Alki David and Hologram USA Vehemently Deny SEC Allegations and Consider Counterclaims
09/30/2019 | 06:42pm EST
Los Angeles, CA, Sept. 30, 2019 (GLOBE NEWSWIRE) -- Hologram USA and its CEO Alki David announced today that they intend to vigorously fight the Security and Exchange Commission allegations brought by Adam Grace and Yitzock Klug. David and his legal team will show that the allegations are completely false.
“I spent $80 million of my own money to build my company and take it public,” said Alki David of Hologram USA. “I hired the best people and did everything by the book, working closely with NASDAQ. Twice, the SEC has targeted me and blocked my efforts to create 100s of jobs as I advance the hologram industry. And now this. They’ve picked the wrong guy to fish for some settlement with. I’m not going to take it.”
One central claim of the SEC is that Hologram USA claimed it had the rights to the image of Tupac Shakur without having any connection to the artist’s hologram performances. In fact, Uwe Mass, the inventor of the technology that created the famous Tupac at Coachella hologram and key producer of that event, became a founding partner with Hologram USA when Alki David bought the North American rights to his patent in 2014. Hologram USA and Alki David have never claimed to have rights to produce future Hologram Tupac events. This is just one bald lie in the SEC’s complaint.
The SEC compliant misconstrues many details about Hologram USA’s business plan, its hologram theater plans, and its use of the JOBS Act and new Regulation A rules. The complaint also goes on at length about the Whitney Houston hologram, without mentioning that Hologram USA did produce a test Whitney hologram for ABC’s The Voice and was working on world tour plans at the time. The complaint mentions issues that arose during the IPO planning over Roy Orbison’s hologram, but fails to mention that Hologram USA had well known rights agreements for holograms of Liberace, Patsy Cline, Buddy Holly, Tammy Wynette and others.
Hologram USA has produced shows based with the estates or rights holders of Billie Holiday and Jackie Wilson that had a successful run at the flagship Hologram USA Theater on Hollywood Boulevard. Hologram USA has produced and made possible “resurrections” of Latin Music superstars Juan Gabriel and Jenni Rivera, and it’s technology was essential in presenting the Ronald Reagan hologram at his presidential library in Simi Valley.
Hologram USA has also had great success in live telepresence--the beaming of a living person so they can appear in hologram form. The company made global news when it beamed Julian Assange to Nantucket, MA from the Ecuadorian Embassy in London. It beamed Jimmy Kimmel to the CMA Awards in Nashville from Hollywood three years in a row and beamed Kacey Musgrave, the bands Florida Georgia Line and The Band Perry back to Hollywood. Other Hologram USA projects have involved Universal Studios Parks & Resorts, Sony Pictures’ Ghostbusters, Jack Black, rapper Chief Keef and the House of Dior.
In addition the flagship Hologram USA Theater in Hollywood, the company was on track to install hologram equipment in many theaters including the Avalon Regal Theater in Chicago, Foxwoods Casino in Connecticut and the Landmark in Indianapolis. No investor materials claimed that the entire network was already activated.
Alki David and his companies have faced suits from the major television networks without blinking, all of which arrived at favorable outcomes.
“I don’t roll over like that,” Alki David said. “I don’t care what it takes, I will fight for my good name. And I’ll take down anyone who lies about me.”
For more information or to request an interview with Mr. David, contact email@example.com