Welcome to the receivership website for The Ticket Reserve, Inc. a/k/a Forward Market Media, Inc. This website was established to provide information regarding the status of the case as well as our efforts to recover assets for the investors' benefit. If you have questions that are not answered by the website, please contact the Receiver's office directly. His contact information can be found on the Contact Information page.
RECEIVER FILES INITIAL REPORT
On June 23, 2016, the Receiver filed his Initial Report with the Court. Copies of the Report may be also obtained on the Court Documents and/or the Investor Communications pages. In the report, the Receiver describes his activities, the initial results of his investigation and a plan for administering the estate. The report, issued 30 days after the start of the receivership, was required by the Court. A copy of the Report may be found on the "Court Documents" and "Investor Communications" pages.
The Ticket Reserve, Inc. Receivership
CONTACTING THE COURT
Please do not call or write the Judge directly. If there is something that you wish to bring to the Judge's attention, you must file a motion with the Court Clerk for the United States District Court, Northern District of Texas, Dallas Division at the following address:
United States District Court Clerk
Northern District of Texas, Dallas Division
1100 Commerce Street
Dallas, TX 75242
Documents filed with the Court must identify the case by its title and cause number: Securities and Exchange Commission v. Ash Narayan, The Ticket Reserve, Inc. a/k/a Forward Market Media, Inc., Richard M. Harmon, and John A. Kaptrosky, Civil Action No. 3:16-cv-01417-M, filed in the United States District Court for the Northern District of Texas.
June 19, 2018
Court Grants Receiver’s Motion to Settle Skelly’s Claims
The Court approved the Receiver’s settlement with Skelly Capital Partners (SCP). Pursuant to the settlement, the Receiver will transfer TTR’s intellectual property, the ShooWin License, the OptionIT settlement and the ShooWin Series A-1 shares to SCP. In exchange, SCP will pay $100,000 to the Receiver ($30,000 at closing, $70,000 by the end of the year) and relinquish all of its claims against the estate. TTR will retain the ShooWin Series A-2 shares. The Receiver and SCP expect to close the transaction this week. You can review a copy of the Court’s order approving the settlement on the Court Documents page.
INVESTOR CONTACT INFORMATION
The Receiver is creating a mailing list of investors, creditors and others who have a stake in the Ticket Reserve or Forward Market Media. If you are an investor or other stakeholder in Ticket Reserve or Forward Market Media and have not received an e-mail from the Receiver, please send your name and contact information (physical address, phone number and e-mail address) to the Receiver at email@example.com.
SEC Settles with Ash Narayan
The SEC has reached a tentative agreement with Ash Narayan to settle its claims against him. Under the proposed agreement, Narayan will pay the SEC $1,498,000, which represents the net amount paid to Narayan by TTR. The SEC has agreed to pay the proceeds of the settlement to the estate. In return, the Receiver has agreed not to seek repayment of the $1,498,000 from Narayan. The settlement must still be approved by Commissioners of the SEC; a process that will take several months.