Genesis Financial, Inc. and Others

On July 6, 2020, the Securities Exchange Commission (SEC) recently released an Order Instituting Administrative Proceedings (Order) against several companies with accusations that they repeatedly defaulted in their periodic filings with the SEC and failed to heed delinquency letters sent to them by the Division of Corporation Finance.

DLD Group, Inc. (DLDG) is a revoked Nevada corporation in Buffalo, New York that operates as a development stage company focusing on exporting U.S. made products through an online shopping service platform to China. The SEC claims that DLDG is delinquent in its periodic reporting, having not filed since it filed a Form 10-Q for the period that ended on June 30, 2015. This filing reported a net loss of $53,889,875 for the prior six months.

Genesis Financial, Inc. (GFNL) is an active Wyoming corporation located in New York, New York. GFNL is a financial services company that purchases seller financed real estate mortgages, deeds of trust, and contracts, and structures non-conforming commercial loans. According to a recent SEC Order, GFNL is delinquent in its periodic reporting, having not filed since its Form 10-K filed for the period that ended December 31, 2018. This filing reported a net loss of $4,793,571 for the prior fiscal year.

Integral Technologies, Inc. (ITKG) is a revoked Nevada corporation located in Marietta, Ohio that researches, develops, and commercializes technologies such as a non-corrosive conductive plastic. ITKG is delinquent in its periodic filings with the last reported Form 10-Q with net losses of $2,603,234 for the prior nine months filed on March 31, 2018.

Players Network, Inc. (PNTV) is an active Nevada corporation and global media and entertainment company, with its primary focus on TV and internet broadcasting about the Las Vegas and gaming lifestyles. The SEC asserts that PNTV’s last periodic filing, a Form 10-Q for the period that ended September 30, 2018, reported a net loss of $5,779,857 for the prior nine months.

ExeLED Holdings, Inc. (ELED) is a forfeited Delaware corporation in Arvada, CO that operates as a holding company. Through its subsidiaries, ELED acquires and develops companies that provide LED light solutions to the architecture and interior design markets. The SEC claims in a recent Order that ELED is delinquent in its periodic filings since it filed a Form 10-Q for the period that ended September 30, 2018, which reported a net loss of $4,763,103 for the prior nine months.

Vape Holdings, Inc. (VAPE) is an active Delaware corporation located in Dover, Delaware that operates a social networking site called PeopleString. VAPE is delinquent in its periodic filings having not filed since its Form 10-K for the period that ended on September 30, 2017. This filing reported a net loss of $2,438,321 for the fiscal year.

Escondido Innovations, Inc. is a delinquent Delaware corporation located in Gilbert, Arizona. Escondido is delinquent in its periodic filings with the SEC, having not a filed periodic report since it filed a Form 10-12G/A on June 12, 2018, which reported a net loss of $3,321,309 for the fiscal year.

The SEC asserts in recent Orders Instituting Administrative Proceedings that these companies failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and/or 13a-13. The Orders requested an investigation into the allegations to determine whether these allegations are true and, if deemed necessary, to instill a sanction on the companies to protect future investors.