Released on November 3, 2009
The Director of the Saskatchewan Financial Services Commission, Securities Division has issued a Temporary Cease Trade Order against Alena Marie Pastuch, Teamworx Productions Ltd., Idendego Inc., 101114386 Saskatchewan Ltd., and 101115379 Saskatchewan Ltd.
Pastuch, a Regina resident, is the officer and director of Teamworx, and the president and director of Idendego, 101114386 Sk. Ltd., 101115379 Sk. Ltd. These companies all have head offices in Regina.
Idendego Inc. holds itself out to be a technology company, focused on identity verification and security. The company claims to have an engineering facility in Calgary, Alberta and offices in California and the U.K. Idendego was formerly known as Indendego Inc. and also as Strikeback Ltd.
Pastuch has solicited funds from Saskatchewan and Alberta investors for the companies since 2007, has raised approximately $4 million, and she appears to be continuing to solicit investments.
"The temporary order was issued because Pastuch and the companies are not registered to trade in securities in Saskatchewan and have not complied with the exemptions under Saskatchewan Securities laws," Commissions' Enforcement Branch Deputy Director Ed Rodonets said. "The order directs Pastuch and the companies to cease trading in securities, and also removes their right to use exemptions under Saskatchewan securities laws. "We have issued this order to protect investors, and the investigation is still ongoing."
A copy of the Cease Trade Order may be found on-line at www.sfsc.gov.sk.ca under "Enforcement Orders".
-30-
For more information, contact:
Ed Rodonets
Justice and Attorney General
Regina
Phone: 306-787-5850
Email: ed.rodonets@gov.sk.ca