U.S. Securities & Exchange Commission
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U.S. Securities and Exchange Commission

North American Medical Products, Inc.

On March 11, 2003, the SEC filed a Complaint against North American Medical Products, Inc., its president, Arthur Gianakos, and a former director, Niko G. Efstathiou, and others who sold North American stock to the public. The SEC alleged that the defendants, from 1997 through the Fall of 2001, engaged in the fraudulent sale of its unregistered stock through unregistered brokers in boiler-rooms operated in Orange County, California. North American, without admitting or denying the allegations in the Complaint, settled the action and, among other things, disgorged the proceeds of the fraudulent stocks sales remaining in its possession, $120,000.

On May 9, 2005, the Court appointed Richard Weissman as Distribution Agent to take control of the disgorged assets and determine the lawful claims against the defendants based on the violations in the SEC's action. For more information about the SEC's action, you can read Litigation Release No. 18028 (Mar. 11, 2003). The Distribution Agent has sent notices to potential claimants at their last known addresses in the records of the SEC, including a Proof of Claim Form, Notice of the Last Day to File Claims and a Claim Notice letter.  The bar date for the filing of claims (the date when the Proof of Claim forms were to be returned) was May 6, 2006.

On Monday, January 22, 2006, the U.S. District Court for the Central District of California issued an Order approving the Distribution Agent's Final Report, which included his proposed plan of distribution.

If you have any questions, please contact the Distribution Agent, Richard Weissman, at:

5959 Topanga Canyon Boulevard 
Suite 255 
Woodland Hills, CA 91367 
Phone: (818) 226-5434



Modified: 01/25/2007