InvestorsHub Logo
Followers 9
Posts 732
Boards Moderated 0
Alias Born 04/27/2011

Re: Sparklefarkle post# 31834

Monday, 11/02/2015 2:33:21 PM

Monday, November 02, 2015 2:33:21 PM

Post# of 33394
So do I believe Farky or the Trial Court Judges? Is Mr. Iehab "Jobs-like" or a thief "looting" corporations?

In the Playsafe case (vs United Medical) the appellate court upheld the following statement from the trail court:

"In granting the motion, the trial court concluded that “the evidence that Hawatmeh and Nora abused the corporate structure of [PlaySafe] to, in effect, operate it as their personal bank account is overwhelming. They effectively looted the corporation by taking out more than $1 million in loans over a 13 month period rendering Play[S]afe effectively insolvent. Indeed, Play[S]afe had only been capitalized with a total of $700,000. The suggestion that these loans were approved by ‘independent directors’ is belied completely by the evidence.”

I will trust the Trial Court judges.

btw, the stock price has not been $.01 since 2009. Wishful thinking since Circ has no operations.