GABOR S. ACS and PENNY KING HOLDINGS CORPORATION VS. TELYNX., INC

A Federal Grand Jury is Being Requested by the Penny King in a Civil Case Involving More Than $70 Million Theft of Public Interest Assets

On May 15th, 2003 an agreement was reached between Penny King Holdings (PKH) Inc. and the then Board of Directors of Telynx Inc whereby the former took voting control of the latter.

It was an agreement that Gabor Sandor Acs, then President of PKH, would later learn would lead to his personal undoing, his catharsis and eventually his rebirth as the Penny King.

Already involved in a legal battle with the Federal Government over the accuracy and true intent behind some press releases written by Mr. Acs on two deals which went sour with two other publicly traded California companies called Quintek Technologies, and eKnowldge Inc., he discovered eight months after he took over voting control of Telynx through his Free and Clear Foundations of America, Inc. and what eventually became its' wholly owned subsidiary, PKH, that Telynx, Inc. had been hijacked, lock, stock and barrel by four thieves including his now ex wife, Sandra L. Gabor, no relation to the author.

Since he discovered that Telynx, which by then was trading at a penny and a half a share, a 15,000% increase since he took over control indirectly through his corporations, he has been trying to get justice. His stock on the day that the theft and fraud occurred was worth $70 million. It was such a heavy blow to his ego, his family, and to millions of homeless and poor people in America that he literally went insane.

He set out on a journey that would take him by car through 15 states while his wife and children stayed behind in Reno, Nevada in April of 2004 to attempt to recover what he had worked so hard for - a vision of a free and clear society with enough assets and resources behind the organization to implement sweeping global and universal reforms in government, politics and economics.

Gabor S. Acs is a financial genius way ahead of his time", says one person who knew him well. He formed the Free and Clear Foundations of America, his third and last attempt to organize his philosophy into a permanent institution of the modern world.