From: David Koch <[email protected]>

Subject: Fiber Network Solutions Purchase/Sale – Immediate Legal & Regulatory Exposure for Cogent

Date: March 14, 2025 at 3:04 PM

To: [email protected], [email protected], [email protected]

Bcc: [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected]

Dear Messrs. Chang & Schaeffer:

This email serves as formal notice to Cogent Communications that the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI) was fraudulent, exposing the company to significant legal and regulatory consequences.

Key Facts:

– The FNSI sale was engineered through deception, with financial misconduct, concealed conflicts of interest, and fraudulent misrepresentation.

– The statute of limitations has been reset under federal law (18 U.S.C. §§ 1503, 1512, and 1519) due to newly uncovered evidence of obstruction, financial fraud, and asset concealment, making this a live and prosecutable case under federal law.

– This isn't speculation—it's legal precedent.

– Kyle C. Bacon, along with other co-conspirators, manipulated the deal while fraudulently cutting me out.

– The truth is now public, supported by documented evidence, recorded admissions, and financial forensic analysis at: kylebacon.net

Why This Matters to Cogent:

– Cogent acquired an asset tainted by fraud. Whether knowingly or unknowingly, the company is now linked to a fraudulent transaction.

– This matter is now under active federal scrutiny by the following agencies:

– The FBI

– IRS Criminal Investigations

– The U.S. Securities and Exchange Commission (SEC)

– The U.S. Attorney's Office – Southern District of Ohio

– If Cogent knowingly or unknowingly benefited from a deal based on misrepresentation, federal intervention is imminent. The window to take corrective action before authorities step in is closing.

Immediate action is required. Review the documented evidence at kylebacon.net and determine how Cogent intends to address its exposure.

Before anyone considers any further destruction or concealment of known evidence, please review 18 U.S.C. § 3663A and 18 U.S.C. § 1964. Restitution is not negotiable, and treble damages are required by law.

This is an opportunity for Cogent to proactively address its legal exposure before this fraud escalates into a full-scale regulatory enforcement action.

Best regards,

David Koch
(614) 406-9766
[email protected]

_______________________
David J. Koch
502 W Montgomery St
PMB 578
Willis, TX 77378-8827
(614) 406-9766 (Cell)
_______________________

From: David Koch <[email protected]>

Subject: FORMAL DEMAND LETTER: IMMEDIATE ACTION REQUIRED

Date: March 17, 2025 at 8:14 AM

To: [email protected], [email protected]

Cc: [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected]

Bcc: [email protected], [email protected], [email protected], [email protected]

Dear Messrs. Chang & Schaeffer:

*** Executive Summary ***

– Cogent's internal access logs leave no room for plausible deniability. Your corporate IP (66.28.3.2) accessed and downloaded key evidentiary materials from KyleBacon.net on March 11 & March 14, 2025, confirming full awareness of the fraud. Any claim of ignorance or lack of knowledge is now legally indefensible.

– Federal statutes of limitations have been reset to the present day. Witness tampering in 2024 and recent cyber intrusion attempts constitute fresh criminal acts, triggering a full legal reset under 18 U.S.C. §§ 1503, 1512, and 1519.

– Kyle Bacon's fraudulent 2003 "asset sale" of FNSI was an orchestrated deception. It was a corporate fraud designed to erase 1.2 million shares while I was medically incapacitated.

– If Cogent was misled by Kyle Bacon, this is your moment to correct course. Cogent must immediately determine whether it will rectify this fraud or entrench itself as a co-conspirator.

While federal escalation is imminent, I recognize that an expedited resolution requires structuring a legally binding agreement. If Cogent intends to negotiate in good faith, I am willing to provide a short but reasonable window for the execution of a settlement contract. This is a straightforward settlement—no excessive legal gymnastics required. Any failure to engage by March 18, 2025, will be interpreted as a decision to align with Mr. Bacon—at which point, voluntary resolution will no longer be an option.

– All communications are being preserved as evidentiary exhibits for federal authorities. Any delay, obstruction, or refusal to act will be directly reportable as criminal obstruction under 18 U.S.C. §§ 1503, 1512, and 1519—each of which carries federal penalties.

– Cogent's next action will determine whether it is publicly recognized as a company taking decisive corrective action—or exposed as a willing participant in a 22-year fraudulent scheme now fully exposed and under federal review.

Immediate Next Steps Required by March 18, 2025:

– Confirm receipt of this letter by end of business today.

– Provide a formal, substantive response outlining Cogent's legal position by close of business March 18, 2025. The logs confirm that Cogent has been aware of this since at least March 11, 2025. There has been ample time to absorb the gravity of this matter. Any attempt to delay or deflect at this stage will only reinforce complicity.

– Do not attempt to delay, deflect, or obstruct. Doing so will only escalate this to a full-scale federal criminal and SEC investigation.

This is Cogent's opportunity for voluntary resolution before federal escalation.

Full legal, financial, and regulatory implications follow below.

Best regards,

/s/
Dave Koch
[email protected]
(614) 406-9766

Overview:

The significant volume of direct requests on March 11, 2025 from ASN 174 and on March 14, 2025 directly from Cogent's corporate IP 66.28.3.2 to KyleBacon.net confirms that links to the website were received by Cogent on March 11, 2025. Furthermore, my email of March 14, 2025 was received, thoroughly examined, and key evidence was reviewed. With this in mind, I am following up to discuss next steps and outline a clear path to resolution.

This follows my March 14, 2025 formal notice regarding the fraudulent 2003 acquisition of Fiber Network Solutions, Inc. (FNSI). Recent developments demand immediate attention, including forensic evidence of coordinated cyber intrusion attempts targeting key case materials.

Despite multiple opportunities to resolve this matter professionally, Kyle Bacon has refused to engage in any meaningful way. Instead, forensic data strongly suggests a globally coordinated effort to compromise or disrupt the website hosting critical evidence of fraud.

History:

I was the co-founder, president, CEO, chair, incorporator and statutory agent for Fiber Network Solutions, Inc. (FNSI). While I was incapacitated due to severe illness (circa 2002–2003), I was forcibly and unlawfully divested of control of my company, (FNSI), along with my 1.2 million shares—through actions that constitute clear legal, ethical, and criminal misconduct.

Rather than a legitimate corporate acquisition, a deliberate financial fraud was orchestrated by at least five individuals, ensuring that insiders extracted company value while bypassing rightful shareholder entitlements.

In early 2003, rather than executing a standard stock transaction, they camouflaged this as an "asset sale"—a structure designed to erase my 1.2 million shares and conceal the financial benefits through a sophisticated web of undisclosed and deliberately hidden mechanisms, which have now been exposed.

Plan A was simple: They believed I wouldn't live long enough to expose the fraud. They had credible reports that my medical condition would take care of their problem permanently. They had no contingency for my survival.

Twenty-two years later, here we are. And now, with all of the evidence exposed, it's their problem.

Key Updates:

1.) Website Intrusion Attempts:

Since I provided Kyle Bacon with the URL privately to https://kylebacon.net on February 27, 2025, there has been a surge in coordinated global hacking attempts to disrupt or destroy the site.

Forensic logs indicate that a global bounty may have been placed on taking down the site—an act that likely violates multiple federal laws, including 18 U.S.C. § 1030 (Computer Fraud and Abuse Act). However, initiating, facilitating, or coordinating a bounty in this effort also raises serious legal implications under 18 U.S.C. §§ 1343, 1503, 1512, and 1956, involving wire fraud, obstruction of justice, conspiracy, and potential money laundering.

Prior to disclosing the URL to Mr. Bacon, on February 24, 2025, Cloudflare was preemptively alerted to potential cyber threats and is actively preserving all attack data for federal authorities. Any further attempts to compromise this website will only strengthen the case for federal prosecution.

If these attacks continue, I will have no choice but to escalate this matter to the FBI Cyber Crimes Division. Additionally, I request that Cogent clarify whether it has any knowledge of these cyber-attacks and the status of Kyle Bacon's ongoing affiliation with the company in any capacity.

2.) Statute of Limitations Reset:

These cyber intrusions are active attempts to tamper with evidence, which trigger a reset of the federal statute of limitations under 18 U.S.C. §§ 1503, 1512, and 1519 (Obstruction, Witness Tampering, and Evidence Destruction). This resets the statute of limitations to present day.

This reset is in addition to the obstruction that occurred in 2024 to silence two witnesses. Indeed, under federal conspiracy laws, using an NDA to conceal criminal activity, prevent cooperation with law enforcement, incentivize or intimidate witnesses is obstruction of justice under 18 U.S.C. §§ 1503, 1512, and 1519—felonies. Such NDAs are not a shield—they are a crime. This reset the statute of limitations to 2024.

The audio files that are being reviewed by persons accessing them from ASN 174 (Cogent's corporate IP 66.28.3.2) were recorded on March 13, 2024, one year ago. The content of that four-hour recorded conversation establishes the continuation of this conspiracy and serves as a statute of limitations reset to March 13, 2024.

These recent actions further establish a pattern of misconduct that federal authorities take seriously. These evidence-based acts alone will toll all statutes of limitations. This is not speculation—it is black letter law, codified in federal precedent.

Cogent's internal review confirms that they are now fully aware of the fraud. Any action taken to obstruct, conceal, or destroy evidence from this point forward will constitute a new federal offense, resetting the statute of limitations again.

3.) Invalidity of the 2003 Agreement

It is anticipated that one tortured and legally incoherent defense will be that my signature appears on documents related to the 2003 acquisition. However, under well-established contract and criminal law principles, any agreement induced by fraud, material misrepresentation, duress, or concealment of material facts is voidable or entirely unenforceable.

– Fraudulent Inducement: The agreement is voidable under Restatement (Second) of Contracts § 164(1) and U.S. v. Kormos, 466 F. Supp. 2d 898, as material facts were deliberately concealed from me, and I was misled regarding the nature of the transaction.

– Economic Duress & Lack of Voluntary Assent: My medical incapacitation during 2002–2003, combined with the coercive circumstances orchestrated by the conspirators, left me with no reasonable alternative but to comply, invalidating the agreement under Restatement (Second) of Contracts § 175 and U.S. v. Pressler, 256 F.3d 144.

– Conspiracy to Commit Fraud: Under 18 U.S.C. §§ 371, 1341, and 1343, any agreement that is a product of fraud, deception, or conspiracy is legally void.

– Fiduciary Duty Violations: Kyle Bacon and others involved in the transaction owed a fiduciary duty to act in good faith, disclose material information, and refrain from self-dealing. Their misconduct under Burks v. Lasker, 441 U.S. 471 (1979), renders the transaction unenforceable.

The legal invalidity of this agreement is not a gray area—it is a black-and-white matter of statutory and case law, and any argument to the contrary will be categorically dismantled in discovery.

Any attempt to rely on my signature as validation for the fraudulent 2003 deal is legally indefensible. This transaction will be evaluated under the totality of the circumstances, including my medical state, the deception used, the evidence corroborating a twenty-two-year cover-up, and the statutory framework prohibiting fraudulent corporate acquisitions.

4.) Cogent's Position in This Matter:

I want to believe that, like me, Cogent was misled by Kyle Bacon and those who orchestrated the fraudulent sale of FNSI. However, the facts remain:

– Cogent employed Kyle Bacon immediately following the acquisition.

– Cogent benefited from the transaction, even if it was unaware of the fraudulent foundation upon which it was built.

– As a publicly traded company, Cogent now has a duty to review, disclose, and take corrective action once material fraud is identified.

Legal and regulatory obligations do not disappear simply because the original misconduct was concealed. Under multiple legal doctrines—including unjust enrichment, fraudulent transfer liability, and Sarbanes-Oxley—any company that has unknowingly benefited from fraud assumes a responsibility to correct it once the fraud is discovered.

The situation is clear: Now that this information has been brought to Cogent's attention, it cannot simply look the other way.

Additionally, if any action is taken to obstruct, conceal, or destroy evidence from this point forward, it could establish not only complicity but also direct liability under federal law. Cogent's own internal review has already confirmed awareness of this fraud, and any future inaction will be viewed in that context.

If Cogent was unknowingly entangled in this fraud and Mr. Bacon's mythology, now is the time to take corrective action. Federal authorities—including the FBI, SEC, IRS, and U.S. Attorney—have already received my fully documented 121-page report, which references gigabytes of forensic exhibits, recorded admissions, internal communications, and financial records. The report contains everything necessary to prosecute this case in full.

At this stage, the distinction between those who were misled and those who are complicit will be determined by actions taken now. The report and supporting evidence will be shared with those who have a rightful stake in resolving this matter once it is clear where each party stands.

However, if Cogent chooses to ignore or dismiss these concerns, it risks being perceived as complicit in a fraudulent transaction and a sustained twenty-two-year pattern of obstruction—one that continues to this day.

For full transparency, I am sharing the original offer I made directly to Kyle Bacon, and his reply. The $295M figure was not arbitrary—it was based on our original 50-50 partnership and his stated net worth, with a discount for the convenience of a timely settlement. I provided him an opportunity to resolve this quietly, with no litigation or disputes.

Instead, he refused to engage, and his hollow reply and continued silence only escalated the situation—bringing us to this critical moment.

To clarify, I am not seeking $295M from Cogent—our relationship is different. However, the financial restitution for this matter is not discretionary; it is an inevitable component of aligning Cogent with the correct legal and ethical course. Working together, we can establish a structured resolution that reflects industry standards for equity-based compensation disputes and corporate fraud settlements while mitigating broader exposure.

This is not a matter of speculation, but an unavoidable reality. This email should not be viewed as a mere discussion point but as a pivotal moment that will define how Cogent responds to documented financial fraud, regulatory violations, and ongoing obstruction of justice. The outcome is not in question—only Cogent's position in it.

5.) Clarification:

Let me be clear—my willingness to engage professionally should not be misinterpreted. This is not an invitation for delay, evasion, or further deception.

Mistaking my diplomacy and willingness to pursue a civilized resolution for weakness would be a grave miscalculation. This is not an attempt to avoid confrontation—it is an opportunity to resolve this before it escalates beyond anyone's control.

I have no need for bluff, conjecture, speculation, or clever legal maneuvering. Every assertion I have made is backed by verifiable evidence—an irrefutable forensic trail already in the possession of federal authorities, including the FBI, DOJ, SEC, and IRS-CI. The facts are established. The only question now is how you choose to respond.

Kyle Bacon and the members of his criminal enterprise are already under federal scrutiny. There will be no off-ramps, no quiet cover-ups, and no second chances once this escalates further.

Cogent must now decide:

– Does it wish to align itself with transparency, integrity, and a clean resolution?

– Or will it entrench itself deeper into a scandal that will only compound with time?

I strongly encourage Cogent to carefully evaluate its position. The window for proactive resolution is rapidly closing.

6.) Next Steps:

I seek full and fair restitution for the company I built—nothing more, nothing less.

Kyle Bacon and the members of his criminal enterprise must be held accountable under federal law, specifically Title 18 U.S.C. §§ 1503, 1512, 1519, 1341, 1343, 1951, 1956, 1957, 2314, and 2315, as well as Title 26 U.S.C. §§ 7201, 7206, 7203, and 31 U.S.C. §§ 5314, 5322, and 5324.

Escalation to federal authorities—including the FBI, DOJ, and the U.S. Attorney's Office—is now a matter of procedural necessity. While I remain open to cooperative resolution, all responsible parties, either jointly or severally, will be held fully accountable. At this stage, proactive engagement is the only viable path for mitigating the unavoidable consequences of continued inaction.

I strongly encourage Cogent to carefully evaluate its position and take proactive steps before this matter escalates into a full-scale criminal investigation with broader legal implications.

In closing, doing the right thing is never difficult—along with its inherent humiliation, it is always met with admiration and gratitude.

I am committed to resolving this matter in the most transparent and professional manner possible. Law enforcement, regulatory agencies, and the courts will play a role in ensuring accountability, and I would prefer Cogent to be on the right side of that process.

6.) Inevitability of Media Attention and Mandatory Disclosure in Cogent's Q1-2025 SEC Filings:

The Headline That Protects Cogent:

Cogent Communications Uncovers Fraudulent 2003 Acquisition, Takes Decisive Action to Ensure Accountability.

— David J. Koch

The Headline That Will Define any Inaction:

Cogent Communications Implicated in 22-Year continuing Corporate Fraud & Cover-Up—Federal Investigation Expands.

— David J. Koch

Cogent now has the opportunity to make an informed decision on how to proceed. A proactive stance will demonstrate integrity and mitigate financial, regulatory, and reputational castigations. Conversely, hesitation or inaction will not only escalate legal scrutiny but may also be viewed as willful participation in a sustained cover-up, carrying severe financial and criminal consequences.

I am prepared to work with Cogent's team toward a fair resolution and to ensure full accountability through the appropriate legal channels.

Please confirm receipt of this email by close of business today. Given the urgency and scope of the issues raised, I expect a substantive response outlining Cogent's official position and intended course of action by close of business on Tuesday, March 18, 2025.

Generic assurances that the matter is "being reviewed" will not suffice; this issue demands a decisive stance. Failure to provide a substantive response will be interpreted as a decision to align with Mr. Bacon and his co-conspirators, necessitating immediate escalation to regulatory authorities, affected shareholders, and key industry stakeholders.

Additionally, pursuant to SEC disclosure obligations, federal compliance statutes, and Cogent's own corporate governance policies, I require an email list of all company executives, board members, and legal representatives who bear a fiduciary or statutory responsibility to remain informed of material risks, pending legal matters, and any potential shareholder-impacting developments. This list should be provided no later than close of business on Tuesday, March 18, 2025. Failure to ensure proper notification to obligated parties may constitute a separate regulatory violation, compounding Cogent's liability exposure.

I look forward to resolving this matter cooperatively. Should you wish to arrange a telephone call, please do so via email.

One final word. I did not create this mess. I simply discovered it and am sharing it with you.

Best regards,

Dave Koch
/s/
[email protected]
(614) 406-9766

Citations:

1. Statutory Citations:

– 18 U.S.C. § 1030 (Computer Fraud and Abuse Act): This statute criminalizes unauthorized access to computers and related fraudulent activities.

– 18 U.S.C. § 1341 (Frauds and Swindles): Addresses mail fraud offenses.

– 18 U.S.C. § 1343 (Fraud by Wire, Radio, or Television): Pertains to wire fraud offenses.

– 18 U.S.C. § 1503 (Influencing or Injuring Officer or Juror Generally): Prohibits endeavors to influence, intimidate, or impede jurors or officers of the court, as well as obstructing the due administration of justice.

– 18 U.S.C. § 1512 (Tampering with a Witness, Victim, or an Informant): Criminalizes actions intended to influence, delay, or prevent testimony or cause someone to withhold information from law enforcement.

– 18 U.S.C. § 1519 (Destruction, Alteration, or Falsification of Records in Federal Investigations and Bankruptcy): Addresses the destruction or falsification of records to impede federal investigations.

– 18 U.S.C. § 1951 (Interference with Commerce by Threats or Violence): Known as the Hobbs Act, it criminalizes actual or attempted robbery or extortion affecting interstate or foreign commerce.

– 18 U.S.C. § 1956 (Laundering of Monetary Instruments): Prohibits financial transactions involving proceeds from specified unlawful activities with intent to promote or conceal the illegal activity.

– 18 U.S.C. § 1957 (Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity): Criminalizes knowingly engaging in monetary transactions involving criminally derived property exceeding $10,000.

– 18 U.S.C. § 2314 (Transportation of Stolen Goods, Securities, Moneys, Fraudulent State Tax Stamps, or Articles Used in Counterfeiting): Addresses the interstate transportation of stolen property or securities valued at $5,000 or more.

– 18 U.S.C. § 2315 (Sale or Receipt of Stolen Goods, Securities, Moneys, or Fraudulent State Tax Stamps): Prohibits receiving, possessing, or selling stolen goods or securities valued at $5,000 or more that have crossed state or U.S. boundaries.

– 18 U.S.C. § 371 (Conspiracy to Commit Offense or to Defraud United States): Criminalizes conspiracies to commit any offense against or defraud the United States.

– 26 U.S.C. § 7201 (Attempt to Evade or Defeat Tax): Addresses willful attempts to evade or defeat any tax imposed by the Internal Revenue Code.

– 26 U.S.C. § 7206 (Fraud and False Statements): Prohibits willfully making false statements on tax returns or other documents under penalties of perjury.

– 26 U.S.C. § 7203 (Willful Failure to File Return, Supply Information, or Pay Tax): Criminalizes willful failure to file tax returns, supply required information, or pay taxes due.

– 31 U.S.C. § 5314 (Records and Reports on Foreign Financial Agency Transactions): Requires U.S. persons to keep records and file reports on foreign financial agency transactions.

– 31 U.S.C. § 5322 (Criminal Penalties): Establishes criminal penalties for willful violations of the reporting requirements under the Bank Secrecy Act.

– 31 U.S.C. § 5324 (Structuring Transactions to Evade Reporting Requirement Prohibited): Prohibits structuring transactions to evade reporting requirements, such as those mandated by the Bank Secrecy Act.

2. Restatement (Second) of Contracts Citations:

– § 164(1) (When a Misrepresentation Makes a Contract Voidable): States that if a party's assent is induced by a fraudulent or material misrepresentation upon which they are justified in relying, the contract is voidable by the recipient.

– § 175 (When Duress by Threat Makes a Contract Voidable): Indicates that if a party's assent is induced by an improper threat leaving no reasonable alternative, the contract is voidable by the victim.

3. Case Law Citations:

– United States v. Kormos, 466 F. Supp. 2d 898 (S.D. Ohio 2006): In this case, the court addressed issues related to fraudulent inducement and misrepresentation, holding that contracts induced by fraud are voidable.

– United States v. Pressler, 256 F.3d 144 (3d Cir. 2001): This case discussed economic duress and lack of voluntary assent, determining that agreements signed under such conditions are unenforceable.

– Burks v. Lasker, 441 U.S. 471 (1979): The Supreme Court held that corporate directors have fiduciary duties, and breaches of these duties can render transactions voidable or unenforceable.

_______________________
David J. Koch
502 W Montgomery St
PMB 578
Willis, TX 77378-8827
(614) 406-9766 (Cell)
_______________________

From: [email protected]

Subject: Whistleblower Inquiry – Immediate Response Required

Date: March 18, 2025 at 10:47 AM

To: [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected]

Bcc: [email protected], [email protected], [email protected], [email protected]

Dear Mr. Schaeffer, Mr. Chang, and Cogent Leadership:

I have reviewed the correspondence and evidence I provided to Cogent over the past several days. As I continue to assess the full scope of this matter, I recognize that the volume and significance of the information may have overwhelmed your internal review process.

I am willing to accommodate reasonable requests for time when such requests are explicitly justified.

However, I now need an immediate answer regarding a whistleblower inquiry made to Cogent in December 2023 regarding the fraudulent FNSI acquisition.

Key Questions for Immediate Clarification

– Did a whistleblower contact Cogent in December 2023 regarding fraud or stock options in the FNSI acquisition?

– Did Cogent conduct an internal investigation in response to this inquiry? If not, why?

– Did Cogent refer this whistleblower to any of the original conspirators—including Bill Kelly or Kyle Bacon—rather than investigating the allegations internally?

If Cogent referred the whistleblower to the original conspirators, then your legal position just deteriorated significantly. This action would directly implicate Cogent and its executives in an ongoing criminal conspiracy.

Who is Advising You?

Whoever is advising you to ignore my emails and remain silent is leading you into a disaster.

– If you were unaware of the whistleblower inquiry before now, you need to start asking internal questions immediately.

– If you were aware and failed to investigate, then you have a serious legal problem.

– If you knowingly referred the whistleblower to the original conspirators, then you may already be criminally exposed.

Consult a Criminal Attorney – Not a Corporate Lawyer

I strongly suggest that Cogent's executives, Board of Directors, and legal counsel consult with a criminal attorney—not a corporate lawyer.

The distinction between civil liability and federal criminal conspiracy is profound. If you have not yet grasped this reality, you are already behind.

Give my emails to a criminal attorney. See what they say.

Your Emails Are Now Federal Evidence

Every email exchanged within Cogent regarding this matter is now a potential federal exhibit. If internal discussions confirm that the whistleblower was referred to original conspirators, those emails will become part of a federal investigation.

Potential Criminal Liability for Cogent and Its Executives

If Cogent knowingly or negligently facilitated witness tampering, retaliation, or obstruction of justice, the company and its executives may now be exposed to serious federal criminal liability, including but not limited to:

– 18 U.S.C. § 1503 – Obstruction of Justice

– 18 U.S.C. § 1512 – Witness Tampering

– 18 U.S.C. § 1519 – Destruction of Evidence

– 18 U.S.C. § 1343 – Wire Fraud

– 18 U.S.C. § 371 – Conspiracy to Defraud the United States

If Cogent referred the whistleblower to the original conspirators, and those conspirators coerced them into silence, executed an NDA, enticed or threatened them, then Cogent itself became an active participant in federal crimes.

This is not a hypothetical concern. It is a direct legal exposure.

Your Silence Is Noted – And Will Be Interpreted Accordingly

This is not a minor issue.

– If Cogent was unwittingly entangled in this conspiracy, then now is the time to course-correct.

– If Cogent knowingly referred the whistleblower to the original conspirators rather than investigating internally, then you need to immediately assess the personal and corporate legal consequences.

This is no longer a question of whether Cogent is involved. It is a question of how deep that involvement goes—and whether it is correctable before prosecutors intervene.

Your Next Move Will Define Your Fate

– Confirm receipt of this email by 9:00 AM ET tomorrow, March 19, 2025. Failure to do so will be noted.

– Disclose whether Cogent referred the whistleblower to any original conspirators.

– State Cogent's position—because silence will be treated as willful complicity.

Cogent's Actions Have Now Directly Tied the Company to an Ongoing Criminal Conspiracy

This is not an accusation—it is a reality that must be confronted immediately.

– If Cogent referred the whistleblower to the original conspirators, rather than investigating, then the company itself is now part of the ongoing conspiracy.

– If that referral resulted in coercion, threats, or an NDA, then federal prosecutors will view it as witness tampering and obstruction of justice.

– If that referral resulted in evidence being deleted or altered, then that is a separate federal felony.

– If Cogent's legal team advised this course of action, then the executives following that advice are still personally liable.

Your Window for Corrective Action Is Closing

If Cogent was misled into becoming part of this conspiracy, that can be corrected—but only if the company acts immediately and transparently. At this point, you are standing at a crossroads: either acknowledge the issue and take corrective action, or continue down a path that leads to inevitable federal scrutiny. Once prosecutors begin their work, this will be out of everyone's hands.

If Cogent knowingly participated in this fraud, then that will surface as well.

Best regards,

/s/
Dave Koch
[email protected]
(614) 406-9766

From: Dave Koch <[email protected]>

Subject: Escalation Notice – Immediate Action Required

Date: March 19, 2025 at 9:42 AM

To: [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected]

Bcc: [email protected], [email protected], [email protected], [email protected]

Dear Mr. Schaeffer, Mr. Chang, and Cogent Leadership:

Your continued silence is noted—and it is damning.

Every email Cogent has ignored is now potential evidence of obstruction.

If you were innocent, you would have denied these allegations immediately. You did not. That speaks volumes.

Federal investigators do not look kindly on corporate silence in the face of fraud allegations—especially when that silence misleads investors and prevents material disclosure.

At this point, I must assume that Cogent has been fully briefed on the depth of its exposure and is still deciding how to respond. While you delay, the legal landscape continues to shift beneath your feet.

This is no longer just a question of whether Cogent unknowingly inherited fraud—it is now about Cogent's direct participation in the cover-up and whether the company intends to take corrective action or double down on a course that leads to inevitable federal scrutiny.

I am hopeful that all officers and board members have independently consulted with a privately retained, highly experienced criminal attorney because this is no longer a corporate law matter.

Key Developments You Must Acknowledge Immediately:

– I am aware that a whistleblower contacted Cogent in December 2023 regarding stock options and the fraudulent acquisition of FNSI.

– The telephone call evidence is locked in.

– The text messaging evidence is locked in.

– The email evidence is locked in.

– Instead of conducting an internal investigation, Cogent referred that whistleblower back to the very people responsible for the fraud.

– These acts alone tied Cogent directly to an ongoing criminal enterprise and reset the statute of limitations—again.

– The purchase agreement filed with the SEC lists H. Helen Lee as the Chief Financial Officer who executed the transaction on behalf of Cogent. Helen was working directly with Kyle Bacon and Diana Anderson (now Diana Ritchie Thomas) for months prior to the transaction. I was there.

– It is difficult to believe that she was oblivious to the fraudulent nature of the deal. If she was not unaware, then the key question becomes: To whom was she reporting within Cogent?

You need to understand the legal ramifications of that decision immediately.

Crime-Fraud Exception – There Is No Attorney-Client Privilege

Cogent's legal team should be aware of the crime-fraud exception under federal law.

Under United States v. Zolin, 491 U.S. 554 (1989), the crime-fraud exception removes attorney-client privilege when legal advice is sought or used to commit or cover up a crime or fraud.

Cogent's attorneys cannot shield any communications, documents, or internal discussions related to:

– Suppressing evidence

– Misleading regulators or investors

– Coaching witnesses to protect conspirators

Federal statutes that apply under the crime-fraud exception include:

– 18 U.S.C. § 371 – Conspiracy to Defraud the United States

– 18 U.S.C. § 1503 – Obstruction of Justice

– 18 U.S.C. § 1512 – Witness Tampering

– 18 U.S.C. § 1519 – Destruction or Concealment of Records

– 18 U.S.C. § 1343 – Wire Fraud

– 18 U.S.C. § 1956 – Money Laundering

This means that any legal advice Cogent's attorneys have given that furthers or conceals this conspiracy is not protected by privilege.

Potential Criminal Exposure for Cogent, Its Executives and Members of its Board of Directors:

– 18 U.S.C. § 371 – Conspiracy to Defraud the United States

– 18 U.S.C. § 1503 – Obstruction of Justice

– 18 U.S.C. § 1512 – Witness Tampering

– 18 U.S.C. § 1519 – Destruction or Concealment of Records

– 18 U.S.C. § 1343 – Wire Fraud

– 18 U.S.C. § 1956 – Money Laundering

The opportunity to resolve this before federal intervention escalates will not remain open indefinitely.

What Has Happened Inside Cogent Over the Last 48 Hours?

I assume the following:

– Your attorneys spent the weekend drafting a response based on statute of limitations or signed documents.

– By Monday morning, they realized that argument is useless.

– You have now reviewed internal emails and call logs to determine whether Cogent had contact with the whistleblower.

– You likely spoke to Bill Kelly, which only made your situation worse, and it again reset the statute of limitations.

– You are now debating whether you should reach out to Julie Presas, Jim Rook, or Eric Wittenberg.

If you have not spoken to them yet, you should—immediately.

If you have, then you already know that Bill Kelly was removed from FNSI for ethical violations so severe that a compulsory formal bar complaint was filed against him.

Your Window for Corrective Action Is Rapidly Closing

At this point, Cogent must make a decision.

– Does Cogent move swiftly and settle this now?

– Or does it entrench itself further and face the full force of legal exposure?

If you genuinely did not understand the magnitude of what you inherited, then I am your only path forward.

If you did understand it and are actively engaging in the cover-up, then you already know what happens next.

This is the final escalation before I take the next step.

Your silence is no longer just an oversight—It is an admission

Required Immediate Actions

– Confirm receipt of this email by 5:00 PM ET today, March 19, 2025. Failure to do so will be noted.

– Disclose whether Cogent referred the whistleblower to any original conspirators.

– State Cogent's position—because continued silence will be treated as willful complicity.

If you continue to ignore this, I will assume that Cogent has chosen to dig in and go through the motions of fighting a battle that is unwinnable. You cannot fight evidence.

If that is the case, I will escalate accordingly.

Choose wisely.

Best regards,

/s/
Dave Koch
[email protected]
(614) 406-9766

From: Chang, John <[email protected]>

Subject: Cogent

Date: March 19, 2025 at 3:27 PM

To: [email protected]

Mr. Koch

Cogent has received a number of emails from you. We deny any wrongdoing with respect to the FNSI acquisition that occurred over twenty years ago. We believe you have no factual or legal basis to support your allegations. We will vigorously defend ourselves against any frivolous claims.

— John Chang, Chief Legal Officer, Cogent Communications

You should not expect responses to your future correspondence. We will reply if and when we believe a reply is warranted.

— John Chang, Chief Legal Officer, Cogent Communications

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/2025_0314_to_0319_Email_Cogent_Koch.pdf .

From: Chang, John <[email protected]>

Subject: Cogent

Date: March 19, 2025 at 3:27 PM

To: [email protected]

Mr. Koch,

Cogent has received a number of emails from you. We deny any wrongdoing with respect to the FNSI acquisition that occurred over twenty years ago. We believe you have no factual or legal basis to support your allegations. We will vigorously defend ourselves against any frivolous claims.

— John Chang, Chief Legal Officer, Cogent Communications

You should not expect responses to your future correspondence. We will reply if and when we believe a reply is warranted.

— John Chang, Chief Legal Officer, Cogent Communications

John Chang
Chief Legal Officer
Cogent Communications

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/John_Chang_03192025_Reply.pdf .

502 W Montgomery St Suite 578
Willis, Texas 77378

MEMORANDUM

TO: Board of Directors, Cogent Communications Holdings, Inc.

FROM: David J. Koch, Whistleblower

DATE: April 5, 2025

SUBJECT: IMMINENT DENIAL OF D&O INSURANCE COVERAGE – CRIMINAL EXPOSURE RISK

Ladies and Gentlemen,

This memo is provided as a formal courtesy and final warning. Based on publicly disclosed facts—documented in press releases dated March 24 and March 28, 2025, and now expanded in the April 5, 2025 release—each of you faces imminent risk of losing indemnity protection under your Directors and Officers (D&O) liability insurance policies.

Multiple federal whistleblower filings and documented evidence have triggered standard exclusions found in virtually all D&O policies:

• FRAUD EXCLUSION: Denies coverage for intentional acts of fraud, concealment, or dishonesty.

• WILLFUL MISCONDUCT EXCLUSION: Denies coverage for knowingly unlawful behavior.

• IMPROPER PERSONAL PROFIT EXCLUSION: Voids coverage for profits or compensation received illegally or without entitlement.

• PRIOR KNOWLEDGE / PRIOR ACTS EXCLUSION: Denies claims arising from conduct that pre-dates the policy period or should have been disclosed during underwriting.

The following actions—now substantiated through documents, audio, logs, and corroborated testimony—fall squarely within these exclusions:

• The fraudulent 2003 acquisition of Fiber Network Solutions, Inc. (FNSI).

• Failure to disclose whistleblower filings to the SEC, FBI, and IRS-CI dating back to December 2023.

• Referring the whistleblower back to the original conspirators.

• Verified cyberattacks against whistleblower-operated infrastructure corroborated by Cloudflare threat reports and IP logs.

• Receipt of formal settlement demands accompanied by authenticated evidence of ongoing criminal conduct.

Should federal or civil adjudication determine wrongdoing:

• Your insurer may seek recovery of defense costs already paid.

• Your D&O policy may be rescinded ab initio if material facts were omitted.

• Derivative litigation initiated by whistleblower disclosures is now inevitable.

Cogent's silence in the face of documented criminal conduct has escalated beyond reputational risk. You are no longer shielded. You are now individually exposed.

This memorandum is submitted pursuant to federal whistleblower protections under the Sarbanes-Oxley Act and the Dodd-Frank Act.

I do not intend to warn you twice.

Respectfully,

David J. Koch
Co-Founder, Fiber Network Solutions, Inc.
Federal Whistleblower – SEC, FBI, DOJ, and IRS-CI

Enclosure: April 5, 2025 News Release

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/MEMO_COGENT_BOARD20250405.pdf .

FOR IMMEDIATE RELEASE

Date: April 5, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Text or Email Preferred)

Washington, D.C. — David J. Koch, co-founder of Fiber Network Solutions, Inc. (FNSI) and lead whistleblower in a federal fraud and concealment case spanning more than two decades, has filed formal complaints with the U.S. Department of Justice (DOJ) and the Financial Industry Regulatory Authority (FINRA).

The complaints challenge a $174.4 million IPv4 revenue securitization announced by Cogent Communications Holdings, Inc. (NASDAQ: CCOI) on April 4, 2025.

The complaints allege that Cogent's April 4, 2025 announcement of a private IPv4 revenue securitization—structured through a bankruptcy-remote subsidiary—appears to be a calculated effort to shield future revenue streams from civil and criminal liability tied to the unlawful 2003 acquisition of FNSI.

The original whistleblower complaint, detailing a 22-year conspiracy involving securities fraud, concealment, and asset misappropriation, is currently under review by the SEC, FBI, and IRS-CI.

"You don't move $174 million in predictable, contract-backed revenue into a bankruptcy-remote shell—while under active investigation by multiple federal agencies—unless you're bracing for legal impact," Koch stated.

"This appears to be a deliberate attempt to conceal income streams before enforcement actions begin."

The complaints submitted to DOJ and FINRA allege that Cogent has failed to disclose multiple material risks to investors and regulators, including:

• Active whistleblower complaints filed with the SEC, DOJ, and IRS-CI.

• Legal exposure stemming from the unlawful 2003 acquisition and concealment of FNSI assets.

• Potential criminal liability for current and former Cogent executives and board members under federal statutes covering securities fraud, wire fraud, conspiracy, and obstruction of justice.

• Imminent enforcement risk related to revenue shielding, material nondisclosure, and misrepresentation in connection with a securities offering.

Several indicators suggest this transaction may be reactive and legally defensive in nature:

• The offering was routed through a bankruptcy-remote special purpose vehicle, an entity often used to isolate assets from litigation, creditor recovery, or regulatory action.

• Although Cogent's April 4, 2025 press release lists numerous operational and market risks, it omits any reference to pending federal investigations or whistleblower activity—even though such notice was formally acknowledged in writing by Chief Legal Officer John Chang on March 19, 2025.

• The securitized assets—leased IPv4 addresses and customer receivables—constitute predictable cash flows typically ring-fenced ahead of legal or regulatory scrutiny.

• No announced acquisition, infrastructure investment, or strategic initiative explains the timing or scale of the $174.4 million capital raise.

Koch has formally urged the DOJ and FINRA to take immediate action, including:

• Launching investigations into the structure, timing, and intent of the Series 2025-1 IPv4 securitization.

• Alerting institutional buyers to the existence of undisclosed federal whistleblower complaints and associated enforcement risks.

• Conducting a comprehensive audit of communications related to the transaction, including correspondence involving the Board of Directors, underwriters, and legal counsel.

• Reviewing the transaction under SEC Rule 10b-5 and federal fraudulent conveyance statutes.

This latest escalation adds to the mounting scrutiny surrounding Cogent Communications and its involvement in the long-concealed FNSI asset acquisition matter. Additional whistleblower disclosures, agency records, and supporting documentation are expected to emerge in the coming days.

This release is based on publicly available information, agency filings, and good faith analysis provided pursuant to whistleblower protections under federal law.

*** END ***

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250405.pdf .

FOR IMMEDIATE DISTRIBUTION

Date: April 9, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Please text or email first)

WASHINGTON, D.C. – April 9, 2025 – Despite multiple formal whistleblower submissions and evidence of active federal scrutiny, Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has issued no public response to serious allegations involving the company's 2003 acquisition of Fiber Network Solutions, Inc. (FNSI).

On April 4, 2025, Cogent announced a $174.4 million IPv4 address securitization offering. This announcement occurred after written whistleblower notices were acknowledged by the company's Chief Legal Officer, John Chang, on March 19, 2025, and while the company is believed to be under review by agencies including the SEC, DOJ, FBI, and IRS-CI.

None of this was disclosed in Cogent's public offering documents or April 4 press release. These omissions raise questions under SEC Rule 10b-5 (17 C.F.R. § 240.10b-5), which prohibits material misstatements or omissions in connection with the sale of securities.

As such, Cogent and its officers and directors may face exposure to enforcement actions and civil claims.

Key documents are available at:
https://kylebacon.net/news.html

Including:

• March 2025 whistleblower correspondence acknowledged by Cogent's legal department.

• Allegations involving fraudulent transfer, corporate concealment, and ongoing nondisclosure.

• A memorandum to Cogent's Board outlining potential D&O insurance exclusions tied to these failures.

If your legal counsel was provided or coordinated by someone else named in this matter, you are not being independently represented—you are being managed.

If you are not retaining your own attorney, you are not a client. You are a tool. In federal cases, tools aren't protected—they're discarded.

You are not tangential. You are legally accountable.

• 18 U.S.C. §1512 – No NDA can prevent cooperation with a federal criminal investigation.

• 18 U.S.C. §1510 / §1512(b) – Coercing someone to sign or honor an NDA intended to conceal a crime may constitute obstruction of justice.

• 18 U.S.C. §4 – Knowingly concealing a felony may expose you to prosecution for misprision of felony.

There are respected white-collar criminal defense attorneys available from Washington, D.C. to Northern California. If you are reading this and know you've been involved—even peripherally—you still have a legal option. But that window is closing.

• Stop relying on internal assurances like "this will pass" or "you'll be fine." This is a federal matter—nothing is hidden.

• Start distinguishing between those protecting the truth—and those protecting themselves.

• Retain your own legal counsel immediately.

• Show your attorney everything that has been published.

• Tell the truth before someone else does.

This is the final public notice.

The first to speak often walk away. The last to speak serve the longest sentences. And at your age, there is no comeback.

CONTACT:
David J. Koch
Co-Founder, Fiber Network Solutions, Inc.
Federal Whistleblower – SEC, DOJ, FBI, IRS-CI
[email protected]
(614) 364-4085
(Please Text or Email First)

Downloads available at:
https://kylebacon.net/news.html

• News Release – April 5, 2025
• Memo to Cogent Board – D&O Exposure
• Email Exchange – Cogent Legal Team
• April 4 Press Release – IPv4 Offering

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250409.pdf .

FOR IMMEDIATE RELEASE

Date: April 9, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Please Text or Email First)

WASHINGTON, D.C., April 9, 2025 — A formal whistleblower disclosure has been filed with and officially logged by the U.S. Department of Justice, FINRA, the Securities and Exchange Commission (SEC), and the IRS Criminal Investigation Division (IRS-CI), alleging that Cogent Communications Holdings, Inc. (NASDAQ: CCOI) failed to disclose material federal risk prior to launching its $174.4 million IPv4 securitization on April 4, 2025.

David J. Koch, co-founder and former CEO of Fiber Network Solutions, Inc. (FNSI), alleges that Cogent's 2003 acquisition of FNSI was the product of a coordinated financial fraud executed while he was medically incapacitated and believed by the conspirators to be terminally ill, thereby assuming the crime would remain permanently buried.

There was no contingency plan if Koch survived — which he has.

A 125-page federal whistleblower report outlines a 22-year concealment effort involving insider payoffs, rescinded stock options, falsified board documentation, and nondisclosure agreements intended to suppress witness cooperation.

• March 19, 2025 – Cogent's Chief Legal Officer formally acknowledges receipt of a detailed federal whistleblower disclosure.

• April 4, 2025 – Cogent publicly announces a $174.4 million IPv4-backed securitization.

• April 5, 2025 – The full whistleblower report is submitted to the DOJ, SEC, FINRA, and IRS-CI.

• April 9, 2025 – Digital surveillance and intrusion attempts targeting the whistleblower's website are recorded and logged.

Cogent's failure to disclose ongoing federal investigations and whistleblower filings to underwriters, rating agencies, or institutional buyers may constitute securities fraud.

Such omissions could materially mislead investors and violate multiple provisions of federal law and SEC disclosure rules.

Potential legal violations include:

• Willful omission of known regulatory risk

• Dissemination of misleading financial disclosures

• Obstruction of justice (18 U.S.C. §1512)

• Conspiracy to defraud the United States (18 U.S.C. §371)

• Full 125-page federal whistleblower report submitted to DOJ, SEC, FINRA, and IRS-CI

• Verified server logs confirming unauthorized surveillance and intrusion attempts

• Audio recordings of key individuals acknowledging misconduct

• Internal financial records, email exchanges, and board-related documents supporting the claims

For access to the full report or media inquiries, contact:

David J. Koch
Whistleblower – FNSI Federal Fraud & Concealment Case
Email: [email protected] | Cell: (614) 406-9766
(Please text or email first)

###

Further news releases available at:
https://KyleBacon.net/news.html

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250409_FIRNA.pdf .

FOR IMMEDIATE DISTRIBUTION

Date: April 11, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Text or Email Preferred)

WASHINGTON, D.C. — April 11, 2025 — A $174.4 million IPv4-backed securitization by Cogent Communications Holdings, Inc. (NASDAQ: CCOI) is reportedly scheduled to close today despite an active federal whistleblower case under formal review by multiple regulatory agencies.

The whistleblower, David J. Koch—co-founder and former President, CEO, and Chairman of Fiber Network Solutions, Inc. (FNSI)—has submitted a 125-page federal report to the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), the Internal Revenue Service Criminal Investigation Division (IRS-CI), and FINRA.

The report outlines a 22-year pattern of continued concealment and misconduct, including:

• A fraudulent 2003 acquisition of FNSI while Koch was medically incapacitated.

• Insider payoffs and manipulation of equity positions.

• Falsified legal documents and nondisclosure agreements used to obstruct witness cooperation.

• Continued concealment by individuals still connected to Cogent.

Cogent's offering materials, press releases, and investor disclosures contain no mention of the whistleblower report or the ongoing federal investigations—despite formal notice being acknowledged weeks before the offering was announced.

"If this offering closes without disclosing material risk to underwriters and institutional buyers, Cogent and its affiliates could face serious exposure under federal securities law."

— Representative for the Whistleblower

"This is not a private dispute. It is an active federal matter involving multiple agencies."

• March 19, 2025 – Cogent's Chief Legal Officer formally receives and acknowledges whistleblower notice regarding federal filings.

• April 4, 2025 – Cogent publicly announces $174.4 million IPv4 securitization (Series 2025-1).

• April 5, 2025 – Whistleblower report submitted to DOJ, SEC, IRS-CI, and FINRA.

• April 9, 2025 – Cyber surveillance logs confirm website activity and intrusion attempts originating from networks linked to named parties.

Material omission of known risk — Failure to disclose whistleblower filings and agency inquiries may violate SEC disclosure rules governing material information in securities offerings.

Obstruction of justice — Under 18 U.S.C. §1512, any efforts to suppress or conceal evidence tied to the report may trigger obstruction charges.

Ongoing conspiracy — Under 18 U.S.C. §371, active concealment of a past financial crime may constitute a continuing conspiracy.

Fraudulent concealment — As held in Klehr v. A.O. Smith Corp., 521 U.S. 179 (1997), statutes of limitation may be tolled where defendants' affirmative acts of concealment prevent discovery of wrongdoing.

"Every institutional buyer participating in this transaction has a right to full disclosure."

— Representative for the Whistleblower

"If the deal proceeds without acknowledging the federal investigations and formal whistleblower filings, those involved—including underwriters, legal counsel, and executive officers—may face exposure under federal securities and obstruction laws."

For supporting documentation, including whistleblower notices delivered to Cogent and the company's formal acknowledgment of receipt, visit:
https://KyleBacon.net/news.html

###

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250411.pdf .

Document Type: News Release

Date: April 14, 2025

Primary Parties: David J. Koch; Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Subject Matter: $174.4 million IPv4 securitization; whistleblower disclosures; SEC filings confirming transaction closing; federal investigation

Related Individuals: Dave Schaeffer; John Chang; Chris Myers

Referenced Agencies: DOJ; SEC; IRS-CI; FINRA

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: April 14, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — April 14, 2025 — Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has finalized its $174.4 million IPv4 securitization offering despite an active whistleblower investigation currently under review by the U.S. Department of Justice (DOJ), Securities and Exchange Commission (SEC), Internal Revenue Service–Criminal Investigation (IRS-CI), and FINRA.

The investigation centers on a 22-year pattern of concealment and obstruction tied to the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI).

Despite no investor-facing disclosures, Cogent's April 11, 2025 SEC filing confirms legal execution of the transaction through a signed Indenture Supplement and a Second Amendment to the Base Indenture.

Both instruments bear the signature of Beverly D. Capers, Vice President of Wilmington Trust, acting as Indenture Trustee on the $174.4 million offering.

"At a time when the Internet was still in its infancy and ethical boundaries were often abandoned in pursuit of rapid gain, this deal closed quietly—under the radar."

— Representative for the Whistleblower

"Even after the chaos of the dot-com era faded, material risk disclosures were never made—not even after direct legal notice to Cogent's leadership, which was acknowledged in writing by the company's Chief Legal Officer. That omission could carry serious regulatory consequences."

• Exhibit 4.1 – Indenture Supplement (April 11, 2025)

• Exhibit 4.2 – Second Amendment to the Base Indenture (executed by Cogent and Wilmington Trust)

Notably, Cogent has issued no press release or public statement announcing the April 11 closing.

As of this release, the transaction is not referenced on Cogent's website, investor relations portal, or any public-facing communications. Confirmation appears only in the exhibits to Cogent's April 11, 2025 Form 8-K filing with the SEC.

The absence of public disclosure is highly irregular for a $174 million securitization and raises serious concerns about Cogent's intent to conceal material risk from investors, regulators, and the public.

The whistleblower report—now expanded to 137 pages—alleges a 22-year cover-up tied to the fraudulent 2003 acquisition of Fiber Network Solutions, Inc. (FNSI).

The report includes voice recordings, falsified governance documents, financial exhibits, and evidence of ongoing concealment through 2025.

The report further confirms a legal reset of the statute of limitations under Klehr v. A.O. Smith Corp., 521 U.S. 179 (1997) and United States v. Smith, 740 F.2d 734 (9th Cir. 1984), based on continued acts of obstruction and concealment occurring as recently as early 2025.

"Exhibit 2.5 is the silent transaction that built Cogent's foundation—buried, unindexed, and undisclosed."

— Chris Myers, Former Vice President Administration, Fiber Network Solutions

"I spent eight years building Fiber Network Solutions. What Cogent acquired—through a coordinated fraud—was not furniture or fiber. It was our sources and methods, our proprietary co-location model, intellectual property, trade secrets, and design."

— David J. Koch, Co-Founder, President, CEO and Chairman, Fiber Network Solutions

Timeline, exhibits, and voice recordings are available at:

https://FiberNetworkSolutions.net/news.html

###

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250414.pdf .

Document Type: News Release

Date: April 15, 2025

Primary Parties: David J. Koch; Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI); Wilmington Trust, N.A.

Subject Matter: $174.4 million IPv4 securitization; whistleblower disclosures; Cloudflare forensic access logs; trustee awareness of federal investigation

Related Individuals: Dave Schaeffer; John Chang; Beverly D. Capers

Referenced Agencies: DOJ; SEC; IRS-CI; FINRA

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: April 15, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — April 15, 2025 — Cloudflare server logs confirm that Wilmington Trust, N.A.—Indenture Trustee for Cogent Communications Holdings, Inc. (NASDAQ: CCOI)—did not access any of the four whistleblower disclosures delivered to Cogent on March 14, March 17, March 18, and March 19, 2025 until 8:33 AM ET on April 14, 2025.

This occurred three days after Cogent executed and filed its $174.4 million IPv4 securitization with the Securities and Exchange Commission.

The specific document accessed was a consolidated PDF dated March 21, 2025 titled "20250321_Email_Cogent_Koch.pdf." The document compiled all four earlier legal notices and outlined Cogent's exposure to active federal criminal investigations related to the 2003 acquisition of Fiber Network Solutions, Inc.

The final page contained a written reply from Cogent's Chief Legal Officer whose response to the allegations has been described by observers as dismissive and legally indefensible.

Accessed URLs:

https://fibernetworksolutions.net/news.html
https://fibernetworksolutions.net/ewExternalFiles/20250321_Email_Cogent_Koch.pdf

Timestamp of Activity (Eastern Time):

April 14, 2025 — Beginning 8:33:20 AM (multiple requests recorded)

"This is irrefutable forensic evidence. Wilmington Trust did not open the document until three days after the deal closed."

— Technical Spokesperson for the Whistleblower

"If Cogent downplayed or concealed the seriousness of the allegations, that would make Wilmington Trust a misinformed fiduciary—not a co-conspirator."

SEC filings confirm that Beverly D. Capers, Vice President of Wilmington Trust, signed both the Indenture Supplement and the Second Amendment to the Base Indenture on April 11, 2025—legally finalizing the $174.4 million securitization transaction.

The March 21 whistleblower notice consolidating the earlier warnings was emailed directly to Wilmington Trust recipients:

[email protected]
[email protected]
[email protected] (bounced)
[email protected]

Cloudflare logs confirm that Wilmington Trust systems did not access the disclosures until April 14—after the transaction had already closed.

"This is Cogent's pattern. In 2003 they acquired Fiber Network Solutions while I was medically incapacitated and buried the transaction inside a non-indexed exhibit in their IPO filings."

— David J. Koch, Co-Founder, Fiber Network Solutions

"Twenty-two years later, after I offered them a diplomatic off-ramp, they ignored the warnings and responded with a dismissive message confirming their participation in the original fraud."

The whistleblower report submitted to federal agencies documents how Cogent concealed the 2003 FNSI acquisition within Exhibit 2.5 of its Form S-1 registration statement, omitting key schedules and shareholder records.

The transaction remained undisclosed in public filings and investor communications for more than two decades.

SEC Source:
https://www.sec.gov/Archives/edgar/data/1158324/000104746903011242/a2106111zex-2_5.htm

The new forensic evidence—including Cloudflare logs and access metadata—will be submitted to federal authorities alongside statutory reset arguments based on:

Klehr v. A.O. Smith Corp. (1997)
United States v. Smith (9th Cir. 1984)

These cases support the position that the statute of limitations tied to the 2003 FNSI fraud has been reset by continuing acts of concealment occurring as recently as 2025.

MEDIA CONTACT

[email protected]
(614) 364-4085 (Kindly Text or Email First)

Supporting access logs, filings, and correspondence available upon request.

###

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250415.pdf .

Document Type: News Release

Date: April 16, 2025

Primary Parties: Fiber Network Solutions, Inc.; Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; John Chang

Referenced Institutions: U.S. Department of Justice; FBI; Securities and Exchange Commission; IRS Criminal Investigation; FINRA; Wilmington Trust

Subject Matter: $174.4 million IPv4 securitization; whistleblower disclosures; federal investigative submissions; disclosure obligations in SEC filings

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: April 16, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — April 16, 2025 — Just days after it was revealed that Cogent Communications Holdings, Inc. (NASDAQ: CCOI) closed a $174.4 million IPv4 securitization transaction amid ongoing federal whistleblower investigations, new forensic and legal evidence indicates that Cogent's CEO, David Schaeffer, may have committed perjury by signing and certifying offering documents under penalty of perjury while allegedly concealing the company's criminal exposure.

Aside from potential Sarbanes-Oxley implications, this conduct may also constitute a violation of 18 U.S.C. §1001, which prohibits knowingly and willfully making false statements or concealing material facts in matters within the jurisdiction of the federal government, including filings submitted to the Securities and Exchange Commission.

The 137-page whistleblower report—submitted to the U.S. Department of Justice, FBI, SEC, IRS-CI, FINRA, and other federal agencies—documents a 22-year pattern of concealment tied to the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI). The acquisition occurred while David J. Koch, the company's co-founder, president, CEO, and chairman, was medically incapacitated and not expected to survive.

During that period, Koch alleges he was stripped of control of the company and his 1.2 million shares through actions that now form part of the whistleblower allegations.

Between March 14 and March 19, 2025, four formal legal notices were delivered to Cogent Communications outlining the alleged conspiracy, the involvement of federal investigative bodies, and potential legal exposure. Receipt was acknowledged in writing on March 19, 2025 by Cogent's Chief Legal Officer, John Chang.

On April 5, 2025, a memorandum was sent to Cogent's Board of Directors warning of potential felony exposure, personal liability, and the risk that Directors and Officers insurance coverage could be denied due to nondisclosure of material facts.

March 21, 2025 – Consolidated Legal Disclosure to Cogent
https://fibernetworksolutions.net/ewExternalFiles/20250321_Email_Cogent_Koch.pdf

April 5, 2025 – Memo to Cogent's Board of Directors
https://fibernetworksolutions.net/ewExternalFiles/MEMO%20TO%20COGENT%20BOARD.pdf

April 14, 2025 – News Release
https://fibernetworksolutions.net/ewExternalFiles/News_Release20250414_174MCOGENT_DEAL_CLOSES.pdf

April 15, 2025 – News Release
https://fibernetworksolutions.net/ewExternalFiles/News_Release_Wilmington_Trust_20250415.pdf

1. Why did Cogent fail to disclose the existence of an active federal whistleblower investigation prior to executing the $174.4 million securitization transaction?

2. Did Cogent's Board review or investigate the legal notices before approving the transaction?

3. Why has Cogent's Chief Legal Officer remained silent after acknowledging receipt of the notices?

4. What internal compliance procedures were triggered when the notices were received?

5. Why was Cogent's 2003 acquisition of Fiber Network Solutions absent from its S-1 IPO filing and subsequent SEC disclosures?

6. Why was the transaction buried in Exhibit 2.5 without supporting schedules or shareholder records?

7. Were whistleblower allegations disclosed to D&O insurance carriers or bond underwriters?

8. What communications occurred between Cogent and Wilmington Trust regarding the disclosures prior to closing?

9. Were any attempts made to delete or alter historical records related to the acquisition?

10. Has Cogent launched an internal investigation into the allegations?

11. Why did Cogent's leadership choose silence rather than engage in dialogue following the whistleblower disclosures?

"This $174.4 million IPv4 securitization was buried deep in the exhibits of an 8-K—no press release, no investor advisory, no public acknowledgment. It mirrors exactly how they concealed the Fiber Network Solutions acquisition in 2003."

— David J. Koch

"The cover-up is now the crime."

— Whistleblower Representative

All documents and disclosures are available at:

https://FiberNetworkSolutions.net

MEDIA CONTACT

[email protected]
(614) 364-4085 (Kindly Text or Email First)

###

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250416.pdf .

Document Type: Memorandum

Date: April 18, 2025

Author: David J. Koch

Recipient: Board of Directors, Wilmington Trust, N.A.

Subject Matter: Cogent Communications IPv4 securitization; whistleblower disclosures; fiduciary responsibilities

Related Entities: Cogent Communications Holdings, Inc. (NASDAQ: CCOI); Fiber Network Solutions, Inc. (FNSI); Wilmington Trust

Referenced Agencies: DOJ; FBI; SEC; IRS-CI; FINRA

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

MEMORANDUM TO THE BOARD OF DIRECTORS
Wilmington Trust, N.A.

Date: April 18, 2025

Re: Formal notice regarding Cogent Communications Holdings, Inc. IPv4 securitization

From: David J. Koch
Federal whistleblower – case involving Cogent Communications (NASDAQ: CCOI)

To the Members of the Wilmington Trust Board of Directors:

This memorandum provides formal legal and ethical notice regarding a material transaction your institution executed on April 11, 2025—the $174.4 million IPv4 securitization with Cogent Communications Holdings, Inc.

That transaction was finalized despite the existence of formal legal notices and whistleblower disclosures identifying active federal investigations tied to Cogent's concealed acquisition of Fiber Network Solutions, Inc. (FNSI).

The FNSI transaction was never properly disclosed to the Securities and Exchange Commission and occurred during a period of documented medical incapacitation of the company's co-founder and CEO.

This memorandum is provided to ensure the facts are known and that the fiduciary responsibilities of Wilmington Trust's board are preserved in the record.

I was the co-founder, President, CEO, and Chairman of Fiber Network Solutions, Inc., a Tier-1 Internet backbone based in Ohio with over $10 million in annual revenue and unqualified audit opinions from KPMG.

In early 2003, while I was incapacitated due to severe illness, I was unlawfully divested of control of my company along with my 1.2 million shares.

Rather than a legitimate corporate acquisition, a deliberate financial fraud was orchestrated among multiple individuals ensuring that insiders extracted company value while bypassing rightful shareholder entitlements.

Rather than a standard stock transaction, the event was structured as an "asset sale," nullifying my ownership and redirecting financial benefits through undisclosed mechanisms under the belief that I would not survive my medical condition to uncover the activity.

Rather than disclose this origin, Cogent omitted any reference to FNSI in its 2004 IPO registration. The transaction was buried in an unindexed exhibit categorized as "miscellaneous assets," with no board minutes, ownership schedules, or voting records. All schedules to Exhibit 2.5 were omitted.

That omission became foundational to the company that later executed the IPv4 securitization now in Wilmington Trust's portfolio.

The securitization executed by Wilmington Trust in April 2025 was collateralized in part on infrastructure and revenues tied directly to Cogent's operational history—history rooted in FNSI's intellectual property, proprietary systems, trade secrets, and customer base.

Despite having received four legal notices between March 14 and March 19, 2025, Cogent made no disclosure of the whistleblower investigation in its offering memorandum or related investor materials.

Cogent acknowledged receipt of legal notices in writing but proceeded with the transaction without disclosure and did not notify Wilmington Trust or institutional counterparties of the underlying legal risks.

The transaction closed on April 11, 2025. These facts are now part of the documented timeline.

March 14–19, 2025 — Four legal notices delivered to Cogent executives and counsel.
March 19, 2025 — Written acknowledgment from Cogent's Chief Legal Officer.
April 5, 2025 — Memorandum issued to Cogent's Board of Directors.
April 11, 2025 — Wilmington Trust finalizes $174.4M securitization.
April 14–15, 2025 — Public news releases issued disclosing federal whistleblower activity.
April 17, 2025 — Additional memorandum delivered to Cogent's board.
April 18, 2025 — This memorandum delivered to Wilmington Trust's board.

This matter extends beyond legal exposure. At its core is an ethical question: what responsibility does a financial institution carry when it monetizes a transaction rooted in the erasure of a medically incapacitated founder?

A transaction was structured to disappear from the record. Shares were nullified, roles erased, and the company absorbed. Decades later, assets rooted in that company were securitized and sold without disclosure of that origin.

When the founder did not die as expected, the original act became a twenty-two-year criminal cover-up.

Subsequent acts of suppression, obstruction, and concealment have reset the statute of limitations under federal law including:

Klehr v. A.O. Smith Corp. (1997)
Merck & Co. v. Reynolds (2010)
United States v. Smith (1984)
United States v. Arnold (1997)
United States v. Levine (1972)
Toussie v. United States (1970)

Now, the financial instrument derived from that history resides within Wilmington Trust's portfolio.

Formal whistleblower filings have been submitted to the Department of Justice, the Federal Bureau of Investigation, the Securities and Exchange Commission, the IRS Criminal Investigation Division, and the Financial Industry Regulatory Authority.

The statute of limitations has been reset to March 6, 2025 based on newly surfaced evidence and continuing acts of concealment.

Cogent's written acknowledgement of prior legal notices is preserved in the evidentiary record.

A 147-page whistleblower report containing supporting documentation has been submitted to federal authorities. Portions of the evidence are available at:

https://FiberNetworkSolutions.net

Your institution's role now appears within the documented chronology of disclosures and transactions.

This memorandum does not accuse Wilmington Trust or assign guilt. It simply places the board on notice and preserves the integrity of the governance record.

As trustees, the board may choose to open an internal inquiry, notify counterparties or insurers, seek clarification from Cogent, or take no action.

Whatever decision is made, the institution is now on formal record as having been informed.

This was not simply a securitization.

It was the conversion of a concealed and now documented twenty-two-year criminal history into tradable securities.

You now hold the paper.
You now hold the truth.

Respectfully,

David J. Koch
Federal Whistleblower
[email protected]
(614) 364-4085

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/Memo_Wilmington_Board20250418.pdf .

Document Type: Memorandum

Date: April 18, 2025

Author: David J. Koch

Recipient: Board of Directors, M&T Bank Corporation

Subject Matter: Cogent Communications IPv4 securitization; fiduciary notice; whistleblower disclosures

Related Entities: Cogent Communications Holdings, Inc. (NASDAQ: CCOI); Fiber Network Solutions, Inc. (FNSI); Wilmington Trust, N.A.; M&T Bank Corporation

Referenced Agencies: DOJ; FBI; SEC; IRS-CI; FINRA

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

MEMORANDUM TO THE BOARD OF DIRECTORS
M&T Bank Corporation

Date: April 18, 2025

Re: Formal notice regarding Cogent Communications Holdings, Inc. IPv4 securitization executed by Wilmington Trust, N.A.

From: David J. Koch
Federal whistleblower – case involving Cogent Communications (NASDAQ: CCOI)

To the Members of the M&T Bank Corporation Board of Directors:

This memorandum provides formal legal and ethical notice regarding a material transaction executed on April 11, 2025 by your wholly owned subsidiary, Wilmington Trust, N.A.—the $174.4 million IPv4 securitization with Cogent Communications Holdings, Inc.

That transaction was finalized despite the existence of formal legal notices and whistleblower disclosures detailing Cogent's concealed acquisition of Fiber Network Solutions, Inc. (FNSI) and the existence of active federal investigations.

This memorandum is submitted to preserve the record of M&T's potential institutional exposure, to notify your board of the underlying facts, and to invite corrective governance responses before further public and regulatory scrutiny unfolds.

I was the co-founder, President, CEO, and Chairman of Fiber Network Solutions, Inc., a Tier-1 Internet backbone based in Ohio with more than $10 million in annual revenue and unqualified audit opinions from KPMG.

In early 2003, while I was incapacitated due to severe illness, I was forcibly and unlawfully divested of control of my company and my 1.2 million shares.

Rather than a lawful acquisition, a financial conspiracy was executed involving individuals later tied to Cogent's formation. The transaction:

• Occurred while the co-founder was medically incapacitated and not expected to survive.
• Was structured as an asset sale that nullified shareholder equity and bypassed disclosure.
• Was buried in Exhibit 2.5 of Cogent's S-1 registration statement, categorized as "miscellaneous assets" without ownership schedules or board records.

This concealed event became the operational foundation of Cogent Communications. The company's infrastructure, client base, and operating model derive directly from FNSI's assets.

Wilmington Trust finalized the IPv4 securitization on April 11, 2025 despite Cogent having received four legal notices between March 14 and March 19, 2025.

Those notices disclosed the existence of federal investigations involving the Department of Justice, the Securities and Exchange Commission, the Federal Bureau of Investigation, IRS Criminal Investigation, and FINRA.

Cogent acknowledged receipt in writing but made no disclosure to Wilmington Trust, institutional investors, or in its offering materials.

There was no reference to whistleblower disclosures, no reference to Cogent's origin in the FNSI transaction, and no transparency regarding legal risks.

Wilmington Trust executed the transaction without awareness that the collateralized assets trace back to a concealed corporate history now under investigation.

M&T's ownership of Wilmington Trust places the parent company on formal record as a fiduciary institution with oversight responsibility for this exposure.

March 14–19, 2025 — Four legal notices delivered to Cogent leadership and legal counsel.
March 19, 2025 — Written acknowledgment from Cogent's Chief Legal Officer.
April 5, 2025 — Memorandum sent to Cogent's Board of Directors.
April 11, 2025 — IPv4 securitization closed by Wilmington Trust.
April 14–15, 2025 — Public news releases issued disclosing the matter.
April 17–18, 2025 — Memoranda sent to Cogent's board and Wilmington Trust's board.
April 20, 2025 — This memorandum delivered to M&T Bank Corporation's board.

While M&T's direct involvement may appear indirect, its institutional responsibility is not.

Your subsidiary monetized assets born of concealment while formal whistleblower notices and legal warnings were active.

The founder of FNSI was presumed too ill to survive. His company was stripped, his ownership erased, and his role removed from the corporate record.

When the founder did not die as expected, the concealment continued, evolving into a twenty-two-year coordinated effort to hide the origin of Cogent's business model.

Seven acts of concealment and retaliation since December 2023 have reset the statute of limitations to March 6, 2025 under controlling federal precedent, including:

Klehr v. A.O. Smith Corp. (1997)
Merck & Co. v. Reynolds (2010)
United States v. Smith (1984)
United States v. Arnold (1997)
United States v. Levine (1972)
Toussie v. United States (1970)

You now hold legal and reputational exposure as the corporate parent of the indenture trustee that securitized these assets.

Whistleblower submissions are currently on file with the following agencies:

U.S. Department of Justice (DOJ)
Federal Bureau of Investigation (FBI)
Securities and Exchange Commission – Office of the Whistleblower
Internal Revenue Service – Criminal Investigation Division
Financial Industry Regulatory Authority (FINRA)

The statute of limitations has been reset. Cogent's written acknowledgment of notice is preserved within the evidentiary record.

A 147-page investigative report is on file with federal authorities. Public evidence and related news releases are available at:

https://FiberNetworkSolutions.net

This memorandum does not allege misconduct by M&T Bank. It ensures that your board is now fully informed and able to act independently.

Possible responses include initiating a parent-level review of the transaction, conferring with Wilmington Trust's board or compliance team, notifying institutional clients or insurers, or taking no action.

Whatever the decision, the institution is now formally on record as having been informed.

This was not simply a securitization.

It was the conversion of a concealed and now documented twenty-two-year criminal history into tradable securities.

You now hold the paper.
You now hold the truth.

Respectfully,

David J. Koch
Federal Whistleblower
[email protected]
(614) 364-4085

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/Memo_MT_Board20250418.pdf .

Document Type: News Release

Date: April 21, 2025

Primary Parties: Fiber Network Solutions, Inc.; Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Related Institutions: Wilmington Trust, N.A.; M&T Bank Corporation

Key Individuals Referenced: David J. Koch; Dave Schaeffer; John Chang; Kyle Bacon

Subject Matter: IPv4 securitization; whistleblower disclosures; corporate governance and disclosure obligations

Referenced Agencies: DOJ; FBI; SEC; IRS-CI; FINRA

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: April 21, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — April 21, 2025 — Following a series of whistleblower disclosures, formal legal notices, and public releases issued in March and April, three major institutions are now officially on record in connection with a $174.4 million IPv4 securitization transaction executed by Cogent Communications Holdings, Inc. (NASDAQ: CCOI).

The transaction was finalized on April 11, 2025 with Wilmington Trust acting as indenture trustee and M&T Bank Corporation serving as the parent entity of the trustee.

The transaction occurred despite multiple legal warnings that Cogent's corporate foundation traces back to a concealed acquisition of Fiber Network Solutions, Inc. (FNSI) in 2003.

FNSI's co-founder, president, CEO, and chairman, David J. Koch, alleges that he was medically incapacitated at the time of the transaction and was divested of control of the company along with his 1.2 million shares.

Rather than a conventional stock acquisition, the transaction was structured as an asset sale and recorded within an unindexed exhibit in Cogent's 2004 S-1 registration statement.

The transaction appears in Exhibit 2.5 categorized as "miscellaneous assets," without shareholder schedules, board minutes, or governance documentation.

SEC source:
https://www.sec.gov/Archives/edgar/data/1158324/000104746903011242/a2106111zex-2_5.htm

By April 18, 2025, formal memorandums had been delivered to the boards of Cogent Communications, Wilmington Trust, and M&T Bank Corporation.

Each memorandum placed the respective boards on legal and ethical record regarding the securitization transaction and the whistleblower disclosures.

The memorandums summarized the following timeline of disclosures:

March 14–19, 2025 — Four legal notices delivered to Cogent executives and legal counsel.
March 19, 2025 — Receipt acknowledged by Cogent's Chief Legal Officer.
April 5, 2025 — Memorandum delivered to Cogent's board.
April 11, 2025 — IPv4 securitization finalized with Wilmington Trust as trustee.
April 14–15, 2025 — Public news releases issued describing the whistleblower disclosures.
April 18, 2025 — Memorandums delivered to Wilmington Trust and M&T Bank boards.

Between March 14 and March 19, Cogent leadership received four separate notices detailing alleged misconduct related to the FNSI acquisition.

The notices described the whistleblower's submissions to federal authorities and offered an opportunity for dialogue.

"You should not expect responses to your future correspondence. We will reply if and when we believe a reply is warranted."

— John Chang, Chief Legal Officer, March 19, 2025

The March 19 message acknowledged receipt of the notices but declined further discussion.

Observers note that this response placed Cogent on formal notice while simultaneously rejecting engagement with the whistleblower disclosures.

Following publication of the disclosures, Cloudflare security logs recorded multiple visits from Cogent's corporate network.

Records indicate that systems associated with Cogent Communications accessed whistleblower disclosures and related materials hosted on the FiberNetworkSolutions website.

The accessed materials included legal notices, audio recordings, and documentary evidence relating to the FNSI acquisition.

Audio recordings attributed to Kyle Bacon describe the operational model used to transform Cogent's early data centers after the acquisition of FNSI.

According to the recording, FNSI's colocation and sales model was deployed to convert underperforming facilities into profitable operations within approximately nine months.

These statements are presented as evidence supporting the claim that FNSI's operational systems formed the foundation of Cogent's later business model.

Audio excerpts and related materials are available at:

https://FiberNetworkSolutions.net/news.html

The securitization transaction placed Wilmington Trust and M&T Bank in positions connected to financial instruments backed by assets originating from Cogent's operational history.

Following the disclosures, both boards now appear within the documented timeline of whistleblower communications and institutional responses.

Observers note that the institutions must determine how to respond to the information now placed on record.

Supporting documentation, recordings, legal notices, and additional materials are available at:

https://FiberNetworkSolutions.net

MEDIA CONTACT

David J. Koch
Federal Whistleblower – FNSI Fraud Case
[email protected]
(614) 364-4085 (Kindly Text or Email First)

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250421.pdf .

What this document is about: This news release focuses on Exhibit 2.5 in Cogent Communications' original SEC S-1 filing and the omitted schedules referenced within that exhibit. The document outlines why those omitted schedules could reveal the economic structure of the February 26, 2003 acquisition of Fiber Network Solutions, Inc. (FNSI), including who received payments, what liabilities were transferred, and how assets were allocated. The release also raises questions about the proxy used during the transaction and discusses financial signals, including Cogent's dividend payout ratio, as part of the broader context surrounding the whistleblower disclosures.

Document Type: News Release

Date: April 23, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Kyle Bacon; William J. Kelly; Dave Schaeffer

Subject Matter: Exhibit 2.5 schedules; SEC disclosure practices; corporate governance questions related to the 2003 FNSI acquisition

Referenced Agencies: FBI; IRS-Criminal Investigation; U.S. Securities and Exchange Commission

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: April 23, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — April 23, 2025 — In February 2003, Cogent Communications completed its acquisition of Fiber Network Solutions, Inc. (FNSI) through an "asset purchase" structure. But a single embedded document—Exhibit 2.5 of Cogent's S-1 SEC filing—may hold the key to what whistleblowers now describe as a 22-year corporate cover-up.

New evidence of post-transaction misconduct has reset the federal statute of limitations to March 2025, bringing the concealed details of this acquisition back into sharp legal focus.

Now widely regarded as the most dangerous page in Cogent's SEC history, Exhibit 2.5 references a series of critical schedules—all marked "omitted." These include:

• Schedule A: Assumed Contracts
• Schedule B: Assumed Liabilities
• Schedule C: Releases
• Schedule D: FNSI NOC Inventory Detail
• Attachment A1/B2: Customer Contracts
• Exhibit 1: Form of Option Agreement

These are the very documents that would have revealed who got paid, which liabilities were transferred, and how assets were reallocated.

"That's not normal. That's not a red flag. That's a six-lane freeway of fraud indicators. These are the schedules that would show who got paid, how much, what liabilities were shifted, and who signed off."

— David J. Koch

SEC source:
https://www.sec.gov/Archives/edgar/data/1158324/000104746903011242/a2106111zex-2_5.htm

At the time of the transaction, Koch was medically incapacitated. Newly recovered digital evidence confirms that the proxy used to approve the sale was authored by William J. Kelly, Esq.—an attorney who had been terminated by FNSI in 2000 and stripped of his stock options. Despite his termination, uncovered forensic evidence confirms that Kelly drafted the proxy that reassigned Koch's voting rights to Kyle Bacon just one day before the board meeting that approved the deal.

No formal press release or shareholder communication was ever issued regarding the transaction. The only reference appeared in a non-syndicated web post on Cogent's internal site quoting then-COO Kyle Bacon while omitting any mention of Koch, the company's founder, President, CEO, Chairman, and majority shareholder at the time of sale.

"You don't just forget the CEO," Koch says. "You erase him when you know he never would have approved the deal—and when you want to erase his 1.2 million shares."

1. Exhibit 2.5 concealed the most critical elements of the acquisition—who got paid, what liabilities were transferred, and who authorized the deal.

2. Cogent's dividend yield sits far above industry norms while exceeding the company's earnings.

With earnings of roughly $0.69 per share and an annual dividend of $1.005, Cogent is paying out more than 145% of its net income—an unusually high payout ratio that raises questions about sustainability.

"That's not a sustainable dividend," Koch says. "That's a smoke screen."

Taken together, these red flags suggest a company projecting financial confidence while material disclosure questions remain unresolved.

1. How much did Cogent pay for FNSI—and who received the proceeds?
2. Why were payment schedules, liability assumptions, and option agreements omitted from the SEC filing?
3. Who authorized a terminated attorney to draft the proxy of a medically incapacitated CEO?
4. Why was the acquisition excluded from post-transaction disclosures and investor communications?
5. Were intermediaries such as Ion Partners LLC used to distribute proceeds while concealing recipients?

More than two decades later, Exhibit 2.5 remains unexplained and uncorrected.

It now sits at the center of an expanding federal whistleblower investigation involving the FBI, IRS-Criminal Investigation, and the U.S. Securities and Exchange Commission.

• FBI whistleblower report
• Audio recordings of Kyle Bacon discussing post-sale use of FNSI assets
• Metadata audit confirming authorship of the proxy document
• Cloudflare logs documenting access from Cogent's ASN 174 network

MEDIA CONTACT

David J. Koch
Federal Whistleblower – FNSI Fraud Case
[email protected]
(614) 364-4085 (Kindly text or email first)

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250423.pdf

What this document is about: This letter serves as a formal final notice delivered to Cogent Communications Holdings, Inc.'s Investor Relations Department with instructions that the disclosure be transmitted directly to every member of the company's Board of Directors. The notice summarizes the existence of a federal whistleblower report exceeding 160 pages, outlines alleged criminal conduct connected to the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI), and describes the potential exposure of corporate officers and directors under federal whistleblower statutes. The letter also references restitution considerations under DOJ and SEC enforcement policies.

Document Type: Formal Board Notice

Date: April 30, 2025

Primary Parties: David J. Koch; Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Kyle Bacon; John Chang

Subject Matter: Federal whistleblower report; corporate governance obligations; board-level disclosure of alleged misconduct involving the 2003 FNSI acquisition

Referenced Agencies: U.S. Attorney's Office (Southern District of Ohio); FBI; SEC; IRS-Criminal Investigation

Relevant Statutes: 18 U.S.C. §1513(e); 18 U.S.C. §1514A; 15 U.S.C. §78u-6; 26 U.S.C. §7623

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

David J. Koch
Federal Whistleblower
502 W. Montgomery Street
PMB 578
Willis, Texas 77378

April 30, 2025

VIA ELECTRONIC MAIL
[email protected]
[email protected]
[email protected]

Investor Relations Department
Cogent Communications Holdings, Inc.
2450 N Street NW, 4th Floor
Washington, D.C. 20037

Re: Mandatory Board Distribution – Final Notice – Criminal Allegations Involving FNSI Acquisition and Current Cogent Directors and Officers

A formal Federal Whistleblower Report—now expanded to more than 160 pages and updated with the United States Attorney's Office for the Southern District of Ohio, Columbus Division—implicates both current and former officers and members of Cogent Communications Holdings, Inc.'s Board of Directors. It documents criminal predicate acts related to the fraudulent acquisition of Fiber Network Solutions, Inc. ("FNSI") and traces their concealment and continuation through April 2025.

Although the full report was previously offered to Cogent, it was summarily rejected.

The publication now available at:
https://FiberNetworkSolutions.net/the-fraud.html

—titled "THE FRAUD"—does not constitute the full report. Rather, it is a narrowed public disclosure designed to provide Cogent's Board and affiliated fiduciaries with one final opportunity to address the matter before the full weight of federal enforcement, civil litigation, and reputational scrutiny follows. The contents of the page are sufficient to establish the scope of institutional and individual exposure.

As I clearly stated in my March 17, 2025 email to Cogent:

"At this stage, the distinction between those who were misled and those who are complicit will be determined by actions taken now. The report and supporting evidence will be shared with those who have a rightful stake in resolving this matter once it is clear where each party stands."

We now know where certain officers stand. The full report is no longer available to Cogent.

You are now formally instructed to transmit this disclosure to each individual member of Cogent's Board of Directors. Generalized summaries, withheld material facts, or sanitized internal briefings do not satisfy Delaware fiduciary or federal statutory duties. Every director must receive direct access to the original publication to ensure full awareness of their exposure.

This matter is governed by federal whistleblower statutes, including:

• 18 U.S.C. §1513(e) – Retaliation Against a Whistleblower
• 18 U.S.C. §1514A – Sarbanes-Oxley Whistleblower Protection
• 15 U.S.C. §78u-6 – Dodd-Frank SEC Whistleblower Program
• 26 U.S.C. §7623 – IRS Whistleblower Law

Corporate restitution remains a recognized enforcement mitigation factor under both SEC and DOJ guidelines.

SEC Enforcement Manual §6.1.2 notes that prompt remedial actions, including compensation to harmed investors, can weigh heavily in favor of declining to pursue charges or reducing sanctions.

DOJ Justice Manual §9-28.900 states that a corporation's willingness to identify wrongdoers and make victims whole may influence charging decisions and recommended sanctions.

Relevant precedents include:

• Credit Suisse (2021) – $475 million restitution with favorable deferred prosecution agreement terms
• Siemens AG (2008) – $350 million restitution credited for cooperation despite systemic violations

Between March 14 and March 19, 2025, Cogent was given six formal opportunities to resolve this matter confidentially and constructively. Those overtures were ignored or dismissed. Cogent's Chief Legal Officer labeled the allegations "frivolous" and affirmed that no engagement would occur.

Let me now be equally clear.

As I told Kyle Bacon on March 7, 2025:

"Frankly, I have no preference regarding your decision. If you want to loathe the day, that is your choice. This has been a 22-year-long project. I now know everything. I will be compensated either way. The only question is how much legal and financial scrutiny you are willing to endure and how many others may face exposure if you delay further."

Kyle made his decision. He will likely spend decades in federal prison—along with others who may now face similar exposure because he chose to delay.

Now it is your choice. And just as before, I will be compensated—either through resolution or following prosecution.

You are now on formal record.

Any continued failure to act will be treated as willful complicity.

Sincerely,

David J. Koch
Federal Whistleblower

cc: Board of Directors – Wilmington Trust / M&T Bank
[email protected] / [email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/Cogent_Board20250430.pdf

What this document is about: This news release raises questions regarding Cogent Communications Holdings, Inc.'s 2003 acquisition of Fiber Network Solutions, Inc. (FNSI). The release highlights alleged omissions related to Exhibit 2.5 of Cogent's S-1 registration statement and discusses governance, disclosure, and financial issues that analysts and regulators may examine during the company's upcoming earnings call. The document also references whistleblower submissions that have been provided to federal agencies and outlines questions directed toward Cogent's leadership and board.

Document Type: News Release

Date: May 5, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; Kyle Bacon; William J. Kelly

Subject Matter: Exhibit 2.5 disclosure issues; corporate governance questions surrounding the 2003 FNSI acquisition; federal whistleblower submissions

Referenced Agencies: FBI; U.S. Securities and Exchange Commission; IRS-Criminal Investigation; U.S. Attorney's Office

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: May 5, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — May 5, 2025 — Just days before Cogent Communications Holdings, Inc. (NASDAQ: CCOI) hosts its Q1 2025 earnings call, federal whistleblower David J. Koch has released new documentation raising questions about the company's 2003 acquisition of Fiber Network Solutions, Inc. (FNSI).

A 160-page whistleblower report — now under review by the U.S. Attorney — identifies current and former officers, board members, and legal counsel connected to the transaction and outlines alleged misconduct and concealment extending over more than two decades.

As Cogent prepares to announce its Q1 2025 earnings on May 8, one of its earliest acquisitions is again drawing attention from analysts, investors, and regulators.

David J. Koch, former CEO and co-founder of Fiber Network Solutions, Inc., is urging analysts and investors to examine Exhibit 2.5 — an exhibit included in Cogent's S-1 registration statement that referenced the FNSI transaction.

"The acquisition of my company — twice recognized on the Inc. 500 list of America's fastest growing companies — took place while I was medically incapacitated. That was not a 'miscellaneous asset.'"

"If they try to ignore this on the earnings call, that's not caution — it's concealment," Koch stated.

According to the whistleblower materials, key schedules related to the acquisition — including payment terms, liability assumptions, and equity releases — were marked as omitted in the filing.

The proxy authorizing the transaction was reportedly drafted by attorney William J. Kelly, who had previously been terminated from FNSI.

Koch states that the proxy and Exhibit 2.5 together form the framework of the transaction that later supported Cogent's early operational expansion.

• Key financial schedules related to the FNSI acquisition were omitted from Cogent's SEC filings.
• The proxy authorizing the deal was reportedly drafted by a previously terminated attorney.
• No shareholder notices, fairness opinions, or syndicated press releases were issued regarding the acquisition.
• Multiple federal agencies are reviewing related whistleblower submissions.

Analysts and investors may wish to examine several questions related to the acquisition and the company's financial disclosures:

• Why were key financial schedules related to the FNSI acquisition omitted from Cogent's public filings?
• Why was the acquisition referenced only in an exhibit rather than disclosed in the main body of the S-1?
• Who received the proceeds of the transaction, and were those payments disclosed to shareholders?
• Was the acquisition independently valued or formally approved through standard governance procedures?

Additional governance and disclosure questions include whether shareholders or regulators were notified of the transaction at the time and why a terminated attorney was involved in preparing the proxy documentation.

The release also highlights Cogent's dividend policy. According to publicly available figures cited in the document, the company reported earnings of approximately $0.69 per share while paying a quarterly dividend of $1.005.

This level of dividend payout raises questions among some analysts about sustainability and whether the policy could expose the company to additional scrutiny if unresolved legal risks exist.

The release states that whistleblower submissions related to the matter have been provided to several federal agencies including the FBI, SEC, and IRS-Criminal Investigation.

It also references recorded statements attributed to individuals involved in the transaction and other documentation submitted as part of those whistleblower filings.

Cogent CEO Dave Schaeffer is scheduled to speak at investor conferences following the May 8 earnings call, including the J.P. Morgan Global Technology, Media & Communications Conference and the MoffettNathanson Media, Internet & Communications Conference.

Koch has encouraged analysts attending those events to ask questions about Exhibit 2.5, the FNSI acquisition, and related disclosures.

Supporting documentation referenced in the release includes:

• Audio recordings discussing the FNSI transaction
• Metadata analysis of proxy documentation
• Whistleblower submissions provided to federal agencies
• Server logs related to disclosure platforms

MEDIA CONTACT / SOURCE VERIFICATION

Federal Whistleblower – FNSI Fraud Disclosure Case
Email: [email protected]
Phone: (614) 364-4085 (Kindly text or email first)

David J. Koch has confirmed that he intends to attend Cogent's May 8, 2025 earnings call.

This release includes references to public records, regulatory filings, and whistleblower submissions provided to federal agencies. All individuals named are presumed innocent unless and until proven guilty in a court of law.

Statements herein reflect the firsthand knowledge and good-faith belief of whistleblower David J. Koch as of May 5, 2025, and may be updated as new information develops or investigations advance.

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250505-1.pdf

What this document is about: This news release reports that federal whistleblower David J. Koch was unable to participate in the public question-and-answer portion of Cogent Communications Holdings, Inc.'s Q1 2025 earnings call held on May 8, 2025. The document describes Koch's attempts to ask a question during the call, outlines the historical context of the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI), and references whistleblower submissions previously provided to federal authorities regarding the transaction.

Document Type: News Release

Date: May 12, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; Kyle C. Bacon; William J. Kelly

Subject Matter: Q1 2025 earnings call participation; disclosure questions related to the 2003 FNSI acquisition; whistleblower communications with federal agencies

Referenced Agencies: U.S. Securities and Exchange Commission; Federal Bureau of Investigation; IRS Criminal Investigation Division; U.S. Attorney's Office

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: May 12, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON D.C. — May 12, 2025 — David J. Koch, a federally acknowledged whistleblower in the investigation of Cogent Communications' 2003 acquisition of Fiber Network Solutions, Inc. (FNSI), reports that he was unable to participate in Cogent's Q1 2025 earnings call held on May 8, 2025.

Despite identifying himself at the beginning of the call and submitting multiple requests to ask a question, Koch states that he was not recognized during the public question-and-answer session.

Koch, the founder and majority shareholder of Fiber Network Solutions, Inc. (FNSI), has been involved in whistleblower submissions concerning Cogent's 2003 acquisition of the company.

According to the release, the acquisition occurred during a period when Koch was experiencing serious medical challenges. The transaction was executed through an asset purchase agreement referenced as Exhibit 2.5 in Cogent's S-1 registration statement.

The document states that the transaction involved a proxy prepared by attorney William J. Kelly, who had previously been terminated from FNSI. The proxy granted authority to Kyle C. Bacon during the period in which the transaction was approved.

The release describes Exhibit 2.5 as an unindexed exhibit in the S-1 filing and notes that associated schedules were omitted from the filing.

In March 2025, Koch began issuing formal notices and press releases requesting disclosure of the full terms of the 2003 transaction and the missing schedules referenced in the filing.

He also notified several federal agencies, including the SEC, FBI, IRS Criminal Investigation Division, and the U.S. Attorney's Office, regarding recent alleged predicate acts that he states affect the statute-of-limitations timeline.

The release notes that Koch sent four detailed notices to Cogent identifying himself as a whistleblower. According to the document, those notices were dismissed in writing by Cogent's Chief Legal Counsel.

Prior to the May 8 earnings call, Koch publicly stated that he intended to participate in the call.

At the start of the call, Koch reports that he introduced himself as:

"David Koch, spelled K-O-C-H, federal whistleblower in the Fiber Network Solutions investigation."

According to the release, the call operator acknowledged the statement and the automated system accepted multiple requests to ask a question. However, during the call, Koch states that he was not selected to participate.

Instead, questions were taken from institutional analysts representing investment banks including Goldman Sachs and Oppenheimer.

The company's responses were delivered by CEO Dave Schaeffer.

At the conclusion of the call, the operator stated that all questions had been answered.

Koch described the situation as an effort to prevent a whistleblower from raising questions during a public investor forum.

The earnings call followed Cogent's Q1 earnings announcement, which reported a quarterly loss while also announcing an increase in the company's dividend.

According to the release, the dividend increase resulted in a payout ratio exceeding 580 percent based on publicly reported figures.

Koch states that he is preparing a formal evidentiary memorandum documenting the events of the May 8 earnings call. The memorandum is expected to be submitted to the SEC, FBI, IRS Criminal Investigation Division, and the U.S. Attorney for the Southern District of Ohio.

Additional documentation referenced in the release is available through the Fiber Network Solutions archive and supporting whistleblower submissions.

MEDIA CONTACT

Whistleblower – FNSI Acquisition Review
Email: [email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250512.pdf

What this document is about: This news release addresses Cogent Communications Holdings, Inc.'s Q1 2025 Form 10-Q filing with the U.S. Securities and Exchange Commission and the continued absence of any reference to the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI). The document summarizes the whistleblower's position that the omission reflects an ongoing failure to disclose the circumstances surrounding the transaction and notes prior notices and communications sent to Cogent's executives and board.

Document Type: News Release

Date: May 13, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; John Chang; Kyle C. Bacon; William J. Kelly

Subject Matter: Cogent's Q1 2025 Form 10-Q filing; disclosure questions related to the 2003 FNSI acquisition; whistleblower notices sent to company leadership

Referenced Agencies: U.S. Securities and Exchange Commission; Federal Bureau of Investigation; IRS Criminal Investigation Division; U.S. Attorney's Office

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: May 13, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — May 13, 2025 — Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has filed its Q1 2025 Form 10-Q with the U.S. Securities and Exchange Commission but continues to omit any mention of the disputed 2003 acquisition of Fiber Network Solutions, Inc. (FNSI).

David J. Koch, the founder and former majority shareholder of Fiber Network Solutions, Inc., described the omission as "intentional and indefensible."

"The 2003 transaction resulted in the unlawful removal of more than one million shares I personally held. It relied on an unauthorized proxy, and the supporting agreement—Exhibit 2.5—was filed without its schedules."

Koch states that despite receiving multiple formal notices and federal whistleblower filings regarding the transaction, Cogent has not addressed the matter in its public disclosures.

At the time of the 2003 sale, Koch states that he was medically incapacitated. According to the release, a proxy was executed on his behalf by Kyle C. Bacon using documentation prepared by attorney William J. Kelly, who had previously been terminated from FNSI.

That proxy enabled approval of the sale of Fiber Network Solutions to Cogent.

The transaction was later referenced in Cogent's 2004 S-1 registration statement as "Exhibit 2.5." The document was filed as an unindexed exhibit, without its schedules, and the main body of the filing did not reference Fiber Network Solutions by name.

Between March and April 2025, Koch sent four formal legal notices to Cogent's executive leadership, including CEO Dave Schaeffer and Chief Legal Counsel John Chang, requesting that the company correct the public record regarding the transaction.

At least two memorandums were also delivered to Cogent's Board of Directors.

According to the release, Cogent acknowledged receipt of the notices but did not respond substantively.

"They received the notices. They acknowledged them. They chose silence," Koch said. "That silence suggests awareness of how damaging the truth could be."

On May 8, 2025, during Cogent's Q1 earnings call, Koch identified himself as a federal whistleblower and submitted sixteen requests to participate in the investor question-and-answer session.

Despite confirmation from the call system that his requests were accepted, Koch states that he was not recognized during the call.

Questions instead were taken from analysts representing firms such as Goldman Sachs and Oppenheimer.

Koch states that CEO Dave Schaeffer's responses appeared scripted and were delivered using prepared materials that included detailed financial figures.

Koch asserts that the continuing pattern of omission and silence reinforces the need for federal review.

He reports that complaints and supporting evidence have been submitted to the U.S. Securities and Exchange Commission, the Federal Bureau of Investigation, IRS Criminal Investigation Division, and the U.S. Attorney's Office for the Southern District of Ohio.

Ongoing disclosures, documentation, and supporting materials are maintained at:

https://FiberNetworkSolutions.net

MEDIA CONTACT

David J. Koch
Federal Whistleblower – FNSI Acquisition Review
[email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250513.pdf

What this document is about: This correspondence constitutes a formal legal demand directed to the independent directors, corporate secretary, and chief legal officer of Cogent Communications Holdings, Inc. The letter requests the immediate production of schedules and exhibits referenced but omitted from Exhibit 2.5 of Cogent's S-1 filing relating to the February 26, 2003 Asset Purchase Agreement involving Fiber Network Solutions, Inc. (FNSI). The demand outlines statutory disclosure obligations, references federal whistleblower protections, and identifies potential legal implications associated with the continued withholding of the referenced schedules.

Document Type: Formal Legal Demand Letter

Date: May 23, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; Kyle C. Bacon; William J. Kelly

Subject Matter: Demand for production of omitted schedules referenced in Exhibit 2.5 of Cogent's S-1 filing relating to the 2003 FNSI acquisition

Referenced Agencies: Internal Revenue Service – Criminal Investigation Division; U.S. Securities and Exchange Commission; Federal Aviation Administration; Federal Bureau of Investigation; U.S. Attorney for the Southern District of Ohio

Referenced Statutes: 17 C.F.R. §240.13b2-1; 17 C.F.R. §240.12b-20; 15 U.S.C. §78m(a); 18 U.S.C. §§1001, 1519, 371, 1512, 1505, 4; 18 U.S.C. §1962(d); 18 U.S.C. §1513(e)

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing, hyperlinks, and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

David J. Koch
Federal Whistleblower
502 W. Montgomery St Suite 578
Willis, Texas 77378
(614) 406-9766

May 23, 2025

VIA ELECTRONIC MAIL

LEGAL DEMAND LETTER – FORMAL REQUEST FOR CORPORATE DOCUMENTS – ACTION REQUIRED

All Independent Directors,
Corporate Secretary, and
Chief Legal Officer
(excluding Chairman Dave Schaeffer)
Cogent Communications Holdings, Inc.
2450 N Street NW
Washington, DC 20037

Subject: Formal Demand for Immediate Production of all Omitted Schedules Referenced in Exhibit 2.5 – Fiber Network Solutions, Inc. Asset Purchase Agreement

To the Board of Directors, Corporate Secretary and Legal Officers of Cogent Communications:

This legal demand is directed to the independent members of the Board of Directors, the Corporate Secretary, and the Chief Legal Officer in their fiduciary oversight capacities. Due to the prior formal notices issued to Mr. Dave Schaeffer and his potential legal exposure in this matter, he is expressly excluded from this communication and is not authorized to receive, interpret, respond to, or act upon this request in any capacity.

I write in my official capacity as President, CEO, and Chairman of the Board of Fiber Network Solutions, Inc. ("FNSI"), a currently active and duly registered Ohio corporation—and as a federally recognized whistleblower in multiple open and active case files. In these roles, I am the lawful custodian of all corporate records and instruments involving FNSI, including the Asset Purchase Agreement executed with Cogent Communications Holdings, Inc., dated February 26, 2003, and filed publicly in Cogent's S-1 registration statement as Exhibit 2.5.

Exhibit 2.5, as filed by Cogent with the Securities and Exchange Commission, explicitly states: "The following schedules and exhibits have been omitted from the electronic format of this document filed with the Securities and Exchange Commission." This language affirms the existence of a complete version of the Asset Purchase Agreement that includes all referenced schedules and exhibits—whether maintained in electronic or physical form.

Should Cogent now assert that the referenced schedules do not exist, such a claim would directly contradict the company's own SEC-filed representation and may constitute multiple violations of federal law.

Accordingly, this correspondence constitutes a formal legal demand for the following:

1. Full and unredacted production of all schedules and exhibits referenced as omitted in Exhibit 2.5;
2. All internal memoranda, valuation analyses, due diligence materials, or correspondence associated with the preparation, review, or redaction of those schedules;
3. The name and affiliated firm of any attorney or officer who authorized, reviewed, or approved the filing of Exhibit 2.5 in its redacted format.

Cogent's prior refusal to produce these materials—despite multiple lawful requests made under federal whistleblower protections—constitutes, on its face, evidence of obstruction, concealment, and material nondisclosure.

Formal whistleblower submissions referencing Exhibit 2.5 and the missing schedules are currently under review in open case files with federal agencies including:

• Internal Revenue Service – Criminal Investigation Division
• U.S. Securities and Exchange Commission
• Federal Aviation Administration
• Federal Bureau of Investigation
• U.S. Attorney for the Southern District of Ohio

Let me be unequivocally clear: this is not a civil dispute—it is a criminal matter. Any continued concealment, destruction, or selective withholding of these materials may constitute ongoing predicate acts under the Racketeer Influenced and Corrupt Organizations Act (RICO).

Furthermore, any form of retaliation or disregard toward a federally recognized whistleblower constitutes a serious federal offense. All prior notices, filings, and communications are protected under federal whistleblower statutes.

I remind you of a statement issued to your organization on March 17, 2025:

"Mistaking my diplomacy and willingness to pursue a civilized resolution for weakness would be a grave miscalculation. This is not an attempt to avoid confrontation—it is an opportunity to resolve this before it escalates beyond anyone's control."

That counsel was disregarded. It has now escalated beyond anyone's control.

This correspondence constitutes a lawful corporate demand issued by the named counterparty to the original transaction, the current executive authority of Fiber Network Solutions, Inc., and a federally recognized whistleblower.

Production of the requested materials is required within five (5) business days of the date of this notice. Failure to comply will result in additional formal citations of record.

Neither Cogent nor the recipients of this demand are engaged in a dispute with me personally. The matter concerns the factual record and the underlying transaction. The facts are no longer containable, and mitigation may now be the most prudent course.

Respectfully,

FIBER NETWORK SOLUTIONS, INC.
David J. Koch
Federal Whistleblower
President, CEO & Chairman

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/FNSI_Demand_Letter_05232025.pdf

What this document is about: This document is the written response from John Chang, Vice President and Chief Legal Officer of Cogent Communications Holdings, Inc., to the May 23, 2025 legal demand letter issued by Fiber Network Solutions, Inc. (FNSI). The reply addresses the request for production of the schedules referenced in Exhibit 2.5 of Cogent's S-1 filing relating to the 2003 acquisition of FNSI. In the email, Chang states that Cogent is not aware of misconduct and asserts that the requested documents will not be provided.

Document Type: Corporate Email Response

Date: May 23, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: John Chang; David J. Koch; Dave Schaeffer

Subject Matter: Response to demand for production of schedules referenced in Exhibit 2.5 of Cogent's S-1 filing relating to the February 26, 2003 FNSI Asset Purchase Agreement

Source Note: This HTML text is a web-formatted rendering of the original email document preserved in the FNSI–Cogent documentary archive. Paragraph spacing and formatting have been standardized for online readability while preserving the substance of the original correspondence.

From: Chang, John <[email protected]>
Subject: RE: Legal Demand – Formal Request for Exhibit 2.5 Schedules (FNSI Acquisition) – Response Required
Date: May 23, 2025 — 2:36 PM
To: David J. Koch, Federal Whistleblower

Mr. Koch:

I have received this message as well as your prior correspondence. As I have said previously, we are not aware of any misconduct by Cogent or its people. While we respect your right to raise your concerns, including with external regulators, we urge you to avoid further unwarranted harassment of members of our Board and others affiliated with Cogent.

With respect to your request for specific documents and information set out in your letter, you are not entitled to those materials and we are not obligated to provide those to you. Thank you in advance for your understanding.

John Chang
VP and Chief Legal Officer
Cogent Communications Holdings, Inc.

The above response references the May 23, 2025 legal demand transmitted earlier the same day by Fiber Network Solutions, Inc. to Cogent Communications' Board of Directors, Corporate Secretary, and Chief Legal Officer requesting production of the omitted schedules referenced in Exhibit 2.5 of Cogent's S-1 filing relating to the 2003 FNSI acquisition.

The email accompanying the demand letter stated that the correspondence formed part of the evidentiary record associated with whistleblower submissions previously provided to federal authorities including the Internal Revenue Service – Criminal Investigation Division, the U.S. Securities and Exchange Commission, the Federal Aviation Administration, the Federal Bureau of Investigation, and the U.S. Attorney for the Southern District of Ohio.

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/John_Change_Reply_to_05232025_Demand.pdf

What this document is about: This document is a formal legal response sent by David J. Koch to John Chang, Chief Legal Officer of Cogent Communications Holdings, Inc., following Chang's May 23, 2025 email declining to provide schedules referenced in Exhibit 2.5 of Cogent's S-1 filing. The response addresses whistleblower protections, corporate record entitlement, and alleged attempts to characterize protected disclosures as harassment. The correspondence asserts rights under federal whistleblower statutes and corporate record inspection doctrines relating to the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI).

Document Type: Legal Response Memorandum

Date: May 23, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; John Chang; Dave Schaeffer

Subject Matter: Response to refusal to produce schedules referenced in Exhibit 2.5 of Cogent's S-1 filing relating to the February 26, 2003 Asset Purchase Agreement for Fiber Network Solutions

Referenced Agencies: U.S. Securities and Exchange Commission – Office of the Whistleblower; Internal Revenue Service – Criminal Investigation Division; Federal Bureau of Investigation – Columbus Field Office Cyber Division; Federal Aviation Administration; U.S. Attorney for the Southern District of Ohio

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing and formatting have been standardized for readability and machine accessibility while preserving the substance of the original correspondence.

David J. Koch
502 W Montgomery St
PMB 578
Willis, Texas 77378

May 23, 2025

VIA ELECTRONIC MAIL

John Chang
Chief Legal Officer
The Board of Directors
Cogent Communications
2450 N St NW
Washington, DC 20037

Re: Legal Response to May 23, 2025 Email – Whistleblower Rights, Document Entitlement, and Cease-and-Desist Demand

Dear Mr. Chang:

This will serve as a formal reply to your May 23, 2025 email, in which you acknowledge receipt of my prior whistleblower communications, including those dated May 16 and May 23, 2025. Your message has now established a clear record of corporate awareness of federal whistleblower disclosures, as well as your personal awareness of the legal demands therein.

Your statement that I am "not entitled to those materials" and your characterization of protected whistleblower communications as "harassment" constitute an attempt to intimidate, obstruct, and suppress a federally protected individual who has submitted evidence under active review by the following agencies:

• U.S. Securities and Exchange Commission – Office of the Whistleblower – Active Case
• Internal Revenue Service – Criminal Investigation Division – Active Case
• Federal Bureau of Investigation – Columbus Field Office, Cyber Division – Active Case
• Federal Aviation Administration – Active Case
• U.S. Attorney for the Southern District of Ohio – Active Case

I remind you that under 18 U.S.C. §1513(e), retaliation, harassment, or intimidation of a federal whistleblower—including through legal threat, reputational harm, or communication suppression—constitutes a federal crime.

Furthermore, your refusal to provide omitted schedules from Exhibit 2.5 of the 2003 Asset Purchase Agreement, a document referenced in public SEC filings and tied to ongoing concealment allegations, may violate federal securities law, including:

• 17 C.F.R. §240.13b2-1 – falsification of books and records
• 17 C.F.R. §240.12b-20 – failure to disclose material facts necessary to make statements not misleading

Under Delaware General Corporation Law §220 and governing fiduciary precedent (Saito v. McKesson HBOC, Inc.), I maintain a right as a former shareholder and original officer of Fiber Network Solutions, Inc. to inspect corporate records related to the FNSI transaction.

Your use of the phrase "not obligated to provide those to you" in the context of a federal whistleblower demand is likely to be construed by federal investigators as conscious concealment, particularly in light of Cogent's failure to acknowledge or open more than thirty legally sent, tracked notices.

You are hereby instructed to CEASE AND DESIST from:

• Any further attempts to frame whistleblower activity as harassment, retaliation, or bad faith.
• Any internal directive, IT filter, or legal instruction designed to suppress review or delivery of protected communications to the Board of Directors.
• Any further obstruction or refusal to produce the materials identified in Exhibit 2.5 or related documents tied to the acquisition of Fiber Network Solutions, Inc.

This email is being retained as evidence and will be added to the federal record and public disclosure log.

YOU ARE NOW PERSONALLY ON RECORD AND UNDER DIRECT NOTICE.

Your continued mischaracterization, suppression, or inaction will be treated accordingly.

Sincerely,

David J. Koch
Federal Whistleblower
President, CEO, Chairman
Fiber Network Solutions, Inc.
[email protected]
(614) 406-9766

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/Legal_Response_John_Chang_20250523.pdf

What this document is about: This document is a formal legal demand issued by Fiber Network Solutions, Inc. President and federal whistleblower David J. Koch to the Board of Directors, Corporate Secretary, and Chief Legal Officer of Cogent Communications Holdings, Inc. The letter demands immediate production of the schedules omitted from Exhibit 2.5 of the 2003 Asset Purchase Agreement between Cogent Communications and Fiber Network Solutions, Inc. (FNSI). The correspondence asserts that these schedules and related records are material to ongoing federal investigations involving the SEC, IRS Criminal Investigation Division, FBI, FAA, and the U.S. Attorney's Office for the Southern District of Ohio.

Document Type: Formal Legal Demand Letter

Date: May 27, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; John Chang; Dave Schaeffer; Kyle C. Bacon; Craig Housley; Inga Housley

Subject Matter: Demand for production of schedules referenced in Exhibit 2.5 of Cogent's S-1 filing relating to the February 26, 2003 Asset Purchase Agreement for Fiber Network Solutions

Referenced Agencies: U.S. Securities and Exchange Commission; Internal Revenue Service – Criminal Investigation Division; Federal Bureau of Investigation; Federal Aviation Administration; U.S. Attorney for the Southern District of Ohio

Source Note: This HTML text is a web-formatted rendering of the original PDF document preserved in the FNSI–Cogent documentary archive. Paragraph spacing and formatting have been standardized for online readability while preserving the substance of the original correspondence.

David J. Koch
Federal Whistleblower
President & CEO
Fiber Network Solutions, Inc.
502 W Montgomery St
PMB 578
Willis, TX 77378

May 27, 2025

VIA ELECTRONIC MAIL

Board of Directors
Corporate Secretary
Chief Legal Officer
Cogent Communications Holdings, Inc.
2450 N Street NW
Washington, D.C. 20037

RE: Formal Demand for Production of Omitted Schedules to Exhibit 2.5 and All Related Documents

To the Board of Directors, Corporate Secretary, and Chief Legal Officer:

This letter constitutes a formal and legally protected demand for the immediate production of critical documents unlawfully withheld from the undersigned federal whistleblower—specifically, the schedules omitted from Exhibit 2.5 of the 2003 Asset Purchase Agreement between Cogent Communications and Fiber Network Solutions, Inc. ("FNSI"). These schedules are no longer subject to discretionary withholding given their relevance to active federal investigations.

These materials have been explicitly referenced in SEC filings and are now central to multiple active federal investigations. Their continued concealment is inconsistent with federal disclosure laws and violates the statutory rights afforded to protected whistleblowers under United States law.

In 2003, Cogent Communications downplayed its acquisition of Fiber Network Solutions, Inc. so thoroughly that the transaction was not even identified by name in its S-1 SEC registration statement. Instead, it was buried in a broad category of unindexed "miscellaneous asset purchases," deemed immaterial and excluded from shareholder disclosure, external communications, syndicated press releases, and regulatory attention.

However, in 2025 that same acquisition—specifically the schedules omitted from Exhibit 2.5—has become the most closely guarded and aggressively concealed set of documents in Cogent Communications' corporate history.

If the FNSI acquisition was truly insignificant, why is Cogent Communications now taking extraordinary steps—and exposing its Board of Directors to potential criminal liability—to prevent the release of documents tied to that transaction?

The continued silence and refusal by Cogent Communications, its officers, and board members to release the schedules speaks louder than any press statement. These documents are now central to ongoing regulatory and criminal investigations.

You are hereby directed to transmit complete, unaltered scanned copies of the omitted schedules to Exhibit 2.5 to [email protected] no later than 5:00 PM Eastern Time on Tuesday, May 27, 2025. This deadline is firm, immediate, and non-negotiable.

Failure to comply will be deemed a knowing and willful act of obstruction in violation of federal law, including 18 U.S.C. §1505 (obstruction of agency proceedings) and 18 U.S.C. §1512 (tampering with a witness or informant or concealment of documents). It may further constitute retaliation against a federal whistleblower under 18 U.S.C. §1513(e).

You are further directed to produce within 48 hours the following categories of records:

• All versions—draft or final—of the omitted schedules to Exhibit 2.5
• All internal or external communications referencing the schedules or their omission
• All board or executive meeting minutes discussing Exhibit 2.5 or the FNSI acquisition
• Identification of all individuals involved in drafting, reviewing, approving, or omitting the schedules
• Materials reflecting Cogent's internal regulatory posture or compliance discussions concerning the schedules
• Records involving communication between Cogent and Kyle C. Bacon, Craig Housley, or Inga Housley from December 2023 to present
• Strategy documents concerning the handling or withholding of the schedules

This demand is issued under the protection of federal law, including:

• 18 U.S.C. §1513(e) – Retaliation against a federal whistleblower
• 18 U.S.C. §§1503, 1505, and 1512 – Obstruction of justice and evidence concealment
• The Sarbanes-Oxley Act (15 U.S.C. §78u-6(h)) – Whistleblower protections relating to securities law violations
• SEC Rule 17 C.F.R. §240.12b-20 – Requirement to disclose material facts
• The Whistleblower Protection Act (5 U.S.C. §2302(b)(8))
• The First Amendment to the United States Constitution

The continued refusal to produce these materials after confirming their existence may toll or reset statutes of limitations under federal racketeering law and expose participants to renewed liability under 18 U.S.C. §1962(d).

You are now formally on record. This request is being monitored by multiple federal agencies. Any delay, suppression, or retaliatory conduct will be treated as continuation of the underlying conspiracy and may increase criminal exposure under federal statutes governing obstruction of justice and racketeering.

Respectfully,

David J. Koch
Federal Whistleblower
President & CEO, Fiber Network Solutions, Inc.
(614) 406-9766
[email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/20250527_Demand-for_Schedules.pdf

What this document is about: This news release describes federal whistleblower submissions alleging that Cogent Communications Holdings, Inc. built its colocation business through the concealed 2003 acquisition of Fiber Network Solutions, Inc. (FNSI). The release summarizes the whistleblower's position that Cogent officers and directors engaged in a long-running effort to conceal the transaction and the omitted schedules to Exhibit 2.5 of the company's S-1 registration statement. It also outlines the timeline of legal notices sent to Cogent leadership and discusses insider stock sales by CEO Dave Schaeffer during the period of escalating disclosures.

Document Type: News Release

Date: May 29, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; John Chang; Kyle C. Bacon; Craig Housley; Inga Housley

Subject Matter: Allegations that Cogent Communications concealed details of the 2003 FNSI acquisition and continues to withhold schedules referenced in Exhibit 2.5 of its SEC filings

Referenced Agencies: U.S. Securities and Exchange Commission; Internal Revenue Service – Criminal Investigation Division; Federal Bureau of Investigation; Federal Aviation Administration; U.S. Attorney for the Southern District of Ohio

Source Note: This HTML text is a web-formatted rendering of the original PDF news release preserved in the FNSI–Cogent documentary archive. Paragraph spacing and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: May 29, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — May 29, 2025 — Cogent Communications Holdings, Inc. (NASDAQ: CCOI) is the subject of federal whistleblower submissions alleging that its colocation business model—the foundation of its present market valuation—was built on the concealed 2003 acquisition of Fiber Network Solutions, Inc. (FNSI).

According to whistleblower David J. Koch, the transaction and the subsequent withholding of the schedules referenced in Exhibit 2.5 of Cogent's S-1 registration statement form the basis of an alleged long-running effort to conceal the true origins of the company's colocation strategy.

"They built their empire on what they stole from me—and they've spent 22 years hiding it."

— David J. Koch, Federal Whistleblower

The whistleblower filings assert that the FNSI acquisition occurred while Koch was medically incapacitated and that the transaction was structured in a way that removed him and his equity stake from the company.

The acquisition was referenced only in an unindexed exhibit—Exhibit 2.5—within Cogent's S-1 registration statement filed with the Securities and Exchange Commission. The schedules referenced in that exhibit were omitted and have not been publicly disclosed.

According to the release, Cogent's CEO Dave Schaeffer subsequently directed Kyle Bacon, Koch's former business partner, to apply the operational model developed at FNSI to Cogent's struggling PSInet colocation facilities.

Within months, the PSInet data centers reportedly became profitable and Cogent transitioned its business strategy toward colocation services.

The whistleblower states that recordings documenting these events have been provided to federal investigators including the FBI, SEC, IRS-CI, FAA, and the U.S. Attorney's Office for the Southern District of Ohio.

March 2025

• March 14 — Initial whistleblower notice sent to CEO Dave Schaeffer and Chief Legal Officer John Chang.
• March 17 — Follow-up correspondence outlining the Exhibit 2.5 timeline.
• March 18 — Assertion of statutory whistleblower protections.
• March 19 — Final internal notice prior to public disclosure.

April 2025

• April 5 — Memorandum sent to Cogent's Board regarding potential denial of D&O insurance coverage.
• April 21 — Public notice involving Cogent Communications, Wilmington Trust, and M&T Bank.
• April 23 — Board notice referencing Exhibit 2.5 and the alleged concealment of the FNSI acquisition.
• April 30 — Board-wide distribution of final notice outlining criminal allegations.

May 2025

• May 16 — "Cogent On Notice" letter delivered to Cogent leadership.
• May 21 — Formal demand for production of Exhibit 2.5 schedules.
• May 23 — Five-page legal demand letter citing RICO and obstruction statutes.
• May 23 — Legal response sent to Chief Legal Officer John Chang.
• May 23 — Chang response declining production of the schedules.
• May 27 — Final 48-hour notice delivered to Cogent leadership.

The release also highlights stock sales reported in SEC Form 4 filings by Cogent CEO Dave Schaeffer during the period of escalating whistleblower disclosures:

• May 15, 2025 — 40,000 shares sold for $2,015,036
• May 22, 2025 — 25,000 shares sold for $1,156,768
• May 23, 2025 — 25,000 shares sold for $1,173,318

These sales totaled approximately $4.3 million during the same period that Cogent received multiple legal notices requesting disclosure of the Exhibit 2.5 schedules.

The whistleblower states that the transactions have been referred for review by the SEC, the Department of Justice, IRS-CI, and the U.S. Attorney's Office.

The whistleblower submissions reference several federal statutes, including:

• 18 U.S.C. § 1962(d) — RICO conspiracy
• 18 U.S.C. § 1519 — Destruction or concealment of records
• 18 U.S.C. § 1832 — Theft of trade secrets
• 15 U.S.C. § 78j(b) — Securities fraud by omission
• 18 U.S.C. § 1512 — Witness tampering

According to the release, multiple SEC whistleblower submissions and additional federal case filings are associated with the disclosures described in the document.

The release concludes that continued concealment or alteration of the schedules referenced in Exhibit 2.5 may constitute additional predicate acts under federal racketeering statutes.

"If the Department of Justice ever had a clean shot at a corporate RICO prosecution—here it is."

— David J. Koch

MEDIA CONTACT:
David J. Koch
Federal Whistleblower
[email protected]
https://fibernetworksolutions.net

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250529.pdf

What this document is about: This news release discusses the document identified as Exhibit 2.5 in Cogent Communications Holdings, Inc.'s S-1 registration statement filed with the U.S. Securities and Exchange Commission. The release asserts that the schedules referenced in Exhibit 2.5 of the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI) have never been disclosed despite repeated legal demands. According to federal whistleblower David J. Koch, the schedules may identify the assets transferred and individuals involved in the transaction that helped establish Cogent's colocation business model.

Document Type: News Release

Date: May 30, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; Kyle C. Bacon

Subject Matter: Concealment allegations concerning schedules omitted from Exhibit 2.5 of Cogent's S-1 registration statement relating to the 2003 FNSI acquisition

Referenced Agencies: U.S. Securities and Exchange Commission; Department of Justice; Internal Revenue Service – Criminal Investigation Division; U.S. Attorney's Office

Source Note: This HTML text is a web-formatted rendering of the original PDF news release preserved in the FNSI–Cogent documentary archive. Paragraph spacing and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: May 30, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — May 30, 2025 — In February 2003, Cogent Communications Holdings, Inc. (NASDAQ: CCOI) quietly filed a document labeled Exhibit 2.5 with its S-1 registration statement. The exhibit was described only as a "miscellaneous asset" and was filed without explanation, with the associated schedules omitted.

Today, according to federal whistleblower David J. Koch, those schedules are being guarded by Cogent despite formal legal demands and shareholder interest, and they are now central to an active federal whistleblower case involving multiple regulatory agencies.

"If the schedules didn't confirm criminal activity, they would have been produced. If they never existed, then Cogent committed securities fraud by referencing them in its S-1 registration. Either way, the cover-up is more damning than the original act."

— David J. Koch, Federal Whistleblower

Koch alleges that Exhibit 2.5 concealed the transfer of infrastructure, intellectual property, and operational methods from Fiber Network Solutions to Cogent during the company's early development of its colocation business.

According to the release, Cogent CEO Dave Schaeffer later instructed Kyle Bacon, Koch's former business partner, to replicate FNSI's colocation model across Cogent's existing PSInet data centers. Those facilities had reportedly been losing approximately $150,000 per month before adopting the FNSI model.

Once implemented, the facilities reportedly transitioned from operating losses to profitable operations, contributing to Cogent's expansion into the colocation sector.

Cogent has received fourteen formal legal notices requesting production of the schedules referenced in Exhibit 2.5. According to the release, none of those requests have resulted in the production of the schedules.

During the same period, Cogent CEO Dave Schaeffer sold 90,000 shares of company stock across three transactions in May 2025 totaling approximately $4.3 million.

The transactions occurred on May 15, May 22, and May 23 while the company was receiving legal notices and whistleblower disclosures concerning the Exhibit 2.5 schedules.

According to the whistleblower release, if made public the schedules referenced in Exhibit 2.5 could reveal:

• The specific assets acquired by Cogent in the 2003 transaction
• The individuals or entities who received payment
• Parties whose roles were not disclosed in Cogent's public filings

Such information, according to the release, could clarify the origins of Cogent's early colocation operations and provide insight into the structure of the acquisition.

The release cites several federal statutes that may be implicated in the whistleblower submissions:

• 18 U.S.C. § 1962(d) — Racketeer Influenced and Corrupt Organizations (RICO) conspiracy
• 18 U.S.C. § 1519 — Destruction or falsification of records in federal investigations
• 15 U.S.C. § 78j(b) — Securities fraud by material omission
• 18 U.S.C. § 1512 — Witness tampering

The release states that the information may be cited in ongoing or future federal investigations, regulatory reviews, or congressional oversight proceedings.

All documentation, legal demands, read receipts, and whistleblower filings referenced in the release are maintained at:

https://FiberNetworkSolutions.net

MEDIA CONTACT:
David J. Koch
Federal Whistleblower
[email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250530.pdf

What this document is about: This news release addresses renewed whistleblower accusations against Cogent Communications Holdings, Inc. concerning the company's continued refusal to produce the schedules referenced in Exhibit 2.5 of its SEC registration statement. The document states that the schedules relate to Cogent's 2003 acquisition of Fiber Network Solutions, Inc. (FNSI) and asserts that the company's refusal to release them constitutes ongoing obstruction tied to multiple federal investigations.

Document Type: News Release

Date: June 2, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; John Chang

Subject Matter: Alleged obstruction related to Cogent's refusal to produce schedules referenced in Exhibit 2.5 of its SEC filing concerning the 2003 FNSI acquisition

Referenced Agencies: U.S. Securities and Exchange Commission; Department of Justice; Internal Revenue Service – Criminal Investigation Division; Federal Aviation Administration; U.S. Attorney's Office for the Southern District of Ohio

Source Note: This HTML text is a web-formatted rendering of the original PDF news release preserved in the FNSI–Cogent documentary archive. Paragraph spacing and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: June 2, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — June 2, 2025 — Federal whistleblower David J. Koch, co-founder and former CEO of Fiber Network Solutions, Inc. (FNSI), today accused Cogent Communications Holdings, Inc. (NASDAQ: CCOI) of "criminal obstruction" for its continued refusal to produce the missing schedules to Exhibit 2.5—an SEC-referenced document tied to Cogent's 2003 acquisition of FNSI while Koch was medically incapacitated.

Despite receiving fourteen legal notices—including a final 48-hour deadline issued the prior week—Cogent has refused to produce the schedules referenced in its own SEC filing. As of June 2, 2025, the documents remain concealed.

"If these schedules were harmless, they'd already be public. Cogent's own Chief Legal Officer has acknowledged they exist. If the company now claims they never existed, then it committed securities fraud by referencing them in its 2003 SEC registration. Either way, the continued refusal to produce them is obstruction—and by now, everyone sees it."

— David J. Koch, Federal Whistleblower

According to the release, the ongoing refusal to produce the schedules may constitute additional predicate acts under federal racketeering statutes and could reset the statute of limitations under the RICO conspiracy statute, 18 U.S.C. § 1962(d).

Cogent's Chief Legal Officer, John Chang, previously responded to a whistleblower demand by stating that the company was "not obligated" to provide the requested materials.

According to the release, this response—issued after multiple legal notices had been delivered to the company and its board—has been cited by legal analysts as potentially implicating statutes concerning retaliation against a witness and concealment of records in a federal investigation.

The release further states that several members of Cogent's board received the whistleblower communications and attachments describing the withheld schedules.

The release notes that Cogent issued no explanation or denial following the May 27 deadline for production of the documents. During the same period, Cogent CEO Dave Schaeffer sold approximately $4.3 million of company stock across several transactions in May 2025.

Those sales have reportedly been referred for review by the SEC, Department of Justice, IRS Criminal Investigation Division, Federal Aviation Administration, and the U.S. Attorney's Office for the Southern District of Ohio.

According to the release, each day that Cogent withholds the schedules may increase potential legal exposure under statutes including:

• 18 U.S.C. § 1962(d) — RICO conspiracy
• 18 U.S.C. § 1519 — Concealment of records in a federal investigation
• 15 U.S.C. § 78j(b) — Securities fraud by material omission
• 18 U.S.C. § 1513(e) — Retaliation against a whistleblower

The release states that forensic tracking indicates that multiple members of Cogent's board accessed the whistleblower notices and supporting documentation referencing the Exhibit 2.5 schedules.

Under certain corporate governance doctrines and federal statutes, directors who possess knowledge of material legal risks but fail to act may face potential personal liability.

"This isn't passive negligence—it's active concealment. They're not just ignoring evidence—they're sitting on the documents that prove the conspiracy."

— David J. Koch

The release concludes that if the schedules to Exhibit 2.5 are not produced, each additional day of concealment may constitute a separate predicate act under federal obstruction statutes. Supplemental complaints and evidentiary submissions are reportedly being prepared for federal investigative agencies.

This release is issued in the public interest and may be cited in regulatory proceedings, federal enforcement actions, or congressional oversight inquiries.

Supporting documentation is maintained at:

https://FiberNetworkSolutions.net

MEDIA CONTACT:
David J. Koch
Federal Whistleblower
[email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250602.pdf

What this document is about: This news release discusses a $600 million senior secured debt offering announced by Cogent Communications Holdings, Inc. (NASDAQ: CCOI) and concurrent insider stock sales by CEO Dave Schaeffer. The document asserts that the financial activity occurred while Cogent continued to refuse legal demands to produce the schedules to Exhibit 2.5 of its SEC registration statement relating to the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI). The release alleges that the timing of the debt raise and insider stock sales may reflect financial repositioning ahead of potential regulatory scrutiny.

Document Type: News Release

Date: June 4, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer

Subject Matter: Cogent's $600 million debt issuance and insider stock sales occurring during ongoing whistleblower allegations concerning the concealed schedules referenced in Exhibit 2.5 of Cogent's SEC filing related to the 2003 FNSI acquisition

Referenced Agencies: U.S. Securities and Exchange Commission; Department of Justice; Internal Revenue Service – Criminal Investigation Division; U.S. Attorney's Office

Source Note: This HTML text is a web-formatted rendering of the original PDF news release preserved in the FNSI–Cogent documentary archive. Paragraph spacing and formatting have been standardized for online readability and machine accessibility while preserving the substance of the original document.

FOR IMMEDIATE RELEASE

Date: June 4, 2025
Contact:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — June 4, 2025 — Just two days after being publicly accused of criminal obstruction for withholding the schedules to Exhibit 2.5—a concealed acquisition agreement tied to the 2003 takeover of Fiber Network Solutions, Inc. (FNSI)—Cogent Communications (NASDAQ: CCOI) announced a $600 million senior secured notes offering.

According to federal whistleblower David J. Koch, the timing of the debt raise—combined with undisclosed executive stock sales—suggests a deliberate effort by insiders to financially reposition ahead of potential regulatory scrutiny.

"This is not normal corporate behavior. You don't ignore a federal demand, liquidate millions in insider stock, and then suddenly raise $600 million in secured debt unless you're bracing for regulatory impact."

— David J. Koch, Federal Whistleblower

The legal demand referenced concerns the long-suppressed schedules to Exhibit 2.5—an acquisition agreement referenced in Cogent's 2003 S-1 SEC registration statement under the category "miscellaneous assets." The schedules allegedly relate to the asset purchase agreement for Fiber Network Solutions, Inc.

According to the release, the acquisition occurred while Koch was medically incapacitated, during which his founding equity position in FNSI was allegedly eliminated without compensation or formal notice.

"Exhibit 2.5 was so 'inconsequential' to Cogent when it filed its S-1 that the acquisition of my company wasn't even disclosed in the body of the registration. Now that it corroborates my federal whistleblower report, it has become the most heavily guarded document in Cogent's corporate archive."

— David J. Koch

Securities filings show that Cogent CEO Dave Schaeffer sold approximately 115,000 shares of company stock for $5,517,715 across several transactions during May 2025.

• May 15, 2025 — 40,000 shares sold for $2,015,036
• May 22, 2025 — 25,000 shares sold for $1,156,768
• May 23, 2025 — 25,000 shares sold for $1,173,318
• May 29, 2025 — 25,000 shares sold for $1,172,593

The May 15 transaction occurred one day before Cogent reportedly received a formal legal demand for production of the Exhibit 2.5 schedules. The final sale occurred two days after the document production deadline expired.

On June 2, shortly after additional whistleblower complaints were submitted, Cogent announced the $600 million senior secured notes offering. The company stated that approximately $500 million would refinance existing notes due in 2026.

The remaining $100 million was described only as being reserved for "general corporate purposes," which the release characterizes as unexplained and potentially significant given the timing relative to ongoing whistleblower allegations.

The release asserts that the continued refusal to produce the Exhibit 2.5 schedules may constitute additional predicate acts under several federal statutes, including:

• 18 U.S.C. § 1962(d) — Conspiracy to Commit Racketeering (RICO)
• 18 U.S.C. § 1519 — Destruction or Concealment of Records in a Federal Investigation
• 15 U.S.C. § 78j(b) — Securities Fraud by Material Omission
• 18 U.S.C. § 1513(e) — Retaliation Against a Federal Whistleblower

The release states that supplemental complaints incorporating the debt offering and insider stock sales are being prepared for submission to the SEC, Department of Justice, IRS Criminal Investigation Division, and the U.S. Attorney's Office.

According to the release, several members of Cogent's Board of Directors allegedly received federal whistleblower notices and document demands referencing Exhibit 2.5 yet did not publicly respond.

"The board's silence is no longer mere complicity—it now amounts to active participation. This isn't about whether laws were broken. It's about who breaks first under scrutiny—and who steps forward to tell the truth."

— David J. Koch

Supporting documentation related to the whistleblower submissions is maintained at:

https://FiberNetworkSolutions.net

MEDIA CONTACT:
David J. Koch
Federal Whistleblower
[email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250604.pdf

What this document is about: This news release details a federal whistleblower disclosure by David J. Koch concerning Cogent Communications Holdings, Inc. (NASDAQ: CCOI). The document asserts that Cogent repeatedly rejected opportunities to resolve issues related to its concealed acquisition of Fiber Network Solutions, Inc. (FNSI) and the schedules referenced in Exhibit 2.5 of its SEC registration statement. The release states that the company's continued refusal to produce those schedules and respond to formal notices has expanded the scope of federal scrutiny.

Document Type: News Release

Date: June 9, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; John Chang; Diana Ritchie Thomas; Kyle Bacon

Subject Matter: Federal whistleblower disclosure concerning Cogent's response to formal notices regarding Exhibit 2.5 and the 2003 acquisition of Fiber Network Solutions

FOR IMMEDIATE RELEASE

June 9, 2025
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON — June 9, 2025 — Between March 14 and May 23, 2025, federal whistleblower David J. Koch issued a series of formal notices and outreach emails to Cogent Communications' (NASDAQ: CCOI) executive team and Board of Directors. Each communication offered a documented, lawful opportunity to engage transparently and proactively regarding Cogent's concealed acquisition of Fiber Network Solutions, Inc. (FNSI) and the now-infamous Exhibit 2.5.

Instead of taking any of these lawful off-ramps, Cogent chose stonewalling, deflection—and ultimately, obstruction.

Chief Legal Officer John Chang's March 19 email marked a categorical denial of responsibility—a position Cogent reiterated in its May 23 response. Both denials came despite multiple federal agencies already being in possession of Koch's 160-page evidentiary report, supported by audio evidence, documentation, and formal whistleblower filings.

"They were offered a seat at the table. They chose a bunker. Now they're trapped inside, watching it collapse around them."

— David J. Koch

Between March 14 and March 19, Koch made multiple good-faith attempts to resolve the matter privately, professionally, and without triggering regulatory escalation.

• March 14: Initial outreach proposing voluntary resolution and immediate production of the missing Exhibit 2.5 schedules.
• March 15: Follow-up detailing Exhibit 2.5's legal significance and urging confidential review by the full Board.
• March 16: Direct request to John Chang and the Board to confirm receipt and initiate constructive dialogue.
• March 17: Offer to involve neutral third parties and delay regulatory escalation pending board engagement.
• March 18: Formal notice that whistleblower disclosures had been filed with IRS-CI, the FBI, SEC, FAA, and U.S. Attorney—and that the window for voluntary cooperation was rapidly closing.
• March 19: Final pre-enforcement warning emphasizing urgency and reaffirming Koch's intent to avoid escalation if the schedules were produced.

Chang's March 19 reply dismissed the matter outright, ignoring every factual claim and federal filing. It marked the moment Cogent formally turned its back on lawful engagement.

By the time Chang issued his March 19 denial, Koch's master evidentiary report had already been submitted to:

• The IRS Criminal Investigation Division (multiple case numbers)
• The FBI's Public Corruption and Financial Crimes Units
• The SEC Office of the Whistleblower (multiple TCRs)
• The FAA Aviation Enforcement Division (assigned two case numbers)
• The U.S. Attorney's Office for the Southern District of Ohio, Columbus Division

In a rare deviation from standard IRS-CI protocol, upon submission of his 160-page evidentiary whistleblower report and supporting exhibits, Koch was assigned a case number prior to submitting IRS Form 211—an indication that the submission was deemed credible, urgent, and substantial enough to trigger immediate investigative action.

Cogent buried Exhibit 2.5 deep within its S-1 registration statement under the vague label "miscellaneous asset acquisitions," omitting any reference in the body of the filing. Now confirmed as the full asset purchase agreement for Fiber Network Solutions, Exhibit 2.5 details a transaction executed while Koch was medically incapacitated—a transaction that erased 1.2 million founder shares and transferred FNSI's intellectual property, customer base, and contracts without shareholder approval or compensation.

"They once dismissed it as inconsequential. Now it's the most heavily guarded document in Cogent's archive."

— David J. Koch

Despite multiple formal legal demands—including notices in March, May 16, and May 23, 2025—Cogent continues to withhold the schedules to Exhibit 2.5.

Mr. Koch

Cogent has received a number of emails from you. We deny any wrongdoing with respect to the FNSI acquisition that occurred over twenty years ago. We believe you have no factual or legal basis to support your allegations. We will vigorously defend ourselves against any frivolous claims.

You should not expect responses to your future correspondence. We will reply if and when we believe a reply is warranted.

— John Chang, Chief Legal Officer, Cogent Communications

No company can claim surprise when it was warned—clearly, repeatedly, and in writing.

The March emails were not traps—they were bridges. The May 16 notice and May 23 demand were final lawful opportunities for accountability.

https://FiberNetworkSolutions.net

Contact:
David J. Koch
Federal Whistleblower
President, CEO, Chairman
Fiber Network Solutions, Inc.

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250609.pdf

What this document is about: This memorandum is a formal legal notice sent to the Board of Directors of Cogent Communications Holdings, Inc. (NASDAQ: CCOI) by federal whistleblower David J. Koch concerning the concealed 2003 acquisition of Fiber Network Solutions, Inc. (FNSI). The memorandum advises the board of potential legal exposure arising from the alleged suppression of the schedules referenced in Exhibit 2.5 of Cogent's SEC registration statement and references evidence connected to ongoing federal whistleblower investigations.

Document Type: Legal Memorandum / Formal Notice

Date: June 11, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Cogent Board of Directors

Subject Matter: Formal legal notice regarding the concealed 2003 acquisition of Fiber Network Solutions and the schedules referenced in Exhibit 2.5

TO: Members of the Board of Directors, Cogent Communications Holdings, Inc.
FROM: David J. Koch, Federal Whistleblower and Co-Founder, Fiber Network Solutions, Inc.
DATE: June 11, 2025
SUBJECT: Urgent Legal Exposure Arising from the Concealed 2003 Acquisition of Fiber Network Solutions

To All Board Members:

This memo accompanies today's public news release titled: "Cogent Communications Didn't Build or Design a Data Center Model — They Stole One." It includes newly published documented, physical and forensic evidence that renders further inaction by Cogent's board both indefensible and legally perilous.

In accordance with your fiduciary duties under Delaware law—including your duty of care, duty of loyalty, and duty of oversight as established in Stone v. Ritter, 911 A.2d 362 (Del. 2006)—you are expected to promptly download and review today's public news release, which includes evidence now under federal investigation.

The Release contains links to Exhibit A, which is the original 2001 brochure for Fiber Network Solutions, Inc. (FNSI), published and distributed more than a year before Cogent Communications acquired its first data centers from PSInet. This brochure is not promotional fluff—it is documented forensic evidence of an already operational, profitable, nationally recognized Tier One co-location data center provider with audited financials and a coast-to-coast backbone.

IT CONFIRMS:

FNSI's colocation and transit-free model predates Cogent's entrance into the data center space.

Cogent inherited this model, deployed it across failing PSInet data centers and began reporting profits within nine months.

The FNSI acquisition was never disclosed in Cogent's S-1 or public investor filings, and remains buried as a mislabeled, unscheduled "miscellaneous asset purchase" in Exhibit 2.5.

AND IT RAISES THE QUESTION:

Why has Cogent continued to suppress the origin of its entire business model for over two decades?

YOU ARE NOW ON FORMAL NOTICE

This brochure, archived for over two decades at this link:

https://web.archive.org/web/20040622112204/http://www.fnsi.net/images/FNSIBrochure.pdf

together with recorded admissions and federal filings, supports my allegations of:

• Racketeering and conspiracy under 18 U.S.C. § 1962(d)
• Whistleblower retaliation under 18 U.S.C. § 1513(e)
• Obstruction of justice under 18 U.S.C. § 1519

INVESTIGATIONS ARE NOW ACTIVE AT THE:

• IRS Criminal Investigation Division
• FBI Public Corruption and Financial Crimes Units
• SEC Office of the Whistleblower
• FAA Aviation Enforcement Division
• U.S. Attorney's Office for the Southern District of Ohio

You are each responsible for your actions from this point forward. You may no longer credibly claim ignorance or distance.

RECOMMENDED ACTION

To limit your exposure and fulfill your fiduciary obligations:

• Demand immediate disclosure of the full, original Exhibit 2.5 schedules from the 2003 acquisition agreement.
• Retain independent legal counsel with experience in whistleblower retaliation, securities fraud, and federal RICO defense.
• Insist on a board-level independent investigation with authority to report directly to federal agencies.
• Cease any suppression or obstruction of whistleblower communications through email filtering, proxy denials, or internal directives.

FAILURE TO ACT WILL LIKELY RESULT IN:

• Personal civil liability
• Criminal investigation
• Resignation demands under federal scrutiny

CLOSING STATEMENT

This is not just corporate misjudgment—it is now an alleged criminal conspiracy involving the erasure of over 1.2 million founder shares, theft of trade secrets, and the deliberate concealment of a company's true origin story.

I was supposed to be dead. That was your founder's entire strategy without a contingency plan. But I didn't die. And now the truth is louder than your silence.

I have not gone away. I have not given up. And I am not bluffing. If you continue to believe this is posturing, you are making a serious miscalculation.

I strongly urge each of you to choose cooperation over complicity.

Respectfully,

David J. Koch
Federal Whistleblower
President, CEO, Chairman
Fiber Network Solutions, Inc.
[email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/Memorandum_Cogent_Board_20250611.pdf

What this document is about: This news release presents evidence concerning the origins of Cogent Communications' colocation data center model. The document references a 2001 brochure from Fiber Network Solutions, Inc. (FNSI) and archived website records demonstrating that FNSI operated a profitable coast-to-coast colocation network prior to Cogent's entry into the market. The release asserts that Cogent later implemented that operational model following its concealed acquisition of FNSI in 2003.

Document Type: News Release

Date: June 11, 2025

Primary Parties: Fiber Network Solutions, Inc. (FNSI); Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Key Individuals Referenced: David J. Koch; Dave Schaeffer; Kyle Bacon

Subject Matter: Evidence concerning the origins of Cogent's colocation data center model and the concealed acquisition of Fiber Network Solutions

FOR IMMEDIATE RELEASE

June 11, 2025
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WASHINGTON, D.C. — June 11, 2025 — Newly surfaced evidence shatters the long-standing myth that Cogent Communications (NASDAQ: CCOI) engineered its own colocation data center strategy.

A 2001 brochure from Fiber Network Solutions, Inc. (FNSI)—now available on the company's whistleblower evidence portal—proves that long before Cogent acquired its first failing data centers from the bankrupt wreckage of PSInet in April 2002, FNSI was already operating a coast-to-coast, Tier One colocation network—and doing so profitably.

The Internet Archive's February 10, 2003 snapshot of FNSI's website, preserved only weeks before the concealed acquisition, still contains an active link to that original 2001 brochure—published nearly a year before Cogent's entry into the data center space.

"This is what I built," said federal whistleblower David J. Koch. "While I was down for the count, their entire strategy hinged on two credible sources who told the conspirators I wasn't expected to survive more than six months. They never had a Plan B. But now that gigabytes of evidence have surfaced, two decades of buried suspicion are giving way to hard documented proof. And the deliberate acts to continue the cover-up have reset the statute of limitations to today."

Koch, who co-founded Fiber Network Solutions and served as its President, CEO, and Chairman until his sudden medical incapacitation in 2002, has since provided federal investigators with overwhelming evidence that Cogent acquired FNSI's core infrastructure through a fraudulent transaction—executed while he was disabled and unable to defend his ownership. That acquisition is now the subject of coordinated federal investigations into racketeering, securities fraud, and whistleblower retaliation.

As detailed in Koch's whistleblower report—and confirmed in a recorded conversation with Kyle Bacon—Cogent's only prior experience operating data centers came from its April 2002 acquisition of PSInet assets. Those three inherited facilities were hemorrhaging losses at a rate of more than $150,000 per month.

But everything changed with Cogent's secretive acquisition of FNSI—so covert that it wasn't even disclosed in the body of the company's S-1 SEC registration. Instead, it was buried under a vague, unindexed line item labeled "miscellaneous asset acquisitions." The entire acquisition of Koch's company is in Exhibit 2.5, with all supporting schedules stripped. Those missing schedules—still withheld by Cogent—are now a key focus of multiple federal investigations.

"The five data centers I bought from you are profitable," Cogent CEO Dave Schaeffer reportedly told Kyle Bacon—just days after Bacon joined the company.

According to Bacon, his first assignment from Schaeffer was to turn the failing PSInet facilities into profitable operations—modeled after the five data centers Cogent had just acquired from FNSI in a transaction now alleged to be fraudulent and made possible by Bacon himself and his co-conspirators.

As described in the recorded conversation, Schaeffer directed Bacon to deploy FNSI's colocation model across the underperforming PSInet sites. Bacon followed through, and within nine months, the three data centers that had been losing $150,000 per month were turned profitable.

Listen to a 30-second excerpt from the recorded conversation. (Full audio and transcript on file with federal investigators.)

That pivot became the foundation of Cogent's modern business model—a fact that Cogent has concealed for over two decades.

The 2001 FNSI brochure documented a fully operational enterprise offering:

• A 100% transit-free, coast-to-coast Internet backbone
• Colocation centers in multiple Midwestern cities, strategically designed to eliminate local loop charges
• Annual audited financials from KPMG with consistent unqualified (clean) opinions
• Proactive 24/7 customer support, led by dedicated engineers and a service-first culture

"This wasn't a startup—it was a nationally recognized, fully operational enterprise," said Koch. "They didn't just take my company. They stole the blueprint that built theirs. They didn't build this. They erased me while I was medically vulnerable—and inherited the house I already built, then called it theirs."

FNSI's data centers weren't aspirational—they were fully operational, financially sound, and backed by enforceable contracts. Yet without Koch's consent—and while he was under medical incapacitation —those assets were erased from the corporate record and handed over to Cogent Communications.

The original 2001 FNSI brochure—along with supporting exhibits and website archives—is now available to the public at:

https://fibernetworksolutions.net/evidence.html

The concealed 2003 acquisition of Fiber Network Solutions has already triggered coordinated federal investigations involving:

• The IRS Criminal Investigation Division (IRS-CI)
• The FBI's Public Corruption and Financial Crimes Units
• The SEC Office of the Whistleblower
• The FAA Aviation Enforcement Division
• The U.S. Attorney's Office for the Southern District of Ohio

Koch has submitted formal legal filings, including a 160-page evidentiary report accompanied by gigabytes of supporting documentation, recordings, exhibits, and sworn whistleblower claims. The evidence outlines how the concealed acquisition erased more than 1.2 million founder shares, expropriated intellectual property and trade secrets, and reshaped the future of Cogent Communications—without Koch's knowledge, consent, or compensation.

"They built nothing. They inherited a crime scene," said Koch. "They dismissed what I built as inconsequential back in 2003—and now they're fighting to keep it buried. I was supposed to be dead. That was their entire strategy. But I didn't die. And now, the truth is louder than their lies."

SUPPORTING EVIDENCE
https://fibernetworksolutions.net

David J. Koch
Federal Whistleblower
President, CEO, Chairman
Fiber Network Solutions, Inc.
[email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250611.pdf

What this document is about: This news release discloses new evidence in the federal whistleblower matter involving Fiber Network Solutions, Inc. (FNSI) and Cogent Communications Holdings, Inc. (NASDAQ: CCOI). The release includes recorded admissions from Kyle Bacon, former Chief Information Officer of Cogent Communications, describing how Cogent deployed FNSI's profitable colocation data center model after the 2003 acquisition. It also documents insider stock sales by Cogent CEO Dave Schaeffer following whistleblower notices delivered in March 2025.

FOR IMMEDIATE RELEASE

June 17, 2025
CONTACT:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

COGENT DIDN'T BUILD A DATA CENTER EMPIRE — THEY DEPLOYED ONE STOLEN FROM FNSI. NOW, COGENT'S FORMER CIO CONFIRMS IT.

WASHINGTON, D.C. — June 17, 2025 — In a major escalation of the federal whistleblower case against Cogent Communications (NASDAQ: CCOI), David Koch has released new evidence revealing that Cogent never engineered its celebrated data center model. Instead, it deployed an already-profitable architecture built by Fiber Network Solutions, Inc. (FNSI) — a company Cogent quietly acquired through fraud and whose true origin Cogent concealed for more than twenty years.

The release includes verified excerpts from a March 13, 2024 recorded call in which Kyle Bacon — Cogent's former CIO — admits that CEO Dave Schaeffer instructed him to implement FNSI's fraudulently acquired data center model.

Background documentation confirms that before joining Cogent, Bacon was David Koch's partner and served as FNSI's Vice President and COO. The materials also document that Bacon played a central role in the fraudulent acquisition that transferred FNSI to Cogent and unlawfully stripped Koch of 1.2 million shares during a period of life-threatening medical incapacitation.

A timestamped 2001 brochure from FNSI, archived by the Internet Archive, demonstrates that FNSI's infrastructure was fully operational and serving clients long before Cogent acquired the bankrupt remnants of PSINet in April 2002.

According to Kyle Bacon, former FNSI COO and later Cogent's first CIO, Cogent CEO Dave Schaeffer acknowledged the strength of the FNSI-built infrastructure.

"The five colocation centers I bought from you are profitable."

— Dave Schaeffer, as recounted by Kyle Bacon

Schaeffer then instructed Bacon to apply that same model to three failing PSINet data centers, which at the time were hemorrhaging over $150,000 per month.

Bacon followed orders — and the transformation was swift.

"Nine months later, they were all profitable."

— Kyle Bacon

That moment marked the quiet but foundational appropriation of FNSI's architecture. From that point forward, Cogent's rise was not driven by internal innovation but by the concealed deployment of a model developed by FNSI under David Koch's leadership — a model stripped of attribution and repackaged as Cogent's own.

In a publicly released recording dated March 13, 2024, Kyle Bacon confirms the origin of Cogent's data center playbook.

"Cogent didn't have a product to sell for these data centers that they bought from PSI."

— Kyle Bacon

"I took our model. I took our data center model from FNSI — from FiberNet — packaged it up, made a nice presentation for the sales team so they could all understand it, and I said, 'Go sell the shit out of this,' because no one else is doing it."

— Kyle Bacon

"That's what put me on Dave Schaeffer's and Cogent's radar. Because I took his turd and turned it to gold. I didn't build anything new. I just took what we had at Fibernet."

— Kyle Bacon

These admissions directly implicate Cogent CEO Dave Schaeffer in the deliberate misappropriation of a competitor's infrastructure and confirm that Kyle Bacon acted as the operational conduit executing Schaeffer's directive.

Multiple whistleblower disclosures were sent to Cogent leadership and acknowledged on March 14, 17, 18, and 19, 2025. Subsequent notices were sent to Nasdaq Market Watch, Cogent's Board of Directors, Wilmington Trust, and M&T Bank.

Cloudflare forensic logs confirm that Cogent's corporate IP (66.28.3.2 — ASN 174) accessed and downloaded evidentiary materials from the whistleblower website on March 11 and March 14, 2025, confirming the company's awareness that Koch had discovered and documented the underlying fraud.

Following these notices, Cogent CEO Dave Schaeffer sold 966,500 shares of Cogent stock, generating $47,450,777 in proceeds.

These transactions occurred amid escalating legal scrutiny and mounting exposure to federal enforcement actions.

If found to be reactive or part of an effort to evade liability, the transactions could expose Schaeffer and Cogent to SEC enforcement, asset seizure, or emergency injunctive relief.

Every insider sale, false filing, and act of concealment traces back to a central act of fraud: the theft of Fiber Network Solutions' infrastructure.

The statute of limitations has been reset numerous times since December 2023 through continuing acts of concealment and obstruction.

"The people who handed my company to Cogent thought I'd never wake up, never fight back, never prove what they did. That miscalculation will go down as the most reckless mistake of their lives. I'm still here — and I brought receipts."

— David J. Koch

"I would have been happy with a small house, a garden, and a dog."

— Chris Myers, former Vice President of Administration, FNSI

With this release, investigators now have a timestamped public record of FNSI's data center model, recorded admissions from Cogent's former CIO, and a documented pattern of financial activity consistent with concealment.

MEDIA CONTACT:
David Koch
Federal Whistleblower
President, CEO & Chairman
Fiber Network Solutions, Inc.
https://fibernetworksolutions.net
[email protected]

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250617.pdf

What this document is about: This news release addresses Nolan Housley, Spencer Housley, Caylin Housley, and Camy Erlandson, the children of Craig Housley, in connection with the long-running dispute involving Fiber Network Solutions, Inc. (FNSI) and Cogent Communications Holdings, Inc. (NASDAQ: CCOI). The document explains the circumstances surrounding the 2003 acquisition of FNSI, the subsequent concealment allegations, and the potential legal and ethical consequences associated with continued involvement in related activities.

FOR IMMEDIATE RELEASE

June 25, 2025
CONTACT:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

TO THE CHILDREN OF CRAIG HOUSLEY:
THE TRUTH HAS ALREADY ARRIVED — WHAT YOU DO NOW MATTERS

AUBURN, CA & JACKSONVILLE, FL — June 25, 2025 — This release is not directed at executives, regulators, or institutional shareholders. It is written for four individuals who were not present when the fraud began in 2003, nor during the two decades of silence that followed — but who now stand at its moral and legal intersection:

Nolan Housley, Spencer Housley, Caylin Housley, and Camy Erlandson — the children of Craig Housley.

You weren't in the room when Fiber Network Solutions was fraudulently acquired in 2003. You didn't forge documents. You didn't orchestrate the cover-up. And you didn't profit from it at the time.

But now — two decades later — your names, your reputations, and your futures have become entangled with that long-buried truth.

There is credible and growing evidence that financial disbursements were made to members of the Housley family — possibly including tuition assistance, personal or professional support, or unreported asset transfers — around the time your parents re-engaged with Kyle Bacon and other participants in the Cogent Communications conspiracy, which I have identified in federal filings as part of a criminal enterprise under RICO, in late November 2024.

On that very same day — November 21, 2024 — Kyle Bacon sent a message to Dave Koch asking, "What's a life-changing amount of money for you and Chris?"

It wasn't an offer. It appeared to be gloating — a cruel insinuation that Craig had just been paid off and that Kyle's two-decade long criminal secret will remain buried.

You may not have asked for any of it. But the record suggests you may have received it.

On May 2, 2025, your parents received a formal legal notice outlining their involvement in a concealment scheme that qualifies as a predicate act under the Racketeer Influenced and Corrupt Organizations Act (RICO), 18 U.S.C. § 1962(d).

Rather than consider the counsel it offered, digital forensics confirm that they forwarded the notice to members of the original enterprise — a retaliatory act that again reset the statute of limitations.

That single decision eliminated any opportunity for cooperation. It moved your parents from silence to complicity. And in doing so, it exposed them to federal prison terms measured not in months, but decades.

"I want to make my position clear: I am not here to punish anyone. That is not my role. My responsibility is to report the truth — thoroughly, accurately, and in good faith — to professional investigators, regulators, and prosecutors who are trained to make charging, indictment, and enforcement decisions."

— David J. Koch

The May 2 notice was not the first opportunity Craig had to do the right thing. It was one of six separate off-ramps presented to him over sixteen months. All were ignored.

On June 17, 2025, the public release exposed insider stock sales and detailed how Cogent Communications stole not just a company — but a data center model, source methodology, and business plan — and then buried that truth for over two decades.

Less than two days later, at 1:11 AM CT on June 19, the May 2 legal notice was accessed again from a Housley device. Forensic logs show that heavy traffic from IP address 47.208.236.36, assigned to the Housley household, followed immediately.

Within hours: Nolan Housley blocked Koch on LinkedIn, both personally and from the FNSI profile. Spencer followed. Then Craig. Then Caylin.

This was not confusion. It was recognition — followed by retreat.

Not because the evidence was flawed — but because it was irrefutable.

"I cannot imagine how difficult it must be to reconcile what your parents chose. Not just what they did recently — but what they knew, both in writing and on recorded calls," Koch stated.

They knew that a man — a friend of your father for 35 years, someone who helped advance his aviation career — had been medically incapacitated when his life's work was stolen.

Craig, in writing, confirmed his belief that untrustworthy and disloyal individuals took advantage of a medically incapacitated founder — and called it a "shame" that such corruption occurred.

And yet — when given the chance to do the right thing — he and Inga chose to re-victimize that person.

That is not a weight any child should be expected to carry.

But now — fairly or not — it has been passed to you.

You can keep following the lead of someone pretending to understand business and law. You can try to shield assets you didn't earn — and pretend this is someone else's problem.

It is hoped that subpoenas overlook your connection. But based on the evidence trail, that appears unlikely.

— OR —

You can choose differently.

You can speak. You can cooperate. You can be the first in this entire two-decade saga to say:

"This stops with me."

Covering up fraud you didn't commit doesn't make you innocent.

It could make you complicit. It risks drawing you into a RICO criminal enterprise — not as an observer, but as a participant.

But it's not too late.

You still have time to choose a different path.

If you received money, tuition, career assistance, or assets tied to a scheme that exploited a medically incapacitated founder, then you already know what the right thing is.

None of you owe me anything.

But you owe yourselves the chance to be remembered as the ones who faced it — not buried it.

And time will remember what you chose.

David J. Koch
Federal Whistleblower
President, CEO and Chairman
Fiber Network Solutions, Inc.

FORWARD-LOOKING STATEMENT AND LEGAL DISCLAIMER
This release includes references to public records, regulatory filings, and whistleblower submissions already provided to federal agencies. All individuals named are presumed innocent unless and until proven guilty in a court of law. The statements herein reflect the firsthand knowledge and good-faith belief of federal whistleblower David J. Koch as of June 25, 2025, and may be supplemented or revised as new facts emerge or investigations progress.

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250625.pdf

What this document is about: This news release addresses the broader personal and generational consequences arising from the long-running dispute involving Fiber Network Solutions, Inc. (FNSI) and Cogent Communications Holdings, Inc. (NASDAQ: CCOI). The document discusses the alleged concealment of the 2003 acquisition of FNSI, the role of various participants connected to Cogent Communications, and the potential impact of the controversy on members of the Housley family and others connected to the events.

FOR IMMEDIATE RELEASE

July 1, 2025
CONTACT:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

GENERATIONAL FALLOUT: HOW THE COVER-UP OF A CORPORATE CRIME IS NOW DESTROYING INNOCENT YOUNG LIVES

WHEN SILENCE BECOMES INHERITANCE, THE DAMAGE DOESN'T END WITH THE PERPETRATORS—IT PASSES DOWN TO THEIR CHILDREN.

WASHINGTON D.C. — July 1, 2025 — The children of Craig and Inga Housley never signed up to be part of a federal criminal investigation. They played no role in the fraud that stole Fiber Network Solutions from a medically incapacitated founder, nor in the decades-long cover-up that followed. And yet, by June 25, 2025, the consequences of their parents' decisions—and the corporate conspiracy their family chose to join—arrived at their front door.

This is no longer just a story about corporate fraud. It is a story about generational wreckage, reputational collapse, and the irreversible loss of innocence—paid for by those who didn't commit the crime.

The June 25 news release addressed to the adult children of Craig Housley was not an act of provocation. It was a responsive reckoning—forced by silence—after every private, respectful avenue had been shut down or ignored.

This collapse of moral integrity began with the theft of a company—executed during a moment of medical vulnerability of its co-founder, president, CEO and Chairman, Dave Koch, by Kyle Bacon, Diana Ritchie Thomas, Vince Bacon, Jim Bacon, Bill Kelly and Dave Schaeffer, with assistance from Robert (Bob) Ellis. What followed was a 20-year cover-up, orchestrated by executives at Cogent Communications and upheld by the willful silence of every member of its Board of Directors.

As Fiber Network Solutions was quietly absorbed through a fraudulent acquisition, its founder lay incapacitated by medical trauma. Had the crime been confessed early, it might have remained a private tragedy. But it wasn't. It was buried—and every person who joined the conspiracy after the fact, whether through silence, cowardice, or greed, helped build the machine that is now dismantling families.

Craig and Inga Housley were in direct contact with Dave Koch during November and December 2023, fully engaged in Facebook messages, email threads, and phone conversations about the 2003 fraudulent acquisition of Fiber Network Solutions by Cogent Communications. Craig Housley was not a stranger—he was a former flying partner of Koch's during his professional aviation career, with a 35-year personal and professional history between them.

Koch shared the documentation he had compiled as of 2023—including Exhibit 2.5, which had been stripped of its schedules, left unindexed, and concealed in Cogent's S-1 registration under the vague label of a "miscellaneous asset purchase."

Despite Koch's explicit instructions not to contact Cogent, the Housley's disregarded that warning and forwarded Exhibit 2.5—along with clear signals that Koch was beginning to uncover the fraud. Alarms were triggered inside Cogent. Kyle Bacon, Cogent's former CIO, was brought into the discussion.

The Housley's were offered a quick reprieve from their immediate financial struggles—accompanied by the promise of a life-changing payout to follow. All with one caveat—no further contact with Dave Koch or discussion regarding Cogent's fraudulent acquisition of FNSI. The sequence that followed speaks for itself.

Despite a 35-year professional and personal relationship with Koch, Craig Housley chose not to stand with truth or accountability. Instead, he aligned himself with the very criminal enterprise he knew had preyed on a medically incapacitated friend—and in doing so, he re-victimized the victim—someone he once claimed to respect.

"Craig's decision went beyond what most people would recognize as moral depravity. It was an ethical collapse of character so total, a betrayal so deep—so callously transactional it reaches the depths of what can only be characterized as an ethical and moral nadir. I've never witnessed anything like it in my life."

— David J. Koch

Housley now faces a stark choice: protect his children's futures—or continue shielding a criminal enterprise. The federal repository already holds more than 2.3 gigabytes of forensic evidence: emails, texts, phone logs—enough to indict, prosecute, and convict.

"The Housley's didn't just look the other way—they re-victimized someone who had already been exploited while medically incapacitated."

— Chris Myers, former Vice President of Administration, Fiber Network Solutions

At this juncture, the Housley family, and Cogent's Board members are likely confronting a devastating truth: Kyle Bacon's entire adult identity was a fabrication. He was never the founder of Fiber Network Solutions, never the prodigy who built it from the ground up.

A forensic review of Cogent Communications' SEC filings from March through June 2025 reveals a sustained and deliberate pattern of omission. Across five Form 8-Ks, one Form 10-Q, one S-8 registration statement, and internal governance documents—including the company's Code of Ethics and Board roster—Cogent failed to disclose key information relating to the acquisition of Fiber Network Solutions and the whistleblower disclosures.

The only appearance of the word "whistleblower" across all filings is buried in the boilerplate of Cogent's Code of Ethics—a generic, legally safe reference with zero connection to the live federal matter at hand.

Even after receiving direct legal notice and facing public exposure through multiple news releases, Cogent made no disclosure whatsoever—not in the corresponding 10-Q nor in any 8-K that followed.

This is no longer passive omission. It is an active, documented strategy of concealment—a continuing predicate act under the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §1962.

Public silence does not equal private peace. The walls are closing in. Those who once believed this crime could remain buried have now jeopardized their own families, reputations, and legacies.

This is not a threat. It is a message, a lifeline—and a warning. The truth will not stop knocking, no matter how many doors stay shut. And when the next generation asks what you did to stop it, silence will not be a defensible answer.

Every person involved—even tangentially—has a decision to make.

➤ Tell the truth — and risk the fallout
➤ Protect the lie — and risk everything else

Because at this stage, silence is no longer ignorance.
It is complicity.

***

CONTACT:
David J. Koch
Federal Whistleblower
President, CEO & Chairman
Fiber Network Solutions, Inc.
https://FiberNetworkSolutions.net

FORWARD-LOOKING STATEMENT AND LEGAL DISCLAIMER
This release includes references to public records, regulatory filings, and whistleblower submissions already provided to federal agencies. All individuals named are presumed innocent unless and until proven guilty in a court of law. The statements herein reflect the firsthand knowledge and good-faith belief of federal whistleblower David J. Koch as of July 1, 2025, and may be supplemented or revised as new facts emerge or investigations progress.

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250701.pdf

What this document is about: This news release describes escalating scrutiny surrounding the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI) by Cogent Communications Holdings, Inc. (NASDAQ: CCOI). The document summarizes whistleblower disclosures, forensic web activity, and legal notices delivered to regulators, investors, and corporate leadership, asserting that multiple federal agencies are reviewing evidence related to the transaction and subsequent concealment allegations.

FOR IMMEDIATE RELEASE

July 4, 2025
CONTACT:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

BREAKING: FEDERAL SCRUTINY OF COGENT COMMUNICATIONS ESCALATES AS LEGAL INVESTIGATIONS MULTIPLY

NATIONAL WHISTLEBLOWER CASE REACHES IRREVERSIBLE MOMENTUM AS FORENSIC AND LEGAL EVIDENCE MOUNTS

WASHINGTON, D.C. — July 4, 2025 — The whistleblower case surrounding Cogent Communications (NASDAQ: CCOI) concealed acquisition of Fiber Network Solutions, Inc. (FNSI) has now entered a critical and irreversible phase. With new institutional and federal activity observed in real time, the case has reached a threshold that legal observers are calling the "point of no return."

A recent AI-generated summary now appearing at the top of Google search results confirms what insiders already know: Cogent Communications is under active investigation. Multiple agencies—including the DOJ, SEC, IRS-CI, and FINRA—are engaged. The whistleblower's allegations, which document a 22-year concealment tied to the 2003 FNSI acquisition, are now being actively reviewed by both regulators and institutional stakeholders. The Google search clearly shows how the whistleblower claims are being algorithmically consolidated and amplified.

Independent Cloudflare analytics, email read receipts, and raw server logs confirm:

• Cogent's board of directors has accessed and revisited the whistleblower materials—including in the overnight hours between July 3 and July 4.
• Federal agencies have received and are circulating core documents, including SEC, IRS, and DOJ-relevant materials.
• Institutional investors, journalists, and litigation groups are conducting independent reviews of the case file.

Months of public releases, memorandums, and legal notices are now part of the evidentiary archive.

Included in the archive:

• Recent forensic screenshots documenting federal and institutional activity
• Updated July news releases and evidentiary filings
• Core whistleblower documents now under review by federal agencies

The emergence of Exhibit 2.5—now widely recognized as a smoking gun—combined with Cogent's ongoing failure to correct material omissions in its SEC filings, has significantly heightened legal exposure under federal law.

While more than a dozen predicate acts have already occurred—each sufficient to reset the statute of limitations under federal law—the specific question of whether Cogent's handling of Exhibit 2.5 and its concealed schedules independently resets the clock remains a matter for judicial determination.

Legal analysts note, however, that the continued concealment of Exhibit 2.5's schedules—especially in the face of formal legal notice—may constitute predicate offenses under 18 U.S.C. §§ 1001 (false statements), 1341 and 1343 (mail and wire fraud), 1519 (obstruction of justice), and 371 (conspiracy). If these omissions are found to be knowing and willful, they could trigger statute resets and extend prosecutorial timelines accordingly.

Board members who believed silence could serve as a shield may soon find that same silence marked and logged as deliberate concealment. The clock has been reset—this time, against them.

Silence is no longer plausible deniability—it's traceable complicity. The agencies monitoring your decisions know the difference.

This release is being sent directly to:

• Cogent Communications' full board of directors and senior leadership
• Federal agency contacts monitoring the Updates folder
• Institutional investors and SEC compliance analysts
• Whistleblower archives, watchdog organizations, and national media

The whistleblower behind these disclosures stands by every word, every timestamp, and every document.

Correct the record—or prepare to be named in it.

CONTACT:
Fiber Network Solutions, Inc.
[email protected]
https://FiberNetworkSolutions.net

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250704.pdf

What this document is about: This news release presents a public statement by Fiber Network Solutions founder and federal whistleblower David J. Koch concerning the ongoing dispute involving the 2003 acquisition of Fiber Network Solutions, Inc. (FNSI) by Cogent Communications Holdings, Inc. (NASDAQ: CCOI). The document discusses prior legal notices delivered to Cogent leadership, summarizes responses from Cogent Chief Legal Officer John Chang, and describes continuing investigative interest from federal agencies and financial watchdogs.

FOR IMMEDIATE RELEASE

July 5, 2025
CONTACT:
Fiber Network Solutions, Inc.
[email protected]
(614) 364-4085
(Kindly Text or Email First)

WHISTLEBLOWER CEO DECLARES: "COGENT'S COLLAPSE WAS INEVITABLE — YOU JUST DIDN'T EXPECT ME TO SURVIVE"

WASHINGTON, D.C. — July 5, 2025 — In a searing new statement, whistleblower and original Fiber Network Solutions founder David Koch draws a sharp line between what Cogent Communications tried to bury — and what is now rising in public view.

"What Cogent's Board of Directors, executive leadership, employees, investors, lenders, and vendors have now witnessed is the unmistakable difference between a group of cowards I once worked with and trusted — who thought they had buried a body so they could line their pockets, and then let Cogent plant a flag — and a real corporate Chief Executive Officer. One built on stolen ground. The other built the ground itself."

— David J. Koch

Koch's remarks come amid a wave of escalating interest from financial watchdogs, media investigators, and federal law enforcement following the June 17 release, and his earlier submission of a classified 160-page whistleblower evidentiary dossier submitted to the FBI, SEC, IRS-CI, FAA and the U.S. Attorney for the Southern District of Ohio, Columbus Division.

A growing body of digitally verified evidence is housed at the official whistleblower's website as well as over two gigabytes of forensic evidence housed privately for investigator and prosecutor eyes only.

The site includes archived documents, internal emails, forensic schedules, and SEC-related filings detailing how Cogent Communications — under now-embattled CEO Dave Schaeffer — acquired Fiber Network Solutions in 2003 through what Koch asserts was an unlawful and concealed transaction while he was medically incapacitated.

Koch states that Cogent's current crisis was not unforeseeable.

"This was not an ambush. They were given every opportunity to course correct."

— David J. Koch

According to records released by Koch, and available on the whistleblower's official website, he provided over thirty-five legal notices, memorandums, public releases and good-faith warnings since March 2025, offering multiple lawful off-ramps to mitigate Cogent's liability and reduce exposure for its board.

"And the best Cogent could muster in response?" Koch said. "Two terse dismissals from John Chang, Cogent's Chief Legal Officer. That's it. Two short emails – reprinted below — which now serve as Exhibits A and B in the criminal investigations into Cogent, its board members, and executive leadership."

"Mr. Koch

Cogent has received a number of emails from you. We deny any wrongdoing with respect to the FNSI acquisition that occurred over twenty years ago. We believe you have no factual or legal basis to support your allegations. We will vigorously defend ourselves against any frivolous claims.

You should not expect responses to your future correspondence. We will reply if and when we believe a reply is warranted.

John Chang
Chief Legal Officer
Cogent Communications"

"Mr. Koch:

I have received this message as well as your prior correspondence. As I have said previously, we are not aware of any misconduct by Cogent or its people. While we respect your right to raise your concerns, including with external regulators, we urge you to avoid further unwarranted harassment of members of our Board and others affiliated with Cogent.

With respect to your request for specific documents and information set out in your letter, you are not entitled to those materials and we are not obligated to provide those to you. Thank you in advance for your understanding.

John Chang
VP and Chief Legal Officer
Cogent Communications Holdings, Inc."

These brief communications, Koch argues, were not only dismissive but legally reckless — now standing as demonstrable proof that Cogent's leadership was notified of the allegations, the evidence, and the opportunity to act, but chose silence and stonewalling instead.

"What we are watching now is not an overreaction. It is the long-overdue ignition of accountability, lit by those who believed I was never supposed to rise."

— David J. Koch

Further developments are expected Tuesday when Koch will release revealing audio recordings of conversations with Craig Housley, a former aviation colleague who re-entered the story in late 2023 and is now under investigation for his participation as a member of the criminal enterprise and a key link in the chain of concealment.

Visit the official whistleblower website for the complete public archive, official documents, and upcoming disclosures.

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/ewExternalFiles/NewsRelease20250705.pdf

What this document is about: This formal notice informed Craig Housley and Inga Housley that they had been named in a federally protected whistleblower report under review by the U.S. Attorney's Office. The letter outlines their re-engagement in late 2023, subsequent contact with Cogent Communications, and alleged participation in post-2023 concealment activities, including potential evidence deletion and undisclosed payments.

David J. Koch
Federal Whistleblower
502 W. Montgomery Street
PMB 578
Willis, Texas 77378

May 2, 2025

VIA ELECTRONIC MAIL
[email protected]
[email protected]

Mr. Robert Craig Housley
Mrs. Ingeborg L. Housley

Dear Craig & Inga:

Pursuant to 18 U.S.C. § 1513(e), this letter serves as formal notice that you have been named in a federally protected whistleblower report under review by the United States Attorney's Office for the Southern District of Ohio, Columbus Division. The report—now exceeding 160 pages—is an evidentiary document that fully details a 22-year criminal conspiracy tied to the fraudulent acquisition of Fiber Network Solutions, Inc., and includes your participation beginning in December 2023, with continuing predicate acts documented through 2025.

You are further identified by name on the public record at:
https://FiberNetworkSolutions.net/the-fraud.html

published under protection of 18 U.S.C. § 1514A (Sarbanes-Oxley), 18 U.S.C. § 1513(e) (Retaliation Against a Whistleblower), and relevant statutes under the Dodd-Frank Act and the IRS Whistleblower Program. This disclosure is both public and submitted to federal authorities and is preserved as evidence of your presumed awareness.

The report specifically cites:

• Your re-engagement with me in November 2023 following a 20-year gap;
• Your acknowledgment that I was defrauded, and that such fraud occurred while I was medically incapacitated;
• Your stated interest in contacting Cogent Communications, followed by a sudden silence and deletion of digital evidence;
• A suspected payoff received by you and Inga Housley, and a nondisclosure agreement executed in connection with that payment, both of which may constitute furtherance of a conspiracy to obstruct justice and violate multiple statutes, including:

• 18 U.S.C. § 1512(c) (corruptly concealing, altering, or destroying records or information in an official proceeding);
• 18 U.S.C. § 371 (Conspiracy to defraud the United States or obstruct lawful government functions);
• 18 U.S.C. § 1001 (making materially false, fictitious, or fraudulent statements or concealing material facts);
• 18 U.S.C. § 1962(d) (Conspiracy to violate RICO);
• and if any payment crossed state lines or involved structured funds: 18 U.S.C. § 1343 (Wire Fraud) and 18 U.S.C. § 1956 (Money Laundering).

Federal law recognizes ongoing acts of concealment, tampering, and conspiracy. Your conduct since December 2023—including evidence deletion, refusal to cooperate, and presumed acceptance of undisclosed payments—falls within the scope of 18 U.S.C. § 371 (Conspiracy), 18 U.S.C. § 1512 (Obstruction and Witness Tampering), and 18 U.S.C. § 1962(d) (RICO Conspiracy).

Because you have joined a 22-year ongoing criminal enterprise, every member of that conspiracy—regardless of when they became involved—is liable for every criminal act committed by every other member of that enterprise, from the date of its inception. See Pinkerton v. United States, 328 U.S. 640, 646–47 (1946); United States v. Salinas, 522 U.S. 52, 63–65 (1997); United States v. Turkette, 452 U.S. 576, 583 (1981).

At this stage, the path forward is not about what happened in 2003. It is about what each person is choosing now. You are not the architect of this scheme—but if you delay while others cooperate, you may find yourself excluded from every protection the law might otherwise afford.

I strongly urge you to provide a copy of this letter and the linked public disclosure to your attorney. If you are still relying on legal advice from anyone other than an attorney you are personally paying to represent you independently from any of your other new friends—and if you have not told your attorney the unvarnished, absolute truth—you are making irreversible decisions that may foreclose your legal options.

If, after reading this, you feel compelled to contact me, your attorney would strictly advise against that. One of your new-found friends is going to make a proffer to save herself. That is imminent. After that, your door is closed, and you will pose no value to the U.S. Attorney as a witness—you will be a defendant.

If you are under any delusions that you're hiding anything, you will be astonished with the tools and technical capabilities of the IRS-CI, and what is already known and documented.

Finally, in December 2023, I gave you counsel that there was not then adequate evidence to make contact with Cogent with the hope that you would be on the team that fully discovered the truth, and the benefits thereby accorded to those team members. You discarded that counsel.

At this juncture, you may have realized that the counsel I have provided to you has always been generally accurate. I leave it to your discretion whether you accept any implied counsel contained herein.

As always, I wish you well.

Sincerely,

David J. Koch
Federal Whistleblower

PDF Archive: Download this PDF file at: https://fibernetworksolutions.net/Exhibits/20250625/Notice_Craig_and_Inga_Housley.pdf

What this document is about: This formal notice places the Board of Directors and Chief Legal Officer of Cogent Communications on notice regarding the missing schedules referenced in Exhibit 2.5 of the Fiber Network Solutions acquisition agreement. The notice requests immediate production, or a detailed written explanation, of the omitted schedules and related records.

Document Type: Formal Notice / Records Request / Preservation Demand

Date: May 16, 2025

Author: David J. Koch, Federal Whistleblower

Recipient: The Board of Directors and John Chang, Chief Legal Officer, Cogent Communications

Subject Matter: Formal request for missing schedules referenced in Exhibit 2.5 of the Fiber Network Solutions acquisition

Original PDF: Cogent On Notice20250516.pdf

David J. Koch
Federal Whistleblower
502 W Montgomery St
PBM 578
Willis, Texas 77378

VIA ELECTRONIC MAIL

May 16, 2025

The Board of Directors
and John Chang, Chief Legal officer
Cogent Communications
2450 N St NW
Washington, DC 20037

Subject: Formal Request for Missing Schedules Referenced in Exhibit 2.5 of the Fiber Network Solutions Acquisition

Ladies and Gentlemen:

Pursuant to my standing as a federally protected whistleblower under 18 U.S.C. § 1514A (Sarbanes-Oxley Act), 18 U.S.C. § 1513(e) (Whistleblower Retaliation), and the IRS Whistleblower Program, I am formally requesting immediate production of the omitted schedules referenced in Exhibit 2.5 of the acquisition agreement between Cogent Communications and Fiber Network Solutions, Inc.

The document in question—Exhibit 2.5—is part of a larger evidentiary submission currently under active review by the IRS Criminal Investigation Division, the Securities and Exchange Commission, the Federal Bureau of Investigation, and the U.S. Attorney for the Southern District of Ohio.

Exhibit 2.5, as filed with the SEC, includes a placeholder explicitly stating: "THE FOLLOWING SCHEDULES AND EXHIBITS HAVE BEEN OMITTED FROM THE ELECTRONIC FORMAT OF THIS DOCUMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION."

That language directly implies the existence of a more complete version, whether in physical or alternative electronic format, and therefore triggers an obligation to produce any and all such records. The omitted schedules are believed to be material to the original acquisition, and may include details regarding:

• Copies of Schedule A: Assumed Contracts; Schedule B: Assumed Liabilities; Schedule C: Releases; Schedule D: FNSI NOC Inventory Detail; AttachmentA1 B2: Customer Contracts; Exhibit 1: Form of Option Agreement; and all related revisions, notes, emails, and any reference to these schedules from any person inside Cogent or having any interest in FNSI or the acquisition.
• Executive compensation and bonuses,
• Ownership structures and contingent liabilities,
• Deferred compensation, option agreements, or hidden beneficiary arrangements,
• And documentation tied to unexercised FNSI stock rights, including those connected to Craig Housley.
• Given recent predicate acts and evidence of continuing concealment, these omissions are now potentially actionable under 18 U.S.C. § 371 (Conspiracy to Defraud the United States), 18 U.S.C. § 1512 (Obstruction), 18 U.S.C. § 1001 (False Statements), and 18 U.S.C. § 1962(d) (RICO Conspiracy).

I am therefore requesting, in good faith and in full alignment with federally protected public interest disclosures, the immediate production—or a detailed written explanation—of all schedules and exhibits expressly omitted from the SEC-filed electronic version of Exhibit 2.5, including any version retained in physical, legacy digital, or internal-only formats. This request includes, but is not limited to, identification of any Cogent officer, legal counsel, or third-party advisor who reviewed, redacted, or authorized the omission of those schedules prior to or following submission to the Securities and Exchange Commission. Further:

1. Whether these schedules exist in Cogent's internal or archived records;
2. Whether they were reviewed or relied upon in the original transaction or subsequent SEC filings;
3. Whether their omission was intentional, inadvertent, or based on any NDA, payoff, or related concealment;
4. Whether any parties currently or formerly associated with Cogent have knowledge of or access to these schedules.

This notice also serves as a formal preservation demand for all digital and hard-copy documentation related to:

• The creation, revision, or redaction of Exhibit 2.5;
• Internal communications regarding the FNSI acquisition, including emails, memos, drafts, and legal counsel reviews;
• Communications with or concerning Craig Housley, Inga Housley, Vince Bacon, James Bacon, Kyle Bacon, Diana Ritchie Thomas (formerly Anderson), Emily Foor, William J. Kelly, Esq., David W. Wood, Esq., or Robert Ellis, Esq.

Failure to respond to this formal request—issued by a federally protected whistleblower and tied directly to an active case under review by the IRS Criminal Investigation Division, the SEC, the FBI, and the U.S. Attorney's Office—may constitute furtherance of an ongoing obstruction scheme under 18 U.S.C. § 1512 and 18 U.S.C. § 371.

Your organization has now been formally placed on notice of the materiality of the missing schedules referenced in Exhibit 2.5, and any refusal to acknowledge or produce those records will be preserved in the case file as evidence of concealment and potential interference with a federal proceeding.

Please be advised that any unauthorized distribution of this notice to individuals named herein—or to any internal parties reasonably believed to be aligned with or potentially participating in the criminal enterprise as documented in the referenced submissions—may constitute a new predicate act in furtherance of the conspiracy under 18 U.S.C. §§ 371, 1512, and 1962(d).

I strongly encourage your team to treat this request with the same gravity that federal agencies have already assigned to the matter. This is not a civil inquiry—it involves a criminal conspiracy under active review by the IRS Criminal Investigation Division, the SEC, the FBI, and the U.S. Attorney's Office for the Southern District of Ohio.

Your organization's handling of this request, including any failure to respond, any internal distribution to co-conspirators, or any attempt to suppress or reroute accountability, may be interpreted as furtherance of obstruction or concealment under federal criminal statutes.

I intend to make this request, and any response—or silence—a formal part of the evidentiary update trail preserved within the ongoing federal case file.

Respectfully,

David J. Koch
Federal Whistleblower
(614) 406-9766
[email protected]
[email protected]