays and promises of a bright tomorrow will continue well into next year. But when the months turn to years, and the story stays the same, you will find out how dead on accurate I have been and will continue to be.

      If you want to be smart, at the start of each call, tell them you are recording the call. Watch how fast the scurry like the rats they are. If they have nothing to hide and are not full of BS, they should have absolutely no issues with you recording the call. The CEO’s from all the “real public companies” (not those listed on the OTC Market) always have their quarterly calls to investors recorded and even distributed. There is nothing “secret” about the operations of Doyen / Covalent (or whatever) that would not allow you to record the call (other than maybe the scamming part).

      Again, come back in a few months and tell me know your tomorrow with them looks just like today.

      Reply

  • Avatar
    john

    September 14, 2019 at 12:32 pm

    who is moderator and why can’t I get a response posted?

    Reply

    • Debra Borchardt
      Debra Borchardt

      September 16, 2019 at 7:57 am

      Hi John,
      Sorry for the delay. We were out in California for our Economics of Branding conference.
      Editor

      Reply

  • Avatar
    jake

    September 20, 2019 at 2:59 pm

    Covalent website suspended

    Reply

    • Avatar
      Skatas

      September 21, 2019 at 9:40 am

      Jake, Did you bump your head?

      Reply

    • Avatar
      John

      September 21, 2019 at 6:54 pm

      That is not true

      Reply

  • Avatar
    John S

    September 23, 2019 at 9:23 pm

    Is anyone going to mention the SEC dismissed the case against Covalent on August 15th?

    Reply

    • Debra Borchardt
      Debra Borchardt

      September 24, 2019 at 8:24 am

      the case that was dismissed only referred to the documents the company wasn’t providing. It seems the investigation continues.

      Reply

      • Avatar
        Robert Kozak

        October 2, 2019 at 10:48 am

        According to the official PACER documents if you look up the case number 1:19−cv−03721 it shows as case is dismissed. Unless you are referring to another case number?

        Reply

  • Avatar
    The Truth

    October 2, 2019 at 2:09 pm

    The case in regards to the production of documents was indeed dismissed as it pertains to COVALENT COLLECTIVE ONLY!!!

    The case against Geoff Thompson and all of his related companies (past and current) is still proceeding. These entities include the known companies of:

    Synergistic Life Services
    Accelera Innovations, Inc.
    Accelera Innovations Fund I, Inc.
    AdvantaMeds Solutions USA Fund I, LLC
    Doyen Elements – Geoff’s involvement only
    Covalent Collective – Geoff’s involvement only
    Reach Genetics – Geoff’s involvement only

    There are a few references that they are investigating any subsidiary or any branches (basically name changes) of these companies as they might have had a relation to Thompson.

    I believe the answer you seek is that Covalent Collective is not currently under investigation and is not pending any criminal or civil actions. A search show the COVALENT COLLECTIVE is NOT CURRENTLY subject to a current civil or criminal action.

    The SEC is currently actively engaged in litigation against Thompson on a number of matters, including the sale of unregistered securities. If Thompson is found to have sold or offered for sale any securities of Covalent Collective, it is VERY LIKELY that Covalent Collective will be in the future subject to disciplinary actions by the SEC, including repayment of all received investment funds from investors and a civil penalty.

    Also, if Thompson either settles his lawsuit with the SEC or loses at trial, his equity position in Covalent Collective will be subject to seizure by the United States Government.

    Which would be sort of ironic since the operations of Covalent Collective is illegal at the Federal Level.

    Also, if Thompson is active in the operations of Covalent Collective (shadow management), and Covalent Collective is engaged in the sale of unregistered securities, the Management of Covalent Collective would be liable at both a criminal and civil level if they are not disclosing Thompson’s past civil judgments and sanctions handed down in his commodities trading ban.

    Also, if Thompson sold (or had part of any offerings or sales of securities) any unregistered of Covalent Collective, and Covalent Collective did not disclose to any investor(s) Thompson’s past civil judgments and sanctions from the commodities trading regulators, those investors would have recourse at both a criminal and civil level (fraud & misrepresentation) and if any of the investment funds were used for non-reported purposes (Thompson’s personal expenses, including payment of legal fees for his SEC Lawsuit), the civil and criminal matters could go to Theft by Deception and Larceny.

    So, it is true Covalent Collective is not currently subject to a civil or criminal proceeding, but one can easily make a case that a civil matter is all but certain at this point as I am sure all of you can state that (1) Thompson did engage in the sale of securities for Covalent Collective, (2) that Thompson did not disclose to investors that he has serious outstanding civil judgments and is sanctioned from selling securities that are related to commodities, (3) that the investment funds were not used for the purposes stated.

    Reply

  • Avatar
    Phil

    October 3, 2019 at 12:53 pm

    Good read on his accounting firm helped facilitate fraud with thompson on accelera ipo. Apparently in conjuction with gt they used earnings that did not exist. They are now banned from conducting audit required by sec. Unprofessional conduct: In the Matter of Anton & Chia, LLP, Adm. Proc. File No. 3-18292 (Sept. 20, 2019) is a proceeding which names as Respondents the PCAOB registered audit firm. This matter focused on the audit of four microcap issuers. In conducting those audits the firm failed to properly apply PCAOB standards while missing repeated red flags indicating that the financial statements of the issuers contained material misstatements. The order alleges violations of Exchange Act Sections 10(b) and 13(a). To resolve the matter the firm consented to the entry of a cease and desist order based on the Sections cited. It is also denied the privilege of appearing and practicing before the Commission as an accountant. google case gives good insight the fraud involved in accelera audit all bs from the start

    Reply

  • Avatar
    Steve

    October 3, 2019 at 12:54 pm

    Good read on his accounting firm helped facilitate fraud with thompson on accelera ipo. Apparently in conjuction with gt they used earnings that did not exist. They are now banned from conducting audit required by sec. Unprofessional conduct: In the Matter of Anton & Chia, LLP, Adm. Proc. File No. 3-18292 (Sept. 20, 2019) is a proceeding which names as Respondents the PCAOB registered audit firm. This matter focused on the audit of four microcap issuers. In conducting those audits the firm failed to properly apply PCAOB standards while missing repeated red flags indicating that the financial statements of the issuers contained material misstatements. The order alleges violations of Exchange Act Sections 10(b) and 13(a). To resolve the matter the firm consented to the entry of a cease and desist order based on the Sections cited. It is also denied the privilege of appearing and practicing before the Commission as an accountant. google case gives good insight the fraud involved in accelera audit all bs from the start

    Reply

  • Avatar
    Pete

    October 3, 2019 at 1:01 pm

    Fraud wiith audit regarding accelera ipo audit good read google it major fraud from start. Unprofessional conduct: In the Matter of Anton & Chia, LLP, Adm. Proc. File No. 3-18292 (Sept. 20, 2019) is a proceeding which names as Respondents the PCAOB registered audit firm. This matter focused on the audit of four microcap issuers. In conducting those audits the firm failed to properly apply PCAOB standards while missing repeated red flags indicating that the financial statements of the issuers contained material misstatements. The order alleges violations of Exchange Act Sections 10(b) and 13(a). To resolve the matter the firm consented to the entry of a cease and desist order based on the Sections cited. It is also denied the privilege of appearing and practicing before the Commission as an accountant

    Reply

  • Avatar
    The Truth

    October 4, 2019 at 2:27 pm

    Not to say I told you so, but my September 17th reply to John about the IPO price of Accelera’s Stock was right on target.

    So, not to kick a dead horse here, but any word on how things are coming along at Covalent? I said everyday will look like the day before, and before long the weeks will turn to month, and months to years, and there you will still be waiting on that big return.

    I predict “things are in the mix”, yet no tangible results other than words.

    Reply

  • Avatar
    Tommie

    October 10, 2019 at 8:08 pm

    The truth . How clean is your past? Have you had any dealings with sec?

    Reply

  • Avatar
    Mike

    October 12, 2019 at 10:36 am

    Would anyone mind sharing an opinion on the recent Accelera stock activity? Now rhyme or reason for the stock to run and peak out over 1,000% in one day from what I see. Only thing I find is Gregorak removed Thompson from the Covalent NVSOS officer list.

    Reply

    • Avatar
      Tony

      October 14, 2019 at 9:28 pm

      My guess is it is NOT related to covalent. Covalent is a plant touching company so they cannot go public in USA so using Accelera as a shell does not make sense.

      Reply

    • Debra Borchardt
      Debra Borchardt

      October 14, 2019 at 10:49 pm

      It seems Mr. Thompson sent an audio message to a small group of family and friends saying he was close to reaching a settlement with the SEC, perhaps it’s a coincidence that the stock moved.

      Reply

  • Avatar
    Mike

    October 15, 2019 at 9:13 am

    Thank you.

    It does appear that Gregorak and/or Thompson are telling people, even outside their circle, they’re out of the woods with the SEC and Covalent is moving forward to merge into Accelera along with like 17 dispensary acquisitions.

    On top of that, there’s social media posts claiming they’ve told people the subpoena for information against Covalent was the actual SEC case and it’s now officially closed and the Accelera ticker is a dissolved shell.

    With a little research people would see that the Accelera SEC case is still open with court dates running well into Q1 of next year. Also not to difficult to see that the Covalent SEC case was simply an order that Gregorak stretched out to really test the patience of the court and SEC. It took 14 docket entries, including enforcements and an MIDP just to get Gregorak to hand over papers he already had in his possession.

    Based on these guy’s pasts, I personally don’t think the stock movement was a coincidence. More like these guys are already back to answering phones and filling people’s heads with the lies they’re already infamous for telling. But that’s my opinion. But one fact for certain is there’s millions of shares issued for toxic debt to noteholders who want their money.

    A pump based on the SEC closing the demand for information against Colvalent, a PR with Gregorak twisting it around, along with Covalent’s annual report recently filed with the NVSOS is all it took. Post a few tweets and start answering the phones. Just another day in the office for these guys.

    Personally I think the SEC should suspend these nonreporting pinksheets that are under SEC investigation.

    But maybe I’m off base here. Any thoughts?

    Thank you

    Reply

    • Debra Borchardt
      Debra Borchardt

      October 16, 2019 at 4:08 pm

      The SEC always gives companies lots of time to fix mistakes. In my experience of covering these things, they drag on a long time. It also tends to just ask for financial settlements versus ever pursuing jail time. In this case Thompson has said that part of his proposed settlement would include him being barred from serving as an executive of a public company. That said, he can always work with a company as a “consultant.”

      Reply

  • Avatar
    Brenda

    October 16, 2019 at 12:28 pm

    I just want an END to all this…either it’s a scam or it’s real…we invested all our nest egg 3 plus years ago and the wait is draining us. My husband and myself have had to go back to work (we are 71 and 70)…so much for retirement. This was a first for us to invest in anything. Why can’t it be legit? What better investment could there be in this day and age other than marijuana? It makes sense…I figure they want to get rich too. What about the pepsi plant they bought…isn’t that a grow facility with plans to expand? And the Colorado 16? Aren’t there people working at all these and other places they’ve told us about to make the businesses prosper?

    Reply

    • Avatar
      Gomyola

      October 17, 2019 at 9:55 am

      Brenda, I believe with all good intentions Thompson was carnival barking statements about Covelant Collective that weren’t true. Deception? Perhaps. Seemingly he would put out updates just to appease the investors . After listening to a said update I would step back and think to myself WTF is this guy talking about. Anyway, I hope you we’re able to listen to Bill Gregorak’s introduction albeit 3 months ago. 🤔 How-ever, at least for now he gave me a strong reason to believe he is driven and dedicated to getting this going. Remember the landscape of this New phenom is rapidly changing. We all want to be kept informed but, Gregorak said he will not put out updates until solid milestones are achieved. Try reaching out to Rich Kaiser if you have any questions.

      Reply

  • Avatar
    Up in Smoke

    October 19, 2019 at 6:58 pm

    First, a confession. I really wish I had done my own investment research rather than trust someone else’s on what I now think is going to be a total debacle. My bad judgment.

    I was just about to post something about the Pepsi plant as an example of why no IPO progress and information from Geoff that conflicts with reality regarding my Covalent investment.

    In 2017 there were multiple articles about the Pepsi plant purchase in Pueblo and Geoff’s plan to turn it into a premier “Grow op” that would lease the facility to one or more licensed cannabis growers and provide the tenants with support services, including research and development and consulting. AND NEVER TOUCH THE PLANT. He even talked about introducing robotics. It was expected to produce 70,000 pounds of flower and generate $20 million in revenue starting in 2019.

    In May of 2019 Geoff stated it would produce 2-3 harvests generating $1 million in revenue. The discrepancy from earlier statements and forecasts was never addressed, everything is all good. No mention of leases or who was going to do the growing.

    The reality? I called the Pueblo Regional Building department yesterday and was told no occupancy permit has been issued nor has any electrical or plumbing permit. In other words there is nothing to lease to an experienced grower and ABSOLUTELY NO WAY TO GENERATE A SINGLE DOLLAR let alone the $20 million promised in 2017 or the $1 million promised this May.

    This is just one example of why I think my investment is Up in Smoke.
    By the way, how many of you knew the Colorado 16 were made up of 16 small businesses across real estate, logistics, consulting, financial services, R&D, and green technologies, to help marijuana growers WHO LEASE? That was never provided to me despite asking many , many times about our structure and strategy. Sounds like the CO 16 were supposed to be revenue generating support services to Pueblo which still isn’t occupied let alone ready for occupancy. I found that little explanation in an article on the Pepsi plant.

    I called Rich Kaiser months ago and the call was pretty unhelpful to me. He did tell me Covalent had an annual revenue stream of $74 million but couldn’t provide a single financial document to support that. He also could not provide me a structure or strategy. He also said that we had to get to a projected run rate of $100 million before we could IPO. And the target moves again!

    Reply

    • Avatar
      James

      October 21, 2019 at 2:50 pm

      Up in Smoke: Your post mentions that the Pepsi plant was purchased, but that no permits were issued. Who is supposed to have purchased the plant? Was it Geoff? I ask this in part because I wonder whether checking the ownership this property, and others like it, is one way for people to protect themselves in the future.

      Reply

  • Avatar
    Amused

    October 21, 2019 at 2:18 pm

    Covalent absolutely DOES NOT have a $74 Million Revenue Stream. Covalent has never closed on a single acquisition, how can it have a $74 Million USD Revenue Stream?

    The Pepsi plant!!>>>>>>>> Please, do a simple real estate property search, the last sale of this property was TRICORE, LLC to AVACASS, LLC for $2.5M USD in February of 2015.

    The news articles with Geoff at the Plant stated that Doyen was to purchase the property from Avacass, a transaction that HAS NEVER CLOSED!!

    Covalent has not acquired a single asset, the only acquisitions are a bunch of agreements to purchase assets that they do not have the cash capital to purchase, and the acquisition of your investment dollars to support their lifestyles.

    If there is any confusion about this Pepsi plant never being acquired by Covalent, one should reach out to Mr. David Sanders in Colorado Springs (the owner of Avacass, LLC) to find out what is going on with Covalent’s purchase of this plant. He is easy to find as he is an agent with Re/Max and a top producer in the Colorado Springs Market. From what I have heard, he is none to shy to talk about this situation.

    And why is Geoff calling Investors of Covalent, I thought (though I never believed) that he has resigned and left the management of the company.

    Finally, of course they have not documents to support that they have millions in revenue, because they do not have any income……none, zero, nada…….

    Understand how stupid of a comment that is, they have $74 Million in revenues, but cannot provide a profit & loss, a balance sheet, or any supporting documents……. BUT, they are preparing for an IPO….

    It is so ignorant on so many levels.

    Reply

    • Avatar
      James

      October 21, 2019 at 9:38 pm

      Amused: I’ve seen youtube videos of Geoff walking through what he claims are facilities his companies owned: offices, grow facilities, etc. However, the buildings look abandoned when he’s there, and it’s hard to tell what sort of building it is. One place looked like it could have been the reception area of a health club or the like. – – A smooth operator I guess.

      Reply

      • Avatar
        Reply

        October 22, 2019 at 5:29 pm

        I have never seen these videos, but if they exist and the company did not own the facilities at the time he made the statement, and the statement was made to induce you (or anyone) to make an investment, this would be a foundation for any investor to go after him and the Company (if the company knows he made the statement and has done nothing to correct it) for Fraud.

        Will you get anything more than a potential criminal conviction and a financial judgment you will never collect on, yep……. But more than you are getting now.

        Reply

  • Avatar
    Anonymous

    October 21, 2019 at 8:31 pm

    Amused,

    It might behoove me to make clear that I don’t believe ANYTHING that comes out of Covalent.

    Let’s see, in all of the 2017 articles I found on Geoff purportedly buying the Pepsi plant and projecting $20 million in revenue in 2019 from that plant and only a few months ago quoting a mere $1 million without addressing the gap? Kind of problem, that kind of gap. Then there was the $74 million revenue stream without any documentation. Not that they couldn’t/wouldn’t try to fake those. Then there was the public valuation of just the Colorado 16 group of businesses at $300 million without any data other than Geoff’s words to support that statement. Then there was the HempMatrix deal that popped up out of nowhere a few months ago that is going to be another IPO but that they were supposedly working on for two years? And on, and on and on.

    Unfortunately, I didn’t do my own due diligence and I got burned. Trusted someone who I thought knew better. Fortunately for me having $10,000 stolen from me won’t hurt much more than my pride but I hate thieves and con artists and I have other places I can more enjoyably piss my money away.

    Reply

  • Avatar
    Russ

    January 2, 2020 at 4:06 pm

    Weed is legal in Illinois now did this jagoff position us to make money. I want to know because I have 25000 invested.

    Reply

  • Avatar
    Up in Smoke

    January 7, 2020 at 5:36 pm

    The SEC’s lawsuit against Geoff for his companies Accelera Innovations and Synergistic Holding is coming to trial soon. Pretty much a mirror of what he did with Doyen aka Covalent. Our money is gone.

    Try calling Rich Kaiser their Investor Relations guy. Will be interesting if nothing else. The last number I had for him was 757-306-6090. He told me Covalent had 74 million dollars in revenue. Uh huh. Regarding the IPO, Geoff stated that we had 85 million in revenue but we needed a projected run rate of 100 million per the investment bank of Del Morgan AND we had a DEEP acquisition pipe line and planned on doing one every 30-60 days and we had taken control of Colorado 16 in December 2018. (stated in June 2019) And Colorado 16 had a public value of 300 million.(stated in April of 2019) The take away was that an IPO was just around the corner. Uh huh. Hoping the SEC files pursues Doylen aka Covalent too.

    Reply

    • Avatar
      James

      January 16, 2020 at 9:33 am

      Up In Smoke: You write that the trial relating to Accelera and Synergistic will start soon. How can I follow the progress of this matter?
      The SEC action was announced in 2017, and nothing seems to have happened since then.
      I encountered this issue in 2014, and am struck by the fact GT continues pull new investors five years later. I just don’t know how he gets away with it.

      Reply

      • Avatar
        Up in Smoke

        January 16, 2020 at 1:01 pm

        Hey James,
        I got that information directly from the SEC. I also let them know that Geoff is merrily doing another Covalent, this time called Hempcentric, even while his fraud trial is proceeding. I expressed my frustration that nothing they, or others, are doing seems to be slowing him down a bit and he continues to hurt a lot of people. I stated that there are a lot of us that would like to seem them pursue Covalent and Hempcentrics.

        The trial date isn’t set yet but there is a lot of activity taking place – depositions, experts, legal responses, legal replies that are due Feb 14 and Feb 28. A status hearing is scheduled for Jan 30 and 9:00 am. The case number is Civil Action No. 1:17-cv-7052 in the US District for the Northern District of Illinois Eastern Division. You can’t check the status unless you have an online account and there are fees. The lady I spoke with at the Dirksen building said to just call them, the Help Desk, at 312-582-8727. She provided me all the above when I gave her the case number which I found online somewhere awhile back.

        Reply

        • Avatar
          James

          January 17, 2020 at 1:06 am

          Thanks very much for the contact info. I will try to check in from time to time to get updates.
          I’m interested even though I never invested with him. After becoming concerned by info I found online about him, I had my stock option contract reviewed by an attorney, and she strongly advised me not to participate.
          Hopefully, no more people will report on sites like this one that they invested house money, retirement money, or anything else with Covalent or any other affiliated companies.

          Reply

  • Avatar
    Another losing Investor

    January 15, 2020 at 4:44 pm

    Someone should take a baseball bat to Geoff’s skull and kneecaps

    Reply

  • Avatar
    The Truth

    January 17, 2020 at 5:49 pm

    Not to say I told you so!

    Here is Geoff’s new hustle:
    http://hempcentrics.com/

    Here is proof he is running it:
    https://www.spreaker.com/show/hempcentrics-podcast

    So, like with Accelera, with Synergistic, with AdvantaMeds, with Doyen / Covalent, all you shareholders are left in the dust, all money lost (found and pocketed by him tough).

    Funny part is, looks like Geoff and Cindy Boerum got back together for this hustle. She moved back to the Minneapolis area to live with her Mommy when the scam dough dried up.

    See the registration address for the new hustle, right next to Cindy! How ironic! Check the address:

    https://www.transferonline.com/AboutUs/ClientDetail/Hempcentrics-Inc-

    Again, every single one of my predictions have been 100%.

    Reply

  • Avatar
    Jack

    February 4, 2020 at 10:34 pm

    Wow i lost 25000 just like that

    Reply

  • Avatar
    Up in Smoke

    April 7, 2020 at 4:51 pm

    Here is the settlement agreement issued today against Geoff. Looks like he stole $1.7mm from that venture. Apparently nothing is slowing this guy down because he did the same thing with Covalent, jumped ship leaving his buddy Bill Gregorak in charge and us out our “investments”. Hope this is not the end and they get money from him. Until he ends up in jail he is going to continue to defraud people.

    UNITED STATES OF AMERICA
    Before the
    SECURITIES AND EXCHANGE COMMISSION
    INVESTMENT ADVISERS ACT OF 1940
    Release No. 5474 / April 7, 2020
    ADMINISTRATIVE PROCEEDING
    File No. 3-19744
    In the Matter of
    GEOFFREY J. THOMPSON,
    Respondent.
    ORDER INSTITUTING
    ADMINISTRATIVE PROCEEDINGS
    PURSUANT TO SECTION 203(f) OF THE
    INVESTMENT ADVISERS ACT OF 1940,
    MAKING FINDINGS, AND IMPOSING
    REMEDIAL SANCTIONS
    I.
    The Securities and Exchange Commission (“Commission”) deems it appropriate and in the
    public interest that public administrative proceedings be, and hereby are, instituted pursuant to
    Section 203(f) of the Investment Advisers Act of 1940 (“Advisers Act”) against Geoffrey J.
    Thompson (“Thompson” or “Respondent”).
    II.
    In anticipation of the institution of these proceedings, Respondent has submitted an Offer
    of Settlement (the “Offer”), which the Commission has determined to accept. Solely for the
    purpose of these proceedings and any other proceedings brought by or on behalf of the
    Commission, or to which the Commission is a party, and without admitting or denying the findings
    herein, except as to the Commission’s jurisdiction over him and the subject matter of these
    proceedings, and the findings contained in Paragraph III.2 below, which are admitted, Respondent
    consents to the entry of this Order Instituting Administrative Proceedings Pursuant to Section 203(f)
    of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions
    (“Order”), as set forth below.
    2
    III.
    On the basis of this Order and Respondent’s Offer, the Commission finds that:
    1. Beginning in 2011, Thompson, through the limited liability company which he coowned with his wife, GNNT, LP, owned and controlled Synergistic Group, LLC.
    1
    Synergistic
    Group LLC was a commodity pool operator, commodity trading advisor, and an investment adviser
    that was registered with the State of Illinois. Thompson was the Managing Member and Chief
    Compliance Officer of Synergistic Group, LLC. Through GNNT, LP, Thompson owned at least
    75% of Synergistic Group, LLC. Thompson is 51 years old, and is a resident of Colorado Springs,
    Colorado.
    2. On April 3, 2020, a final judgment was entered by consent against Thompson,
    permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities
    Act of 1933 (“Securities Act”), Section 10(b) of the Securities Exchange Act of 1934 (“Exchange
    Act”) and Rule 10b-5 thereunder, and aiding and abetting violations of Rule 13(a) of the Exchange
    Act, and Rules 13a-1, and 13a-13 thereunder, in the civil action entitled Securities and Exchange
    Commission v. Accelera Innovations, Inc., et al., Civil Action Number 17-cv-7052, in the United
    States District Court for the Northern District of Illinois.
    3. Among other things, the Commission’s complaint in that matter alleged that from
    approximately January 2012 through September 2014, Thompson, acting through Synergistic
    Holdings, LLC and Accelera Innovations, Inc., sold at least 849,886 shares of Accelera common
    stock to 69 investors for a total of $1,700,301. The complaint further alleged that there was no
    registration statement in effect for the sales of the shares, and that the sales were not exempt from
    the registration requirements.
    4. The complaint further alleged that $1.3 million of the $1.7 million in proceeds from
    the sale of Accelera common stock was deposited into an account controlled by Synergistic Group,
    LLC.
    IV.
    In view of the foregoing, the Commission deems it appropriate and in the public interest to
    impose the sanctions agreed to in Respondent Thompson’s Offer.
    Accordingly, it is hereby ORDERED pursuant to Section 203(f) of the Advisers Act, that
    Respondent Thompson be, and hereby is, barred from association with any broker, dealer,
    investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally
    recognized statistical rating organization with the right to apply for reentry after five (5) years to
    the appropriate self-regulatory organization, or, if there is none, to the Commission; and

    1 Synergistic Group LLC, for a period of time in 2013, did business as Synergistic FX Management LLC. Both
    companies are referred to herein as Synergistic Group LLC.
    3
    Any reapplication for association by the Respondent will be subject to the applicable laws
    and regulations governing the reentry process, and reentry may be conditioned upon a number of
    factors, including, but not limited to, the satisfaction of any or all of the following: (a) any
    disgorgement or civil penalties ordered by a Court against the Respondent in any action brought by
    the Commission; (b) any disgorgement amounts ordered against the Respondent for which the
    Commission waived payment; (c) any arbitration award related to the conduct that served as the
    basis for the Commission order; (d) any self-regulatory organization arbitration award to a
    customer, whether or not related to the conduct that served as the basis for the Commission order;
    and (e) any restitution order by a self-regulatory organization, whether or not related to the conduct
    that served as the basis for the Commission order.
    By the Commission.
    Vanessa A. Countryman
    Secretary

    Reply

  • Avatar
    Up In Smoke

    April 8, 2020 at 10:42 am

    Here is the final judgment against Geoff and his scam companies Synergistic and Accelera. For those of you who don’t want to read the whole thing Geoff got hit with a disgorgement penalty of $424,000 and an additional $100,00 penalty and not supposed to do penny stocks, etc. Despite all this Geoff continues to move forward with Hempcentric and his buddy Bill Gregorak with Covalent. If anybody knows anything about Hempcentric’s or Covalent’s activities, please let me know.

    UNITED STATES DISTRICT COURT
    FOR THE NORTHERN DISTRICT OF ILLINOIS
    EASTERN DIVISION
    )
    UNITED STATES SECURITIES AND )
    EXCHANGE COMMISSION, )
    )
    Plaintiff, )
    )
    v. ) Civil Action No. 1:17- cv-7052
    )
    ACCELERA INNOVATIONS, INC., ) Hon. Virginia M. Kendall
    SYNERGISTIC HOLDINGS, LLC, and )
    GEOFFREY J. THOMPSON, )
    )
    Defendants. )
    FINAL JUDGMENT AS TO DEFENDANT GEOFFREY J. THOMPSON
    The Securities and Exchange Commission, having filed a Complaint , and Defendant
    Geoffrey J. Thompson (“Defendant”) , having entered an appearance; consented to the Court’s
    jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final
    Judgment without admitting or denying the allegations of the Complaint (except as to
    jurisdiction and except as otherwis e provided herein in paragraph X I); waived findings of fact
    and conclusions of law; and waived any right to appeal from this Final Judgm ent:
    I.
    IT IS HEREBY ORDERED, ADJUDGED, AND DECR EED that Defendant is
    permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the
    Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b- 5
    promulgated thereunder [17 C.F.R. § 240.10b- 5], by using any means or instrumentality of
    interstate commerce, or of the mails, or of any facility of any national securities exchange, in
    connection with the purchase or sale of any security:
    1

    Case: 1:17-cv-07052 Document #: 50 Filed: 04/03/20 Page 2 of 9 PageID #:209(a) to employ a ny device, scheme, or artifice to defraud;
    (b) to make any untrue statement of a material fact or to omit to state a material fact
    necessary in order to make the statements made, in the light of the circumstances
    under which they were made, not misleading; or
    (c) to engage in any act, practice, or course of business which operates or would
    operate as a fraud or deceit upon any person.
    IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
    Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who
    receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant ’s
    officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
    participation with Def endant or with anyone described in (a).
    II.
    IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant
    is permanently restrained and enjoined from violating Section 17(a) of the Securities Act of 1933
    (the “Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of any security by the use of any
    means or instruments of transportation or communication in interstate commerce or by use of the
    mails, directly or indirectly:
    (a) to employ any device, scheme, or artifice to defraud;
    (b) to obtain mone y or property by means of any untrue statement of a material fact
    or any omission of a material fact necessary in order to make the statements
    made, in light of the circumstances under which they were made, not misleading;
    or
    (c) to engage in any trans action, practice, or course of business which operates or
    2
    Case: 1:17-cv-07052 Document #: 50 Filed: 04/03/20 Page 3 of 9 PageID #:210would operate as a fraud or deceit upon the purchaser.
    IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
    Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also bi nds the following who
    receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s
    officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
    participation with Defendant or with anyo ne described in (a).
    III.
    IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant
    is permanently restrained and enjoined from violating Section s 5(a) and 5(c) of the Securities Act
    [15 U.S.C. § 77e] by, directly or indirectly, in the absence of any applicable exemption:
    (a) Unless a registration statement is in effect as to a security, making use of any
    means or instruments of transportation or communication i n interstate commerce
    or of the mails to sell such security through the use or medium of any prospectus
    or otherwise ; or
    (c) Making use of any means or instruments of transportation or communication in
    interstate commerce or of the mails to offer to sell or offer to buy through the use
    or medium of any prospectus or otherwise any security, unless a registration
    statement has been filed with the Commission as to such security, or while the
    registration statement is the subject of a refusal order or stop ord er or (prior to the
    effective date of the registration statement) any public proceeding or examination
    under Section 8 of the Securities Act [15 U.S.C. § 77h].
    IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
    Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who
    3

    Case: 1:17-cv-07052 Document #: 50 Filed: 04/03/20 Page 4 of 9 PageID #:211receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s
    officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
    participation with Defendant or with anyone described in (a).
    IV.
    IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant
    is permanently restrained and enjoined from aiding and abetting any violation of Section 13(a) of
    the Exchange Act [15 U.S.C. § 78m(a)] or Rules 13a -1 and 13a -13 thereunder [17 C.F.R. §§
    2401.13a -1 and 240.13a -13] by knowingly or recklessly providing substantial assistance to an
    issuer that files with the Commission quarterly or annual reports that contain materially false or
    misleading information or that omit material information necessary to render statements in the
    reports not misleading.
    IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
    Federal Rule of Civil Procedure 65(d)(2), the foregoing pa ragraph also binds the following who
    receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s
    officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
    participation with Defenda nt or with anyone described in (a).
    V.
    IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, pursuant to Section
    21(d)(2) of the Exchange Act [15 U.S.C. § 78u(d)(2)] and Section 20(e) of the Sec urities Act [15
    U.S.C. § 77t(e) ], Defendant is prohibited, for f ive years following the date of ent ry of this Final
    Judgment, from acting as an officer or director of any issuer that has a class of securities
    registered pursuant to Section 12 of the Exchange Act [15 U.S.C. § 78l ] or that is required to file
    reports pur suant to Section 15(d) of the Exchange Act [15 U.S.C. § 78o(d)].
    4
    Case: 1:17-cv-07052 Document #: 50 Filed: 04/03/20 Page 5 of 9 PageID #:212VI.
    IT IS HEREBY FURTHE R ORDERED, ADJUDGED, AND DECREED that Defendant
    is prohibited, for five years following the date of entry of this Final Judgment, from participating
    in an offering of penny stock, including engaging in activities with a broker, dealer, or issuer for
    purposes of issuing, trading, or inducing or attempting to induce the purchase or sale of any
    penny stock. A penny stock is any equity security that has a price of less tha n five dollars,
    except as provided in Rule 3a51- 1 under the Exchange Act [17 C.F.R. § 240.3a51- 1].
    VII.
    IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant
    is, jointly and severally with Defendant Synergistic Holdings , LLC, liable for disgorgement of
    $350,000, representing profits gained as a result of the conduct alleged in the Complaint,
    together with prejudgment interest thereon in the amount of $ 74,849.97, for a total of
    $424,849.97. Defendant shall satisfy this obligat ion by paying $424,849.97 to the Securities and
    Exchange Commission pursuant to the terms of the payment schedule set forth in paragraph IX
    below .
    Defendant may transmit payment electronically to the Commission, which will provide
    detailed ACH transfer/Fed wire instructions upon request. Payment may also be made directly
    from a bank account via Pay.gov through the SEC website at
    http://www.sec.gov/about/offices/ofm.htm . Defendant may also pay by certified check, bank
    cashier’s check, or United States postal money order payable to the Securities and Exchange
    Commission, which shall be delivered or mailed to
    Enterprise Services Center
    Accounts Receivable Branch
    6500 South MacArthur Boulevard
    Oklahoma City, OK 73169
    5

    Case: 1:17-cv-07052 Document #: 50 Filed: 04/03/20 Page 6 of 9 PageID #:213 and shall be accompanied by a letter identifying the case title, civil action number, and name of
    this Court; Geoffrey J. Thompson as a defendant in this action; and specifying that payment is
    made pursuant to this Final Judgment.
    Defendant shall simultaneously transmit photocopies of evidence of payment and case
    identifying information to the Commission’s counsel in this action. By making this payment,
    Defendant relinquishes all legal and equitable right, title, and interest in such funds and no part
    of the funds shall be returned to Defendant.
    The Commission shall hold the funds (collectively, the “Fund”) and may propose a plan
    to distribute the Fund subject to the Court’s approval. The Court shall retain jurisdiction over the
    administration of any distribution of the Fund. If the Commission staff determines that the Fund
    will not be distributed, the Commission shall send the funds paid pursuant to this Final Judgment
    to the United States Treasury.
    The Commission may enforce the Court’s judgment for disgorgement and prejudgment
    interest by moving for civil contempt (and/or through other collection procedures authorized by
    law) at any time after 30 days following entry of this Final Judgment. Defendant shall pay post
    judgment interest on any delinque nt amounts pursuant to 28 U.S.C. § 1961.
    VIII.
    IT IS FURTHER ORDERE D, ADJUDGED, AND DEC REED that Defendant shall pay a
    civil penalty in the amount of $100,000 to the Securities and Exchange Commission pursuant to
    Section 20(d) of the Securities Act, 15 U.S.C. § 77t(d), and Section 21(d)(3) of the
    Exchange Act, 15 U.S.C. § 78u(d)(3) . Defendant shall make this payment pursuant to the terms
    of the payment schedule set forth in paragraph X bel ow .
    Defendant may transmit payment electronically to the Commiss ion, which will provide
    6
    Case: 1:17-cv-07052 Document #: 50 Filed: 04/03/20 Page 7 of 9 PageID #:214detailed ACH transfer/Fedwire instructions upon request. Payment may also be made directly
    from a bank account via Pay.gov through the SEC website at
    http://www.sec.gov/about/offices/ofm.htm . Defendant may also pay by certified check, bank
    cashier’s check, or United States postal money order payable to the Securities and Exchange
    Commission, which shall be delivered or mailed to
    Enterprise Services Center
    Accounts Receivable Branch
    6500 South MacArthur Boulevard
    Oklahoma City, OK 73169
    and shall be accompanied by a letter identifying the case title, civil action number, and name of
    this Court; Geoffrey J. Thompson as a defendant in this action; and specifying that payment is
    made pursuant to this Final Judgment.
    Defendant shall simultaneously transmit photocopies of evidence of payment and case
    identifying information to the Commission’s counsel in this action. By making this payment,
    Defendant relinquishes all legal and equitable right, title, and interest in such funds and no part
    of the funds shall be returned to Defendant. The Commission shall send the funds paid pursuant
    to this Final Judgment to the United States Treasury. D efendant shall pay post -judgment interest
    on any delinquent amounts pursuant to 28 USC § 1961.
    IX.
    IT I S FURTHER ORDERED, A DJUDGED, AND DECREED that, jointly and severally,
    Defendant s Geoffrey J. Thompson and Synergistic Holdings , LLC shall pay the total of
    disgorgement and prejudgment interest due of $ 424,849.97 in 4 installments to the Commission
    accordin g to the following schedule: (1) $100,000 within 30 days of entry of this Final
    Judgment; (2) $108,283.32, within 120 days of entry of this Final Judgment; (3) $108,283,32,
    within 240 days of entry of this Final Judgment; and (4) the remaining $1 08,283.33, within 360
    7

    Case: 1:17-cv-07052 Document #: 50 Filed: 04/03/20 Page 8 of 9 PageID #:215days of entry of this Final Judgment . Payments shall be deemed made on the date they are
    received by the Commission and shall be applied first to post judgment interest, which accrues
    pursuant to 28 U.S.C. § 1961 on any unpaid amount s due after 30 days of the entry of Final
    Judgment. Prior to making the final payment set forth herein, Defendant Geoffrey J. Thompson
    shall contact the staff of the Commission for the amount due for the final payment.
    If any payment due under this Final Judgment is not made by the date agreed and/or
    in the amount agreed according to the schedule set forth above, all outstanding payments under
    this Final Judgment, including post -judgment interest, minus any payments made, shall become
    due and payabl e immediately at the discretion of the staff of the Commission without further
    application to the Court.
    X.
    IT IS FURTHER ORDERE D, ADJUDGED, AND DEC REED that Defendant Geoffrey
    J. Thompson shall pay the total civil penalty of $ 100,000 in 4 installments t o the Commission
    according to the following schedule: (1) $ 25,000, within 30 days of entry of this Final
    Judgment; (2) $25,000, within 120 days of entry of this Final Judgment; (3) $25,000, within 240
    days of entry of this Final Judgment; and (4) the rema ining $ 25,000, within 360 days of entry of
    this Final Judgment . Payments shall be deemed made on the date they are received by the
    Commission and shall be applied first to post judgment interest, which accrues pursuant to 28
    U.S.C. § 1961 on any unpaid am ounts due after 30 days of the entry of Final Judgment. Prior to
    making the final payment set forth herein, Geoffrey J. Thompson shall contact the staff of the
    Commission for the amount due for the final payment.
    If any payment due under this Final Judgm ent is not made by the date agreed and/or in
    the amount agreed according to the schedule set forth above, all outstanding payments under this
    8
    Case: 1:17-cv-07052 Document #: 50 Filed: 04/03/20 Page 9 of 9 PageID #:216Final Judgment, including post- judgment interest, minus any payments made, shall become due
    and payable immediatel y at the discretion of the staff of the Commission without further
    application to the Court.
    XI.
    IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for purposes of
    exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 523, the
    allegations in the complaint are true and admitted by Defendant, and further, any debt for
    disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this
    Final Judgment or any other judgment, order, consent order, decree or settlement agreement
    entered in connection with this proceeding, is a debt for the violation by Def endant of the federal
    securities laws or any regulation or order issued under such laws, as set forth in Section
    523(a)(19) of the Bankruptcy Code, 11 U.S.C. § 523(a)(19).
    XI I.
    IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain
    jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment.
    Dated: April 3, 2020
    ____________________________________
    VIRGINIA M. KENDALL
    UNITED STATES DISTRICT JUDGE

    Reply

    • Avatar
      James

      April 16, 2020 at 11:27 pm

      Thanks so much for posting this. It made my day and week. What would make my month and year would he hearing that a criminal prosecution was forthcoming. I just don’t understand why there hasn’t been a prosecution for fraud. Does anyone know?

      Reply

      • Debra Borchardt
        Debra Borchardt

        April 17, 2020 at 8:12 am

        The sad part of these fraudsters is that the SEC typically just settles and then “bans” them from serving as a director. The way these guys continue is they call themselves a “consultant” to the next company they create to con people out of their money. These deals are usually too small and normally not a publicly-traded stock for the mainstream press to cover. Thus, they can operate in relative obscurity and hit the repeat button. Hopefully, our coverage here at GMR will save some future investors the pain of losing their money.

        Reply

          • Debra Borchardt
            Debra Borchardt

            July 29, 2020 at 9:11 am

            The SEC filing looks to have been abandoned in March 2019.

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