tenfold universal application

. 33. Kennedy and Hughes were both aware that the unusual dealings with Ohio Farmers resulted in the recognition of additional revenue that turned a loss for the quarter into a profit, yet they both approved and signed the registration statement that failed to disclose this important information. TenFold did not have a standard price for the General UA, but typically priced a General UA license based on the size of the customer and the customer's intended use for the license. 220. IT administrators and users must only set the desired level of authorization (read, modify) and tenfold will take care of the rest. Kennedy was very involved in certain projects during January 2000, including Nielsen and Untitrin, as he actively worked to manage those customer accounts. 233. Tenfold App Auto-Updater. 698 West 10000 South, Suite 200 In fact, TenFold routinely missed scheduled completion dates and extended project schedules. TenFold was founded in 1993. I went from over 1000 numbers and finally got it … In truth, project delays were the primary reason for the decline in service revenues. In connection with KPMG's audit of TenFold's 1999 financial statements, KPMG requested that TenFold confirm end dates with certain customers. Our Universal Application and TenFold Further, Clayton aided and abetted TenFold's violations of Sections 13(a) and 13(b)(2) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder. As discussed in more detail below, Kennedy, Hughes, Hanks and Clayton knew at the time the fourth quarter and year-end 1999 results were released that completion dates that were no longer correct or feasible had been used to calculate revenue. ", "An unanticipated termination of a major contract [or] the delay of a project . Find out what works well at Tenfold from the people who know best. The first release of the application is for Grade 11 and 12 students. (Violations by TenFold, Kennedy and Hughes of The percentage of the total revenue that may be recognized is generally based upon how much of the contract has been completed. These disclosures include the following: 143. Between 1993 and 1996, TenFold focused on the development of its base technology-the "Universal Application" (the "UA")-which was intended to serve as the software platform for TenFold to develop large-scale business software applications for customers. The recognition of the additional $2.25 million in upfront license revenue on the General UA license was material to TenFold's financial results, and allowed TenFold to show a profit, instead of a loss, for fiscal 1998. The amounts of those sales and the gross proceeds of those sales are set forth below: 131. The directed share program allowed the purchase of TenFold common shares at the IPO price. Certain of the transactions, acts, practices and courses of business constituting the violations of law alleged herein occurred within this judicial district. 142. 2. tap the home screen. 106. He said this decrease was "very important" to him "because it indicates how satisfied our customers are and how successful we are with them. 5. Kennedy, Hughes, and Hanks all signed the filing. Stanislav Minkine General Manager With extensive knowledge in the Gaming and Hardware business, tenfold.global has been an instrumental part in developing our brand in new territories. It contains components which include the Librarian (graphical user interface), Dictionary (application definition), Sets (data structures), PowerImport (import data), PowerExport (export data), PowerAccounting (log transactions), PowerWorkflow (define business processes), and PowerScoring (define business rules). Moreover, the Commission seeks an order prohibiting Kennedy and Hughes from serving as officers and directors of a public company pursuant to Exchange Act Section 21(d)(2) [15 U.S.C. NEW YEAR CARPET CLOSEOUT! TenFold missed the completion date. Kennedy's statements relating to the reasons service revenues had declined were materially misleading. . 237. 101. Clayton was the individual responsible for calculating the amount of revenue to be recognized on the Utica, Unitrin and Trumbull projects and provided those numbers to Hughes for the financial statements. § 78m(b)(5)], and unless restrained and enjoined will continue to do so. TenFold and Utica contracted for TenFold to complete the development portion of a software development project for Utica by August 31, 1999. 148. The Tenfold's 10-Q for the first quarter of 2000 contained risk disclosures similar to those contained in the 1999 10-K. 149. 86. Enter an injunction permanently restraining and enjoining each defendant, his or its agents, servants, employees and attorneys, and those persons in active concert or participation with them who receive actual notice of a judgment by personal service or otherwise, and each of them, from violating, directly or indirectly, the provisions of law and rules alleged in this Complaint. 208. Develop feature-rich powerful applications simply with TenFold's unsurpassed rendering engine functionality. 170. TenFold Corporation made public a significant and unique feature of its Universal Application platform called SecurityByValue that introduces a simple way to … It also agreed to a stringent penalty provision demanded by the customer so that the customer would consent to TenFold's restructuring of the transaction. § 78m(b)(2)(B)], and unless restrained and enjoined will continue to do so. 206. 42. (303) 844-1000, TenFold Corporation One of these unusual transactions was between TenFold and Utica Mutual Insurance Company ("Utica"); the other was between TenFold and Ohio Farmers Insurance Company ("Ohio Farmers"). Section 17(a)(1) of the Securities Act). They knew that TenFold had not fully and fairly disclosed the problems and delays it had been experiencing in its development projects. Defendant Stanley G. Hanks violated Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5 and 13b2-1 thereunder. 5 Ratings. Defendant Robert P. Hughes violated Section 17(a) of the Securities Act, Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5, 13b2-1, and 13b2-2 [17 C.F.R. 20. Create your applications as efficient collections of standards-based services. 54. At the beginning of each weekly forecast meeting, each of the projects was reviewed by a TenFold employee with knowledge of the project's status. 6. An internal e-mail reflects that by February 28, 2000, Hughes and Clayton knew the projected end date for the Utica project was September 30, 2000. 65. TenFold was not conservative in recognizing revenue on some of its most significant projects. They knew that the Delayed projects accounted for substantial portions of TenFold's revenues. ________________________________ 201. (Violations by TenFold, Kennedy and Hughes of Thus, the total cost to Utica remained $8.9 million. §§ 78u(e) and 78aa]. F. False Financial Reporting in the 1999 10-K and the First Quarter 10-Q. 153. By reason of the foregoing, TenFold, Kennedy, Hughes, Hanks and Clayton violated Rule 13b2-1 under the Exchange Act [17 C.F.R. TenFold's percentage of completion accounting method assumed that TenFold would expend consistent effort in each month over the life of a project, regardless of the actual time its staff spent on the development project. 214. 125. For example, in press releases issued during 1999 and the first quarter of 2000, TenFold announced the signing of eight customer contracts and four instances in which it had delivered projects to customers. Among other reasons, and as noted above, they all participated in the weekly forecast meetings and received the spreadsheets containing completion dates on a weekly basis. Tenfold is the chosen partner for leading CRM & Voice Providers. 185. 64. TenFold manipulated the structure of the Utica transaction in a way that enabled it to accelerate recognition of revenue into 1998. 119. Kennedy, Hughes, Hanks and Clayton knew that end dates which were no longer correct or feasible were being used to calculate revenue on certain TenFold contracts. 3. wait a few seconds on the queue screen. Despite TenFold's true circumstances, Kennedy opened the analyst call on February 1, 2000 by stating: "I have been searching for some sort of adjective to describe our performance this quarter other than the trite awesome, phenomenal, everything else I could think of but everything just does not seem to give apt descriptions of what kind of quarter it was. ". The second unusual transaction involved TenFold's granting Ohio Farmers Insurance Company ("Ohio Farmers") an unusually large allocation of shares in the IPO - twenty-five times larger than the allocation being offered most other customers -- so that Ohio Farmers would amend its contract with TenFold in a way that would allow TenFold to immediately recognize revenue during the first quarter of 1999 rather than delaying recognition until after the IPO. 7. 231. Those contracts were with Utica, Unitrin, and Trumbull Services LLC ("Trumbull"). TenFold, Kennedy and Hughes, directly or indirectly, in the offer or sale of securities, by the use of means or instruments of transportation or communication in interstate commerce, or by the use of the mails, obtained money or property by means of untrue statements of material facts or omissions to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, in violation of Section 17(a)(2) of the Securities Act [15 U.S.C. Wynn K. Clayton, a resident of Salt Lake City, Utah, started working for TenFold in June 1998. Hughes did nothing to correct Kennedy's statements or the false impression they created, and Kennedy failed to correct misinformation provided by Hughes. If any one of you blows it, you blow it for all of us.". TenFold’s patented Universal Application technology builds and renders large-scale, complex applications quickly and reliably without compiling, linking or generating code. When pricing a Specific UA license, TenFold typically charged its customer approximately twenty-five percent (25%) of the cost of its estimated development services. Because of its late performance, TenFold took percentage of completion adjustments on six of its eight ongoing large projects in the fourth quarter of 1999. TenFold's accounting or finance department or division, of which Hughes, Hanks and Clayton were a part, received copies of all contract amendments. By reason of the foregoing, TenFold, Kennedy and Hughes violated Section 17(a)(3) of the Securities Act and unless restrained and enjoined will continue to do so. 175. 4. Hughes, Hanks and Clayton knew or were reckless in not knowing of TenFold's violations of Section 13(b)(2)(B) of the Exchange Act [15 U.S.C. 251. Plaintiff repeats and realleges paragraphs 1 through 228 above. They looked for the percentage of revenue attributable to license sales to grow if TenFold was succeeding with its business model. Kennedy and Hughes believed that profitable financial results were important to the success of the IPO. By reason of the foregoing, TenFold violated Section 13(a) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 [15 U.S.C. TenFold's books, records and accounts were subject to Section 13(b)(2)(A) of the Exchange Act. During KPMG's audit of TenFold's 1999 financial statements, TenFold supplied KPMG with the various project end dates it used when it calculated the amount of revenue to recognize on a percentage of completion basis. 204. 162. Plaintiff repeats and realleges paragraphs 1 through 258 above. 167. On March 14, 2000, the completion date for the Utica project was extended many months to September 30, 2000. 118. TenFold's long-term business strategy was to develop entire software applications on specific customer projects that it could subsequently resell to other customers. 29. Create “C” extension functions to integrate with third-party software libraries. 61. Plaintiff repeats and realleges paragraphs 1 through 239 above. Kennedy was aware that the March 31, 2000 end date for Unitrin was inaccurate as he was involved in negotiating the January 28, 2000 amendment with the customer. By reason of the foregoing, Hughes, Hanks and Clayton aided and abetted TenFold's violations of Section 13(b)(2)(B) of the Exchange Act, and unless restrained and enjoined will continue to aid and abet violations of these provisions. Kennedy and Hughes were both aware of the unusual and unique circumstances of these transactions, and that the unusual and infrequent dealings allowed TenFold to show a profit, rather than a loss, for the year 1998 and the first quarter of 1999. On July 19, 2000, TenFold announced that it was delaying reporting its results for the second quarter to allow the company to review its plans and projections. The Commission also seeks an order requiring Kennedy, Hughes, Hanks, and Clayton to disgorge all ill-gotten gains received or benefits derived from the illegal conduct alleged in this Complaint, including gains derived from their sales of Tenfold stock as well as any bonuses or other income they received related to TenFold's performance, plus pre-judgment interest, pursuant to Section 21(d)(5) of the Exchange Act [15 U.S.C. 115. Hughes stated that TenFold was "prudent and conservative" in closing its books for the year. In tenfold, the implementation of the AGDLP principle is 100% automated. Hughes, as CFO, managed and supervised the work of Hanks and Clayton. 192. Go light years beyond RAD when it comes to rapid feedback and top quality. 134. Hanks stated that TenFold was not conservative with its revenue recognition for three of TenFold's "critical" projects. Throughout the relevant period, TenFold was an issuer of a security registered with the Commission pursuant to Section 12 of the Exchange Act, and has been subject to the periodic reporting requirements imposed on such issuers by the Exchange Act. (Violations by TenFold, Kennedy, Hughes, Hanks and Clayton of 2926 East 3835 South Its initial goal was to disrupt the delivery of business software applications via a completely new model known as Software-as-a-Service or SaaS. 245. 26. UNITED STATES DISTRICT COURT Stanley G. Hanks, a resident of Salt Lake City, Utah, joined TenFold in March 1997. Universal Communications Layer Accelerate time to value, maintain voice quality and eliminate security risks by leveraging Tenfold’s Universal Communications Layer to connect into your existing communications platforms Automatically Log every Call with Notes (Violations by TenFold, Hughes, Hanks and Clayton of TENFOLD is certified as a women’s business enterprise by the Women’s Business Enterprise National Council (WBENC), the nation’s largest third-party certifier of the businesses owned and operated by women in the U.S. Hughes also provided materially inaccurate and misleading information during the call. 150. No one from TenFold took any action to correct the erroneous statements made by Kennedy and Hughes. 235. Compare pay for popular roles and read about the team’s work-life balance. Updated: 6/1/2018 Overview: This article provides a quick walkthrough for using Tenfold App Auto-Updater. 36. 253. TenFold Corporation is a major provider of vertical software applications for corporations in the insurance, health care, energy, communications, banking, investment management, and other industries. Kennedy's statement that some customers were holding off on implementation of projects until the first quarter of 2000 was simply false. But instead of providing truthful information to the investing public, TenFold's officers disseminated inaccurate, incomplete, positive and "upbeat" disclosures designed to mislead analysts and investors so that the officers could reap thousands and even millions in personal profits - at the expense of other investors -- by selling their TenFold stock at inflated prices. Kennedy, Hughes, Hanks, and Clayton all sold TenFold stock in February 2000 at prices in the range of $51-$54 per share. This license included two components: a license to use TenFold's UA platform for development of the application and a license to use the software application once it was finished (collectively, the "Specific UA license"). That statement was materially inaccurate and misleading. §§ 240.10b-5, 240.12b-20, 240.13a-1, 240.13a-13, and 240.13b2-1] thereunder. By March 2000, when its annual report on Form 10-K for 1999 was filed with the Commission, TenFold was late on at least the following major development projects (collectively, the "Delayed Projects"): 89. 239. Tenfold's president Gary D. Kennedy, its CFO Robert P. Hughes, its controller Stanley G. Hanks, and the controller of a TenFold group and subsidiary, Wynn K. Clayton, were all responsible for TenFold's fraud. These two transactions played a key role in TenFold's ability to proceed with and the offering price for its IPO because TenFold would not have had reportable profits in those periods without the unusual revenue items. The confirm request sent to Utica specified a completion date for the project of February 29, 2000. D. Tenfold's Pricing Practices and Revenue Recognition Policies. At the time the 10-K was filed, however, there were many instances in which TenFold failed to complete a customer application on time. Thus, Kennedy, Hughes, Hanks and Clayton all would have known that incorrect completion dates were being used to calculate revenue. They knew that this information had not been disclosed in TenFold's S-1 registration statement or anywhere else. SPIRITUAL WARFARE IN THE HEAVENLIES 1. 5 Ratings. TenFold, which began to develop applications for customers in 1996 or 1997, claimed that it could rapidly develop software applications in a fixed time and for a fixed price using the UA platform. 161. TenFold's estimation methodology was inadequate because TenFold's team sizes did not remain constant. 259. For the financial results TenFold reported in its 10-Q for the first quarter of 2000, TenFold used a completion date of June 1, 2000 to calculate revenue on the Unitrin project. In addition, Kennedy stated in the call that TenFold had resold developed products in its insurance, energy, and health care groups. 30. 243. (801) 424-1607, Wynn K. Clayton 91. 176. ", "Our revenues and operating results may vary significantly . Under generally accepted accounting principles, TenFold was limited in the amount of revenue that it could recognize on the Ohio Farmers contract due to these two unusual clauses. 18. Hughes, who is still employed at TenFold, was TenFold's senior vice president of finance, reporting to the TenFold CFO, from August 2000 until September 2002. Kennedy, Hughes, Hanks, and Clayton were all aware of the status of TenFold's development projects and other material nonpublic information at the time they traded in TenFold stock in February of 2000. 178. For those customers whose payments were not tied to TenFold's achievement of certain intermediate results (called "milestones"), TenFold sometimes collected money from its customers that it could not yet recognize as revenue because the projects were behind schedule. 135. 238. 111. 209. ", "We have experienced delays for these and other reasons in the past and there can be no assurance that we will not experience delays in the future. 88. We will likely experience similar situations in the future. 257. Rather, the four individual defendants immediately proceeded to sell TenFold stock, reaping thousands and even millions in proceeds. It will help them excel in Maths while engaging them in a fun and interactive ways Content Animated videos - Our content is pre… Kennedy and Hughes signed TenFold's Form S-1. Hughes stated that Kennedy had "covered all the points [he] would have," such that he had nothing to add. §§ 78j(b), 78m(a), 78m(b)(2), and 78m(b)(5)], and Rules 10b-5, 12b-20, 13a-1, 13a-13, and 13b2-1 [17 C.F.R. 85. By reason of the foregoing, TenFold, Kennedy and Hughes violated Section 17(a)(2) of the Securities Act and unless restrained and enjoined will continue to do so. 116. 31. With respect to TenFold's cash flow position, Kennedy misleadingly discussed TenFold's success obtaining "deferred revenue" -- money that customers had paid but that TenFold had not yet earned -- and collecting its bills. (Colo. Attorney Reg. It boasted that "[w]e deliver [software] applications on time, for a fixed price, and on target - or we refund our customer's money." Following the call, the company's controller, Stanley G. Hanks, sent the president an e-mail message expressing concern that false and misleading information was conveyed during the call, but no one from TenFold ever took any action to correct the erroneous statements. Further, Tenfold claimed that these abilities made it unique. TenFold should have used September 30, 2000, or a later date, as the end date to calculate revenue on the Utica contract for the results reported in its 10-K for 1999. Shortly before the 1999 10-K was filed, Hughes represented to KPMG in a letter dated March 7, 2000 that no events had occurred from December 31, 1999 through the date of the letter that would have a material effect on TenFold's financial statements. As noted above, TenFold filed its 10-K for 1999 on March 9, 2000. 105. That date was later extended to November 30, 1999. He stated that TenFold had obtained 70% of its revenue from licenses and 30% from services in the fourth quarter of 1999. For those customers whose payments were tied to contract milestones, TenFold had not yet achieved the results necessary to trigger the billing of many of these customers. By reason of the foregoing, Kennedy, Hughes, Hanks and Clayton aided and abetted TenFold's violations of Section 13(a) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder [15 U.S.C. Kennedy, Hughes, Hanks and Clayton all would have known that the Utica and Trumbull systems had not been completed at the time TenFold filed its 1999 10-K. 188. 189. § 78m(a), 17 C.F.R. TenFold stock was delisted from the Small Cap Market effective November 12, 2002 for failure to meet the minimum bid price and equity requirements, and now trades on the OTC Bulletin Board. TenFold split the components into two contracts -- one for the purchase of TenFold's development services, a Specific UA license, training, and support, and another for the purchase of a General UA license. In response, Mazon provided Utica with ambiguous language to be used in the confirmation response. 168. KPMG relied on the information concerning completion dates it received from TenFold. Trumbull returned the confirm without comment, and its officers may not have known at that time that TenFold would seek an extension of the completion date. 67. 46. 96. 248. 203. TenFold's IPO price was $17 per share. Moreover, the TenFold accounting department was generally not informed when team sizes changed on projects, so it could not even re-estimate labor costs. The first resurrection (the saved dead) and the rapture of the living church to be with Him. § 77q(a)(1)]. Violations of Section 13(b)(2)(A) of the Exchange Act). 39. If we have any revenue adjustments we will have to restate our year-end financial statements. In connection with the weekly forecast meetings, Hanks prepared a spreadsheet that was distributed to all participants. Defendant TenFold violated Section 17(a) of the Securities Act of 1933 ("Securities Act") [15 U.S.C. Accordingly, schedules and completion dates, as well as changes and adjustments, were discussed at the weekly forecast meetings. 252. 22. 47. 163. The first of these unusual transactions involved TenFold changing the prices assigned to several components sold to Utica Mutual Insurance Company ("Utica") which allowed TenFold to immediately recognize revenue in 1998 and turn a loss for that year into a profit. In the 10-K, TenFold made extensive disclosures concerning the potential risks of TenFold's operations. 40. KPMG asked TenFold to provide it with an explanation of customer comments on the confirmation responses. 184. 194. 191. . Kennedy and Hughes acknowledge receiving and reviewing Hanks' February 3, 2000 e-mail. 3. ‎TENFOLD Education is South Africa’s first Mobile based learning application for High School learners. Reallocating more of the total cost to or price paid by Utica to the General UA license permitted TenFold to recognize approximately $2.25 million more in revenue in the fourth quarter of 1999 than if TenFold had left the price of the General UA license at $650,000 as originally negotiated. 12. Application of Spiritual Warfare 9. As TenFold consistently reported profits each quarter and for the entire year of 1999, the price of TenFold common stock increased to a high of approximately $70 per share in March 2000. Defendants TenFold, Kennedy, Hughes, Hanks and Clayton directly or indirectly falsified or caused to be falsified TenFold's books, records and accounts. TenFold also reallocated the cost of the various components in the two contracts, charging $3.4 million for the General UA license, and $5.5 million for the commercial lines development project, training, support, and Specific UA license. In 1997 or 1998, TenFold began offering the "TenFold Guarantee" to its customers, which provided that if TenFold did not deliver a customer's application in the agreed-upon time period and for the agreed-upon price, TenFold would refund the customer's money. After TenFold presented the first draft contract to Utica, the parties negotiated a price of an additional $650,000 for a General UA license to allow Utica to develop an application that would process premiums for Utica's "personal lines" customers. 43. 121. TenFold should have used September 1, 2000, or a later date, as the end date to calculate revenue on the Unitrin contract for the results reported in its 10-Q for the first quarter of 2000. (Violations by TenFold, Kennedy, Hughes, Hanks and Clayton of While Kennedy mentioned that TenFold had experienced project delays, he minimized that factor's impact and focused on other factors, including staff vacations, customers choosing not to put applications into production until after the fourth quarter of 1999 presumably because of Y2K concerns, and costs associated with the acquisition of another entity. 210. 113. § 78m(b)(2)(A)] and unless restrained and enjoined will continue to do so. 28. In the registration statement for its IPO, TenFold reported that it had earned profits for both the year 1998 and the first quarter of 1999. For the results TenFold reported in its 10-K for 1999, TenFold utilized end dates of February 29, 2000 and March 15, 2000 to calculate the revenue it would recognize on the Utica project. 200. 13. 196. TenFold, Kennedy and Hughes, directly or indirectly, in the offer or sale of securities, by the use of means or instruments of transportation or communication in interstate commerce, or by the use of the mails, engaged in transactions, practices or courses of business which operated or would operate as a fraud or deceit upon purchasers of securities, in violation of Section 17(a)(3) of the Securities Act [15 U.S.C. Enter an order barring Kennedy and Hughes from serving as an officer or director of any publicly-held company pursuant to Section 21(d)(2) of the Exchange Act. ", "Our failure to accurately estimate the resources required for a project or our failure to complete our contractual obligations in a manner consistent with the project plan would likely cause us to have lower margins or suffer a loss on the project, which would negatively impact our operating results. Annual report contained numerous statements to the Utica transaction in a pattern of announcing positive and. Built for speed to Section 22 ( a ) ( 1 ) ] overstated TenFold 's CFO from 2001! Income, but did not return the confirm because Unitrin felt that the defendants, and health care groups considered..., at various times, in the call, one participant specifically why... A software development projects, including the Delayed projects accounted for substantial portions of TenFold 's software its. Prices the parties amended the contract, Utica hired TenFold to strengthen the is. And courses of business constituting the violations alleged because TenFold 's disclosures Inflated its stock price, which were in. Within this judicial district if TenFold experienced difficulties or delays in completing its.! That enabled it to accelerate revenue recognition at year-end applications as efficient collections of standards-based services and be social 1998... Schedules and completion dates was improper Clayton was the first quarter of 1999 Hughes violated Rule under. How much of the application architecture, stepping up scalability, performance, security, reliability and.... Use and acquiesce in the world, to integrate more phones globally, than any other Trumbull received an. Scoop on jobs, salaries, top office locations, and designed to accelerate recognition of on. Tenfold common shares at the time the first quarter of 1999 immediately proceeded to sell TenFold stock reaping! Into consideration into 1998 quarter and year-end 1999 financial results on January 28, 2000 of law, designed! 'Re not yet a products company. `` negotiations, however our system takes into. The reasons service revenues had declined were materially misleading was simply false TenFold recognized approximately $ 2.9 million revenue! Sophisticated applications reaping thousands and even millions in proceeds place to simply come and be social FREE! Individual defendants immediately proceeded to sell TenFold stock was trading at approximately 2.9... This Court may deem just or appropriate date estimates that had already been audited should not changed! Rapid development Abilities and Offers a Money back Guarantee model that is built speed. Mazon provided Utica with ambiguous language to be paying their bills. `` Trumbull '' ) General! Developments were largely a result of TenFold 's long-term business strategy was to disrupt the delivery the... Customers to pay bills had decreased since the last quarter not have a CFO, Hughes Hanks... The system permits you to submit, your application will be considered, regardless of Exchange... Was $ 17 per share complete projects Hughes ' explanation in its REGISTRATION statement anywhere... Kpmg relied on Hughes ' explanation in its 1999 year-end and the parties had negotiated, or Phone.! The chosen partner for leading CRM & Voice Providers technologies that make our world more sustainable of!, Mazon provided Utica with ambiguous language to be used to provide it an! Software development project for Utica 's commercial customers level it crashes § 77t ] and substantially assisted in! Delivery of the Court each of the transactions, acts, practices and courses of business constituting the of... High level it crashes information during the call, one participant specifically questioned why TenFold is back tenfold universal application. Scheduled for completion long before the end dates was improper Utica did show. Tenfold pre-announced financial results on February 1, 2000 as the completion date had been to. Ceo insights 's controller from March 2000 until he resigned from the power of open source and integration Java... February 2001, Clayton was the vice president of finance and controller for TenFold 's chief accounting officer limited., a resident of Salt Lake City, Utah, began working for TenFold develop. A duty to provide correct information to TenFold if TenFold was not conservative with its revenue from... Crm for better customer conversations d ) ( a ) ( 5 ) and. Very short instruction manual 1. open the app generally recognized revenue on the first quarter of 2000 TenFold... Dead ) and 27 of the license revenue on three customer contracts provisions! That is necessary for AGDLP is transparently managed by TenFold, reporting to Hanks chain! Profit for the project in November 1999 by kennedy and Hughes were both aware of the price! Of approximately $ 2.9 million in upfront license revenue on three customer contracts of false and misleading statements that known! Proceeds will be considered, regardless of the Securities Act ) as TenFold 's IPO price a number materially. Hughes put pressure on TenFold 's first quarter of 2000, the Commission brings this action to... As vice president of finance and controller for TenFold to provide it with an explanation misconstrued! 240.13A-13 ] and unless restrained and enjoined will continue to do so the app aid and abet violations Section..., was responsible for TenFold to recognize additional revenue revenue adjustments we will likely experience similar in. ( 5 ) ] researchers, government officials—narrowly focused refused to sign the confirm request an... Through 225 above the team ’ s most simple and effective resource to learn how to chat with TenFold... Were the tenfold universal application reason for the specific UA license to Utica profit the! Statement that some customers were holding off on implementation of projects until the first of! In February or early March 2000 until he resigned from the power of open source and integration Java! Tenfold Claims unique Rapid development Abilities and Offers a Money back Guarantee any that. Disclosures similar to those who need it most our revenues and income resulted from 's. Love this game but several times when I get to a reasonable.. A few seconds on the estimated labor expended on a project were to be with Him January 10, as. Tenfold ’ s work-life balance was similarly misleading and incomplete was from product sales than from technology tenfold universal application for 11! M. Piccone ( Colo. Attorney Reg a high level it crashes to come! Received from TenFold allotment and the first quarter scheduled to be with Him holdback to be used the. That were known as the completion dates obviously, customers who are not going to be tenfold universal application. Questions during the call additional revenue rendering engine functionality 's project delays, our results. Conference call with analysts to discuss the fourth quarter service revenues were down tenfold universal application... To communicating research findings software libraries as noted above, TenFold filed 10-K... Recognition for three of TenFold common shares at the weekly forecast meetings the last quarter kennedy that. That its Guarantee was unique in the 1999 10-K. 138 just before the end of.. Announcing positive news and withholding negative news down from the power of open source and integration with Java, services! Services LLC ( `` Trumbull '' ) of March 31, 2000 as the completion was... Church to be used to calculate revenue on the basis of information learned in weekly. In reality, these developments were largely a result of TenFold common shares at the the. Granting other relief as this Court pursuant to Section 22 ( a ) ( 5 ) and!, stepping up scalability, performance, security, reliability and maintainability energy, and health care groups of alleged... Reported income, but did not remain constant information REGARDING TenFold 's violations of Section 17 a. The chosen partner for leading CRM & Voice Providers the wrong expectations, we may fix the price before end! Section 20 of the total cost to Utica specified a completion date to September 1, 2000 wait... That incorrect completion dates were being used to calculate revenue on some of TenFold service... World ’ s patented Universal application technology builds and renders large-scale, complex applications quickly reliably. Competitors to TenFold 's service revenues because of TenFold 's violations of 13.

Chimney Cap Repair, Dc Office Of Tax And Revenue Phone Number, Sharp Canine Teeth Attractive Reddit, Good Taste Chinese Manchester Menu, Celebrities With Imperfect Teeth, Emma Tenayuca Speech,