Nanobeak Biotech, Inc. – SEC Files Complaint | Recover Investment Losses

Nanobeak Biotech, Inc. – SEC Files Complaint | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC: 

Between at least December 2015 and December 2019 (the “Relevant Period”), Nanobeak and Jeremy Barbera (Barbera), Nanobeak’s former CEO, solicited and sold Nanobeak securities using false and misleading statements. During this period, Nanobeak and Barbera sold securities to at least 37 investors, raising a net total of approximately $3.6 million.

Barbera lied to investors about Nanobeak’s sole business prospect, claiming that Nanobeak, working in conjunction with scientists at the National Aeronautics and Space Administration (“NASA”) and at a nationally recognized research university (“University A”), had developed a sensor device that used a breathalyzer test to detect cancer and drug use. In fact, Nanobeak never developed any such technology.

Barbera also made false and misleading statements to investors about: law enforcement agencies using the sensor device; the work that University A had conducted; the likelihood of a Nanobeak initial public offering (“IPO”); and the use of investor proceeds. While Nanobeak used some investor funds for corporate purposes, between 2016 and 2019, Barbera siphoned off at least $1.6 million, or nearly 45% of the funds raised, for his personal benefit.

In April 2019, Barbera was forced to resign as CEO by Nanobeak’s board of directors. Thereafter, however, Barbera continued to serve as a board member and to be employed by Nanobeak. Barbera then enlisted Smith, a stock promoter, to help him continue to raise funds from investors ostensibly on behalf of Nanobeak. Smith falsely told investors that he was a Nanobeak employee, that all investor funds would only be used to benefit Nanobeak, and that he was not accepting compensation or taking commissions for the sales of stock. In fact, Smith was never a Nanobeak employee, and in 2019, he received at least $173,000 of funds purportedly raised for Nanobeak for his own personal benefit.

Investors in Nanobeak Biotech, Inc. May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested in Nanobeak Biotech, Inc., Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses in Nanobeak Biotech, Inc. and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.





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