Doyle Scott Elliott, Scott Elliott, Inc., Michael J. Xirinachs, Emerald Asset Advisors LLC, Robert L. Weidenbaum, and CLX & Associates, Inc.

U.S. Securities and Exchange Commission

Litigation Release No. 22094 / September 16, 2011

SEC v. Doyle Scott Elliott, Scott Elliott, Inc., Michael J. Xirinachs, Emerald Asset Advisors LLC, Robert L. Weidenbaum, and CLX & Associates, Inc., Case No. 09-cv-7594-RJH-THK (S.D.N.Y. September 6, 2011)

JUDGMENTS ENTERED AGAINST DEFENDANTS FOR DISTRIBUTING UNREGISTERED SHARES OF UNIVERSAL EXPRESS INC.

The Securities and Exchange Commission announced today that the United States District Court for the Southern District of New York entered summary judgments on September 8, 2011, against defendants Doyle Scott Elliott, Scott Elliott, Inc. (SEI), Robert L. Weidenbaum, and CLX & Associates, Inc (CLX), all of Florida, finding they engaged in an unregistered distribution of billions of shares of Universal Express Inc. (USXP) between February 2004 and June 2007. The judgments enjoined Elliott, SEI, Weidenbaum, and CLX from future violations of the securities registration provisions of Section 5 of the Securities Act of 1933, ordered them to disgorge over $8.6 million in profits plus prejudgment interest and pay third tier penalties equal to their gains, and barred them from participating in penny stock offerings. The court also granted partial summary judgment against the remaining defendants, Michael J. Xirinachs and Emerald Asset Advisors LLC of New York, and set a hearing to resolve the remaining issues for December 6, 2011. The complaint in this case can be reviewed at www.sec.gov. (LR-21197, Sept. 3, 2009)

The Commission previously sued Universal Express, Inc. for violating the securities registration provisions. See SEC v. Universal Express, Inc. et al, 04 Civ-02322 (GEL), (LR-18636 Mar. 24, 2004).