Two California companies and their sales agent have been ordered to stop offering and selling securities in Colorado.
Colorado Securities commissioner Fred Joseph alleges that Timothy Sides, the sales agent for Energy & Environment Investments and its manager, Energy & Environment, was cold calling Colorado residents seeking investments in Energy & Environment.
Energy & Environment was conducting a $15 million offering of securities at $1.25 a share.
The offering funds would be used primarily to develop and/or acquire so-called “Clean Energy Solution” projects, including “Combined Heat & Power”, which is purported to be a means of extracting multiple sources of energy from a single source of fuel.
The staff of the Colorado Division of Securities claimed that the companies, Sides, and Amir A. Sardari, the president and CEO of the companies, failed to register the securities offering and by offering the investment opportunity to the public through cold calling violated the Colorado Securities Act.
The companies, Sides and Sardari have been ordered to immediately and permanently cease and desist from offering or selling securities in violation of the securities act.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com.
