SEC v. Rapid Therapeutic Science Laboratories, Inc. and Donal R. Schmidt, Jr.

Rapid Therapeutic Science Laboratories, Inc. and Donal R. Schmidt, Jr. allegedly made a series of false and misleading public statements regarding Rapid Therapeutic Science Laboratories, Inc.'s business in connection with their offers and sales of Rapid Therapeutic Science Laboratories, Inc. stock. According to the SEC's complaint, Defendants allegedly falsely claimed that Rapid Therapeutic Science Laboratories, Inc. had obtained an industrywide certification relating to manufacturing and product safety; Rapid Therapeutic Science Laboratories, Inc. had secured major sales contracts; Rapid Therapeutic Science Laboratories, Inc. had a laboratory that met international standards; Rapid Therapeutic Science Laboratories, Inc.’s chief science officer was an engineer who held bachelor’s and doctoral degrees; Rapid Therapeutic Science Laboratories, Inc.’s inhalers were safe and legal; and Rapid Therapeutic Science Laboratories, Inc.’s stock listing application had been approved by Nasdaq.

Summary generated from official Securities and Exchange Commission press release