FOR IMMEDIATE RELEASE 2018-61 Washington D.C., April 6, 2018 — The Securities and Exchange Commission has obtained a court order freezing more than $27 million in trading proceeds from allegedly illegal distributions and sales of restricted shares of Longfin Corp. stock involving the company, its CEO, and three other affiliated individuals. According to a complaint unsealed today in federal court in Manhattan, shortly after Longfin began trading on NASDAQ and announced the acquisition of a purported cryptocurrency business, its stock price rose dramatically and its market capitalization exceeded $3 billion. The SEC alleges that Amro Izzelden “Andy” Altahawi, Dorababu Penumarthi, and Suresh Tammineedi then illegally sold large blocks of their restricted Longfin shares to the public while the stock price was highly elevated. Through their sales, Altahawi, Penumarthi, and Tammineedi collectively reaped more than $27 million in profits. According to the SEC’s complaint, Longfin’s founding CEO and controlling shareholder, Venkata Meenavalli, caused the company to issue more than two million unregistered, restricted shares to Altahawi, who was the corporate secretary and a director of Longfin, and tens of thousands of restricted shares to two other affiliated individuals, Penumarthi and Tammineedi, who were allegedly acting as nominees for Meenavalli. The subsequent sales of those restricted shares violated federal securities laws that restrict trading in unregistered shares distributed to company affiliates. “We acted quickly to prevent more than $27 million in alleged illicit trading profits from being transferred out of the country,” said Robert Cohen, Chief of the SEC Enforcement Division’s Cyber Unit. “Preventing defendants from transferring this money offshore will ensure that these funds remain available as the case continues.” The SEC’s complaint, which was filed under seal on April 4, charges Longfin, Meenavalli, Altahawi, Penumarthi, and Tammineedi with violating Section 5 of the Securities Act of 1933. The complaint seeks injunctive relief, disgorgement of ill-gotten gains, and penalties, among other relief. The SEC’s continuing investigation is being conducted by Ernesto Amparo, Robert Nesbitt, and Adam B. Gottlieb and supervised by Anita B. Bandy and Mr. Cohen. The litigation is being led by Sarah Heaton Concannon and Kevin Lombardi and supervised by Stephan Schlegelmilch and Cheryl Crumpton.

It seemed painfully obvious that this was about to fail. Low volume and tons of overhead resistance made for an ideal short. Too bad I didn't get filled, but I'm fine with being on the right track. The second half of this year will be epic.

Some follow up on yesterday's big runner. Bad r/r today, but there where some plays available.

Nice Squeezer for a Monday!

I had a nice swing play going with small risk. I was set up to take an almost 4:1 r/r, but I got a little greedy and opened too big a position. Cutting losses got me a little frazzled and I closed both positions out.

Today I have funded my account with 25k, not restriction. That doesn't mean i over trade. Today starts a new journey or phase in my trading life. Most important question of the day. Who here is a Professional trader? NO ONE!!! maybe superman, Tim and the others LOL, GOD SPEED! AND GOOOOODDD WINSDAY MORNING!!

A bit of a hasty short. This really looks like it is being propped up over 5.00 I would look for a test of 3.00 within the next month.

Ok short. Bigger size with tighter stops is the ticket when a pump has this much support.

Dip buy of a big squeezer.

Can't forget CANN Such a beauty. I love the failed b/o on lower volume. That day would have been nice for a starter short and then go full size on the 1st red day.