Code Rebel: Who Cares?

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Should we care about what’s happening–again–with Maui-based Code Rebel? You know, the software startup formerly run by Arben Kryeziu (he quit). Also, he’s now known as Arben Kane, just for those trying to keep up, and his LinkedIn profile shows him as living in New York.

But I’m going to offer zero opinion here. Here’s what a quick googling shows for CDRB’s 2016 happenings:

  • January 12, 2016: PBN reports “Code Rebel at risk of review by regulators”
  • March 24, 2016: Code Rebel announced it entered into a definitive Merger Agreement with Aegis Identity Software
  • April 26, 2016: CDRB stock is up 16.29%
  • April 28, 2016: CDRB stock is up 14.96%
  • May 2, 2016: Code Rebel “discloses consulting agreement with SLD Capital Group, issuing 250,000 shares of its stock in lieu of cash compensation”
  • May 6, 2016: PBN reports “SEC suspends trading of Code Rebel shares”
  • May 9, 2016: First of many law firms announces investigation into CDRB claims
  • May 12, 2016: Code Rebel finally “acknowledges that today the Securities and Exchange Commission issued an order of suspension of trading of its securities effective today at 9:30 a.m. EDT through 11:59 p.m. EDT on May 19, 2016. The order stated that this action was taken ‘because of questions regarding the accuracy of statements in its Forms 10-Q for the quarters ended June 30, 2015 and September 30, 2015, and the Form 10-K for the year ending December 31, 2015, concerning the company’s assets and financial condition.‘”
  • May 19, 2016: CDRB stock drops 19.1% as company files for Chapter 7 bankruptcy liquidation, terminates proposed merger with Aegis Identity Software, and all board members and executive officers, including CEO Arben Kryeziu, resign
  • May 23, 2016: Code Rebel begins trading OTC as CDRBQ, opening with a stock price of $0.05
  • May 23, 2016: Another investor in CDRB filed a lawsuit over alleged Securities Laws violations by Code Rebel in connection with certain allegedly false and misleading statements.
  • May 24, 2016: CDRBQ stock jumps 110% today, closing at $0.105

So should anyone care? You decide.