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Tuesday, January 06, 2015 12:45:43 PM
CEO Brad knows the hammer is about to fall and he is desperately trying to hold the wolves at bay and feast on the shareholder dime at the same time. He pulled the same stunt recently according to the Bankruptcy filing documents of which I posted screen shots recently.
He gives back $90K of the company's money that he "forgot" to tell them he "borrowed" and takes a $500K cash bonus in return.
He buys $100K worth of stock on the open market and at the exact same time takes $7m in free grants.
I believe he reported fraudulent numbers with BB.com and now he stopped reporting returns (a proven smoothing technique to hide channel stuffing) and revenues have fallen over 20% immediately. Now he had to sell that merchandise at a loss to Sam's Walmart.
Sydney Rollock knew this I strongly believe and that is why he unexpectedly ran and distanced himself as quickly as possible and CEO Brad gave him a $1m of company funds to keep quiet.
I called it on this board 1 full week before Syd resigned. Go look. It's clearly archived on this board. Syd may have read my post and acted upon it. If Syd didn't run, victims (investors) can claw back his compensation had he stayed. That is very similar to the current situation where nearly all the independent directors at Herbalife have resigned and Carl Icahn had to appoint his stooges and grant financial immunity. There is potential liability there.
It's like those supermarket stunts where a selected shopper gets 2 minutes to pluck as many goods off the shelves as possible but with CEO Brad the cops are in the parking lot getting ready to arrest him for shoplifting.
The SEC is not a rumor. It is a fact.
CEO Brad as a scammer is not a rumor. His Bankruptcy is a fact.
History will repeat itself again.
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