Without admitting or denying the allegations in the complaint, Friedland and Global agreed to disgorge nearly $2.1 million plus prejudgment interest, and Intiva agreed to disgorge $20,000. Friedland also agreed to pay a $2 million penalty. All defendants consented to bars prohibiting them from participating in penny stock offerings.

"Retail investors are entitled to the facts about promoters' relationships with the companies they tout under our securities laws," said Associate Director Melissa Hodgman. "The $2 million penalty assessed against Friedland reflects the SEC's strong commitment to protecting investors' right to fair and accurate disclosure."