Exocog Suspends Operations, Moves To Regain Public Trust
June 20, 2013

The Board of Directors of Exocog released the following statement at 10:00 AM, June 20, 2013:

The Exocog Board of Directors met in emergency session on June 19-20, 2013 to address the revelations of unethical and, in some cases, illegal behavior by Exocog executives and employees. These events came as a complete surprise to the Board, and we cannot state the degree of dismay with which we view what has happened to the company. We believe that the only way in which Exocog can regain any of the public's trust is through a full and open disclosure of all information pertaining to this matter. Therefore:

Peter Glenstone, the former CEO and President of Exocog, is currently in Federal custody, pending arraignment on a wide range of charges. During his time as Exocog CEO, we believe that Glenstone instituted a number of private projects under his direct control, in which he sought to make use of Exocog's staff and resources for personal gain. Individuals were treated with various drugs, in clear violation of Exocog medical and experimental regulations, and, in some cases, were physically restrained from leaving the studies in which they were participating. We can react to these ethical and legal breaches only with disgust.

To make matters worse, Glenstone's search for the highest possible profit led him to solicit business with organized crime and undesirable foreign interests, and to offer them access to highly classified government information. Such projects are obviously in violation of Exocog corporate ethics policies, to say nothing of the laws of the United States and other affected countries. We are acting in full cooperation with appropriate governmental authorities to insure that the truth behind Glenstone's actions is uncovered, and that appropriate legal action takes place.

We would like to publicly express our thanks to Dr. Richard Dexforth, chair of Exocog's Scientific Advisory Board. Dr. Dexforth stepped forward at a critical time to inform the Board of Glenstone's activities, and provided ourselves and Federal authorities with information making Glenstone's activities clear. Dr. Dexforth did this knowing that it would reveal his own involvement in these projects, a matter which is also undergoing Federal adjudication. While we cannot excuse any inappropriate activities in which Dr. Dexforth or any other Exocog employee took part, we hope that his willingness to cooperate with the authorities in making these activities known is acknowledged as his case moves through the legal system.

It should be noted that the vast majority of Exocog's projects are completely legal, and are carried out under a careful set of ethical standards. We continue to have the highest confidence in the value of precognition to the business world, and in Exocog's ability to deliver valuable products to that community. We want to see a new Exocog rise out of the ashes of the old, and so we are suspending all current commercial operations by Exocog, and are beginning a project-by-project review of all Exocog activities, to insure that the projects and employees that move forward will be operating within strict legal and ethical boundaries. We are also carrying out an analysis of how the Board has functioned in the past -- the fact that Glenstone's activities were able to escape detection by the Board means that some aspects of our own oversight procedures were horribly inadequate, and are in need of redefinition and repair.

Finally, in the interests of open information and a free public discussion of these events, the Exocog web site will be preserved in its current state with all security and password controls removed, effective immediately. Exocog's problems can only be cured through openness and free, public discussion, and this is a first step we can take to start the transition to the new Exocog.

The Board sincerely regrets what has happened here. We pledge to Exocog's investors, employees, customers, and partners, and to the general public, that we will learn from these mistakes, and insure that they do not happen again.