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Missouri orders Lenexa firm to stop selling securities

Missouri Commissioner of Securities David Cosgrove has issued a cease and desist order against Krystal Planet Corp. and its executives for allegedly selling unregistered securities and deceiving investors.

The order alleges that Lenexa-based Krystal Planet told investors that it planned to use a referral-based marketing program to build wind turbines. The turbines, however, were never built, and the investors never received their principle or interest, Cosgrove said in a written release Thursday.

Krystal Planet also allegedly never told investors that CEO Troy Helming was prohibited by Kansas regulators in 2002 to sell unregistered securities. The company never registered its securities or the officials who marketed them, Cosgrove's order alleges.

Helming was named in the cease and desist order along with his wife, Alysia Helming. Troy Helming said in an e-mail Thursday that the company planned to release a statement through its attorney on Friday.

Cosgrove said Thursday that Krystal Planet has 30 days to request a hearing.

Krystal Planet claims to be the first company in the world to market clean power through referral-based marketing.

The order alleges that Lenexa-based Krystal Planet told investors that it planned to use a referral-based marketing program to build wind turbines. The turbines, however, were never built, and the investors never received their principle or interest, Cosgrove said in a written release Thursday.
 
Krystal Planet also allegedly never told investors that CEO Troy Helming was prohibited by Kansas regulators in 2002 to sell unregistered securities. The company never registered its securities or the officials who marketed them, Cosgrove's order alleges.
 
Helming was named in the cease and desist order along with his wife, Alysia Helming. Troy Helming said in an e-mail Thursday that the company planned to release a statement through its attorney on Friday.
 
Cosgrove said Thursday that Krystal Planet has 30 days to request a hearing.
 
Krystal Planet claims to be the first company in the world to market clean power through referral-based marketing.


Source: http://kansascity.bizjourna...

DEC 2 2005
http://www.windaction.org/posts/579-missouri-orders-lenexa-firm-to-stop-selling-securities
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