Case summary
On May 16, 2025, the Washington State Department of Financial Institutions Division of Securities entered a Statement of Charges (S-21-3226-25-SC01) against Creative Technologies, LLC; Water Station Management LLC; WST Franchise Systems LLC; Ryan Wear; Kevin Nooney; Dick Humphrey; Kristi Humphrey; Nick Streeter; Wan Kim; FranServe, Inc.,.
Order details
Order File: S-21-3226-25-SC01
Laws & Rules: RCW 21.20.010, RCW 21.20.040, RCW 21.20.140
Penalties/Remedies:
Intent to order: Cease and desist; Fines & costs
Allegations
- From approximately 2016 to 2022, Water Station, Ryan Wear, and various salespersons offered and sold unregistered securities in the form of a water vending machine purchase coupled with a service contract.
- Nationwide, at least 171 investors spent more than $129 million on this investment. At least 10 Washington residents invested approximately $11.2 million.
- Water Station and its salespersons failed to disclose material information related to the investment, including the number and location of its water vending machines. Of the nearly 15,000 machines investors purchased, just over 6,000 existed.
The Respondents have a right to request a hearing on the Statement of Charges.