Livewire Ergogenics Inc (LVVV)

[Jason Coombs]

That's the nature of startups. Many pinks have billions of shares in the float. Bill either finds alternative funding to sustain operations or dilutes.

Totally legal

Not exactly correct. The nature of startups is to attempt to grow value for stakeholders, which yes does frequently legitimately involve a burn rate and a period of unprofitability such as LVVV has produced since it began.

What reason do you have to believe that Bill Hodson is attempting to create value for stakeholders? It absolutely is criminal fraud if Bill Hodson has no intention of doing any such thing, isn't even really trying to grow anything, and if he is just making use of the registered shares of LVVV as an "artifice to deceive" -- this is the essence of the criminal charges now pending against the former director of LVVV, Richard Weed, in an unrelated enforcement case.

I have always been a vocal proponent of Bill Hodson's inalienable right to work on his startup and make his own mistakes, publicly. But I keep searching for any glimmer of hope or any evidence that there actually is any work being done and sorry but I just don't see it. Nobody is more disappointed about this truth than I am.

As holder of 5,000,000 Common shares of ADIA it was my expectation, on the basis of explicit promises made by several people, that LiveWire was growing into a meaningful company with legitimate sources of capital. Some well-known people were supposed to be growing the business with Bill Hodson. I personally spoke to one of them and listened carefully to what Bill had to say before deciding that I would trust him to do as he said he was going to do.

What he did instead, apparently, was publish false press releases and pump up the stock price in order to help certain people exit at a profit leaving public shareholders holding catastrophic losses. This looks exactly like criminal fraud to me, though I would be happy to be proven wrong.