Litigation Release No. 20032 / March 7, 2007

SEC v. GetAnswers, Inc., et al., Case No. 03-20048-CIV-KING/O'SULLIVAN (S.D. Fla.)

Court Enters Final Judgment Setting Disgorgement and a Civil Penalty Against Defendant James Koenig

The Securities and Exchange Commission announced that on November 30, 2006, the Honorable James Lawrence King, United States District Judge for the Southern District of Florida entered a final judgment setting disgorgement and a civil penalty against Defendant James Koenig. The final judgment ordered Koenig to disgorge $41,538.40, representing the ill-gotten gains he received as a result of his violations of the federal securities laws, prejudgment interest of $9,631.48 and a civil money penalty of $120,000.

Previously on May 1, 2003, Koenig, without admitting or denying the allegations of the Complaint in the case, consented to the entry of an injunction against future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 20(a) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Koenig was also barred from participating in any offering of a penny stock.

For further information, see Litigation Release No. 17933 (January 15, 2003) and Litigation Release Nos. 20014 and 20015 (February 23, 2007)