Colorado Securities Commissioner orders cease of securities solicitations by Florida’s

DENVER (Dec. 10, 2015) – A Florida-based mobile commerce application company allegedly “cold calling” Colorado residents and soliciting sales of company stock in connection with an initial public offering (IPO) was issued a cease and desist order yesterday. and its controller Gerald Parker were ordered to immediately cease and desist all solicitations of unregistered securities within Colorado.

The cease and desist order, signed by Colorado Securities Commissioner Gerald Rome of the Division of Securities, part of the Department of Regulatory Agencies (DORA), comes after investigating a  complaint filed with the Division in October. The complaint noted that a Colorado resident had received multiple unsolicited phone calls from a representative, who attempted to sell investments in what was described as the company’s pre-IPO. The caller requested disclosure information that would typically be included with a pre-IPO solicitation. and Parker failed to disclose a cease and desist consent order out of North Dakota, as well as and an unsatisfied civil judgment arising out of a class action lawsuit. The lawsuit alleging securities fraud was filed in the United States District Court for the District of Nebraska.

Furthermore, the Division discovered that had never registered or filed for an exemption from registration with the Division in order to solicit or sell their offering in Colorado, and Parker, who was represented to be the “proprietor” of the company, has never been licensed to sell or recommend securities in Colorado.

“Cold-call solicitations for securities are something to be extremely wary of, as they so often involve some type of fraudulent activity,” stated Commissioner Rome. “Our complainant was savvy and knew that something was amiss when the requested information that he knew to be required was not provided. Unfortunately, many investors are not aware of the information that should be disclosed in a proposal of this type. Too often, investors will  hand over their money or sensitive information to a person who has no business cold calling them in order to sell stock in connection with a public offering.”

Under the terms of the order, and Parker must immediately cease and desist from offering or selling unregistered securities in violation of the Colorado Securities Act, offering or selling any security in Colorado unless in compliance with the Act, and engaging in any conduct in further violation of the Act.

The Division of Securities can be contacted at (303) 894-2320 or online at



Media Contact:
Jillian Sarmo
Division of Securities
p: 303-894-2878