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Thursday, February 19, 2015

SEC Charges New Jersey's Proteonomix, Inc. & CEO With Securities Fraud

February 19, 2015 -- Today the SEC charged Proteonomix, Inc., a New Jersey biotechnology company, and Michael M. Cohen, the CEO, with securities fraud. Both have agreed to settle with the SEC for a monetary amount tba by the court. The complaint covers 2008 through 2012 and alleges that Cohen pocketed more than $600,000 for his own personal benefit resulting from the issuance and transfer of millions of Proteonomix shares to entities named after Cohen's wife, children and father-in-law.  In truth. Cohen directed all accounts and failed to disclose that the transactions were with related parties. To read the original release click here.

I would like to remind investors to always do their own due diligence on any investment, and to consult their own financial adviser or representative when necessary. Any material provided is intended as general information only, and should not be considered or relied upon as a formal investment recommendation.

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