Oi2Go Media Technologies, Inc. and Anthony Michael Hernandez

The Securities and Exchange Commission today charged a Florida-based media company and its CEO with conducting an unregistered securities offering and defrauding investors about the company's ability to stream content on a functioning media platform, and the CEO with misappropriating over $450,000 of investor funds.

The SEC's complaint alleges that Oi2Go Media Technologies, Inc., and Anthony Michael Hernandez, its CEO, sold securities in a Regulation A Offering despite not qualifying for an exemption from registration and raised approximately $1,317,000 from at least 750 investors. Oi2Go and Hernandez also allegedly made false and misleading claims in TV commercials and in materials posted on a website aimed at prospective investors regarding Oi2Go's current ability to stream media content. The TV commercials allegedly instructed viewers to call a number to invest and the phones were answered by individuals acting as unregistered brokers. The complaint alleges that Oi2Go and Hernandez aided and abetted these individuals and associated entities in acting as unregistered brokers. In addition, the SEC's complaint alleges that Hernandez misappropriated at least $456,000 in investor funds and used those funds to pay personal expenses such as travel, meals and jewelry.

The SEC's complaint, filed in U.S. District Court for the Middle District of Florida, charges Oi2Go and Hernandez with violating the antifraud provisions of the federal securities laws, with conducting an unregistered offering in violation of Sections 5(a) and (c) of the Securities Act of 1933, and with aiding and abetting others who acted as unregistered brokers in violation of Section 15(a) of the Securities Exchange Act of 1934. The Complaint seeks permanent injunctive relief, disgorgement plus prejudgment interest, civil penalties, as well as officer-and-director and penny stock bars against Hernandez.

In a parallel action, the Florida Attorney General's Office of Statewide Prosecution today announced criminal charges against Hernandez.

The SEC's investigation was conducted by Kenneth Byrne, Yitzchok Klug, Desiree Marmita, and Adam S. Grace, and was supervised by Thomas P. Smith, Jr., of the New York Regional Office. The SEC's litigation is being led by Christopher Dunnigan.

The staff acknowledges the assistance of the Florida Attorney General's Office of Statewide Prosecution and the Florida Office of Financial Regulation.