Except that the 33 years was in the Canadian exempt market. A very different animal from the US public markets and even the Canadian public markets. If Gallowai had been a public company, there is little chance it would have gone on for 33 years and have been able to "mine" $230 million dollars from investors pockets. It also would not have allowed the promoter to keep 100% of the voting stock, which allowed him to not only hide all important details from investors, but actually countersue (and win!) when some of those investors pressed him for some answers about their money.
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