Trio Resources Inc (TRII)

[DragonBear]

So essentially what you are saying is that he milked every last dollar out of everyone and everything...

No I'm saying he flocked up before he could.

Duncan-Jeffy's likely goal when he started the scam was to use it to cover expenses for his hobby horse mine. While giving himself a $200K/yr salary. Expenses more than revenues? No problem issue some more convertible debt notes for cash. Later the debt notes convert, and dump. Repeat over and over. The usual Microcrap nonsense. The net result is what was economically non-feasible to produce, becomes feasible with retail stock dreamers covering the operating expenses.

Somewhere along the way he flocked up. Who knows, maybe the PCAOB received a complaint about the claimed valuations. Naa, that would never happen! LOL Or a past indiscretion of saying one thing in a PR, and not accounting for it in a 10K caught up to him. With his lawyers advising him to go dark.

IMO, it didn't last long enough to do maximum damage to the retail dreamers. However, there's probably a few Microcrap debt note holders not too pleased they can't dump. Then again, Microcrap debt note holders are typically slime balls. No better group than to be left holding Duncan-Jeffy's financial bag.