Two California companies are no longer allowed to sell securities in Colorado after Colorado Securities Commissioner Fred Joseph issued a final cease-and-desist order against them.
Energy and Environment Investments, it’s manager, Energy and Environment Inc., the president, CEO and manager of both companies, Amir Sandari and their sales agent, all of Costa Mesa, Calif., were all named in the order.
The staff of the Division of Securities alleges that Colorado investors were cold-called by Sides to soliciting investments in the companies, which were conducting a $15 million offering at $1.25 a share. The money was to develop clean energy solution projects, including combined heat and power, which is supposed to be a means of extracting multiple sources of useful energy from a single source of fuel.
The companies failed to register the security offering and, by offering the investment opportunity to the public at large, violated Colorado state law.
“Investors should always be wary of stock offerings promoted through the use of cold calling,” Joseph said. “Contact our offices to verify that securities have been properly registered.”