Welch Subpoena
Welch Subpoena
Welch Subpoena
EXHIBIT B
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July 2 7, 2010
The staff of the Securities and Exchange Commission (the "Commission") is conducting
a formal, non-public investigation in the matter identified above . The enclosed subpoena has
been issued to you as part of this investigation . The subpoena requires you to give us documents
and provide sworn testimony .
Please read the subpoena and this letter carefully . This letter answers some questions you
may have about the subpoena You should also read the enclosed SEC Form 1662 . You must
comply with the subpoena. You may be subject to a fine and/or imprisonment if you do not .
The subpoena requires you to give us the documents described in the attachment to the
subpoena . You must provide these documents by August 11, 2010 . The attachment to the
subpoena defines some terms (such as "document"} before listing what you must provide .
Please note that if copies of a document differ in any way, they are considered separate
documents and you must send each one . For example, if you have two copies of the same letter,
but only one of them has handwritten notes on it, you must send both the clean copy and the one
with notes .
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Anthony K. Welch, President
eHydrogen Solutions, Inc .
July 27, 2010
Page 2
If you prefer, you may send us photocopies of the originals . The Commission cannot
reimburse you for the copying costs . The copies must be identical to the originals, including
even faint marks or print . If you choose to send copies, you must keep the originals in a safe
place. The staff will accept the copies for now, but may require you to produce the originals
later.
If you do send us photocopies, please put an identifying notation on each page of each
document to indicate that it was produced by you, and number the pages of all the documents
submitted . (For example, if Jane Doe sends documents to the staff, she may number the pages
JD-1, JD-2, JD-3, etc., in a blank corner of the documents .) Please make sure the notation and
number do not conceal any writing or marking on the document . If you send us originals, please
do not add any identifying notations .
You should enclose a list briefly describing each item you send . The list should state
which paragraph(s) in the subpoena attachment each item responds to .
Please include a cover letter stating whether you believe you have met your obligations
under the subpoena by searching carefully and thoroughly for everything called for by the
subpoena, and sending it all to us.
The subpoena requires you to send all the materials described in it . If, for any reason --
including a claim of attorney-client privilege -- you do not produce something called for b y the
subpoena, you should submit a list of what you are not producing. The list should describe each
item separately, noting :
• its author(s) ;
• its date;
• its subject matter;
• the name of the person who has the item now, or the last person known to have it;
• the names of everyone who ever had the item or a copy of it, and the names of everyone
who was told the item's contents ; and
• the reason you did not produce the item .
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Anthony K . Welch, President
eHydrogen Solutions, Inc .
July 27, 2010
Page 3
Testifying
The subpoena requires you to come to the Commiss ion's offices at 3475 Lenox Road,
N .E., Suite 500, Atlanta, GA 30326 on August 11, 2010 at 9:00 a.m., to testify under oath in
the 'matter identified on the subpoena .
Yes . You have the right to consult with and be represented by your own lawyer in this
matter . We cannot give you legal advice .
The enclosed SEC Form 1662 includes a List of Routine Uses of information provided to
the Commission . This form has other important information for you . Please read it carefully .
Has the Commission determined that anyone has done anything wrong?
Please note that, in any matter in which enforcement action is ultimately deemed to be
warranted, the Division of Enforcement will not recommend any settlement to the Commission
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Anthony K . Welch, President
eHydrogen Solutions, Inc.
July 27, 2010
Page 4
unless the party wishing to settle certifies, under penalty of perjury, that all documents responsive
to Commission subpoenas and formal and informal document requests in this matter have been
produced .
I have read this letter, the subpoena, and the SEC Form 1662, but I still have questions . What
should I do?
If you have any other questions, please call me at (404) 842-7639 . If you are represented
by a lawyer, you should have your lawyer contact me.
Penny J. Morgan
Senior Counsel
SUBPOENA
X YOU MUST PRODUCE everything specified in the Attachment to this subpoena to officers of
the Securities and Exchange Commission, at the place, date and time specified below .
3475 L enox Road, N .E., S uite 500 , Atlanta, GA, 30326, August 11 , 2010 at 9: 00 a.m.
X Y OU MUST TEST IFY before officers of the Securities and Exchange Commission, at the
place, date and time specified below .
3475 Lenox Road, N.E ., Suite 500, A tlanta, GA 3 0326, August 11, 2010 at 9: 00 a.m.
I am an officer of the Securities and Exchange Commission authorized to issue subpoenas in this
matter . The Securities and Exchange Commission has issued a formal order authorizing this
investigation under Section 20(a) of the Securities Act of 1 933 and Section 21(a) of the Securities
Exchange Act of 1934 .
NOT I CE TO W I TNESS : If you cl aim a witness fee or mi leage, submit this subpoena with the c laim voucher.
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This subpoena calls for the production of documents, in accordance with the following
general requirements:
A. DUPLICATES
Unless otherwise specified, each request for documents or other materials calls for the
production of the original and all copies and drafts of the same document . However, if two
documents or other items are exact duplicates, you are required to produce only one of them .
Documents that contain written comments, notes, corrections or to which have been attached or
appended additional material are not to be construed as exact duplicates and, therefore, must be
produced . Similarly, documents that are preceded by facsimile transmission cover sheets or
which contain facsimile confirmations of receipt are not to be construed as exact duplicates .
You are required to submit all subpoenaed items that are in your possession or in your
custody, or under your control . Items under your control or in your custody, but not in your
immediate possession, are required to be obtained and submitted by you .
C. DEFINITIONS
1 . "Document" means ail preserved matter of any kind and however created,
produced, and stored, whether it be manually, mechanically, electronically, or otherwise, in an
original form or a true copy of the same, together with each and every nonconforming version
and copy, in your actual or constructive possession, custody, or control . The term "document"
includes, but is not limited to hard disk, diskette, CD-ROM, DVD or other disc, . microfilm,
microfiche, magnetic tape, videotape, audiotape, film, or any other electronic media, magnetic
media, or laser media;
3 . "And" and "or" mean both connectors collectively . Therefore, you should
interpret each as "and/or" ;
D. RULES OF CONSTRUCTION
1 . the terms "all" and "each" shall be construed as all and each ;
3 . the use of the singular form of any word includes the plural and vice versa.
IL DOCUMENTS TO BE PRODUCED
Produce the following original documents that are in your possession or in your custody,
or under your control, for the period January 1, 201 0, through the date of your response (the
"Relevant Period"), unless a different time period is specified below :
C . Produce all domestic and foreign accounts statements in the name of or for the
benefit of eHydrogen, including bank, brokerage, and credit card account statements, and
produce all checks (front and back), wire transfer confirmations, and other similar documents
evidencing deposits and withdrawals from any such accounts in any individual amount of $500
or more ;
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H. Produce the following documents w ith respect to any actual , propos ed, or
contemplated busines s transactions or securities transactions relating to eHydrogen:
2. All promissory notes, stock warrants, stock certificates (front and back),
checks (front and back), wire transfer confirmations, and other documents relating to any loans or
other financing activities involving eHydrogen ;
6. All executive summaries, business plans, bonus plans, stock option plans,
and other summaries and plans relating to eHydrogen, including documents sufficient to identify
who such documents were delivered to and the dates of such delivery ; and
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J. Produce all documents evidencing, relating to, or pertaining to any public trading
in the securities of eHydrogen by any officers, directors, employees, or shareholders of
eHydrogen, including all documents relating to any blackout periods or other restrictions on
public trading in eHydrogen securities, all account statements and other documents relating to
public trading in such securities, and all forms filed with the Securities and Exchange
Commission in connection with any public trading in the securities of eHydrogen ;
K. Produce all press releases, newsletters, investor and prospect ive investor alerts,
and other promotional documents dissem inated by or on behalf of eHydrogen (the "Investor
Communications"), preferably_in chronological order, including documents supporting the basis
for any factual assertions and projections (including revenue projections, bus iness op erations
projecti ons, and stock price projections) in such Investor Communi cations, and documents
identifying when and to whom such Investor Communications were dissem inated . In furtherance
and not in lim i tation of the foregoing, produce all documents supporting your basis for mak ing
the following assertions in the following Investor Communicat ions purportedly issued by
eHydrogen, and in addition produce such other documents as maybe specified below :
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L. Produce all federal and state tax returns filed by or on behalf of eHydrogen, with
all schedules and related filed materials, for eHydrogen's tax years 2009 through 2010 ;
O . Produce all financial statements (audited, unaudited, and pro forma), balance
sheets, profit-and-loss statements, and auditor's reports of eHydrogen (including each of its
subsidiaries) during the Relevant Period ;
Q. Produce all e-mails sent to or from any officer, director, shareholder, or creditor of
eHydrogen for the period January 1, 201 0, through the present .
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