On August 10, 2012, the SEC charged David W. Dube and his investment advisory firm, Peak Wealth Opportunities LLC, with various violations of the federal securities laws in connection with the firm’s service as investment adviser to StockCar Stocks Mutual Fund, Inc. The order initiating administrative and cease-and-desist proceedings against Mr. Dube and Peak Wealth alleged that Mr. Dube and Peak Wealth failed to: (1) provide the fund’s board with information necessary for the board to evaluate the nature, quality and costs of Peak Wealth’s services in connection with the board’s review of the fund’s advisory agreement; (2) file annual amended Forms ADV and make, keep and furnish true, accurate and current books and records for Peak Wealth’s advisory business, including financial statements, bank records, trial balances and income and expense statements; and (3) withdraw its SEC registration as a registered investment adviser following the board’s termination of Peak Wealth’s advisory contract with the fund, which was the firm’s sole client. The SEC’s order stated that, despite repeated requests from the board in March and May 2010, Peak Wealth failed to provide the board with any requested documents for purposes of the board’s review of the advisory agreement. As a result, in June 2010, the board terminated Peak Wealth’s advisory agreement with the fund and voted to liquidate and deregister the fund. The SEC’s order also stated that Peak Wealth failed to produce financial records in response to eight different requests for financial records from SEC examination staff during an examination of Peak Wealth and the fund in 2010. Finally, according to the SEC’s order, Peak Wealth neither filed a Form ADV-W (after it became ineligible for SEC registration following the termination of the advisory agreement with the fund) nor annually amended Form ADV for its fiscal years ended September 30, 2009, 2010 and 2011.