WHSI's Barry Honig and the "wrong crowd"----The last sentence is the most interesting imo. Honig and Noel go way back. Interesting that Ron is the intersection of the two fine, upstanding guys. Joseph Noel is a confessed criminal. The SEC takes a lot of time but almost always get the bad ones. Interesting read.
Summary
Frost mixed up with “the wrong crowd” as Barry Honig and Michael Brauser have spun a tiny struggling debt collections business, acquired with $5.7m cash, into temporarily inflated ~$200m shell.
Chairman Brauser's biography has “interesting” omissions including bankruptcy, wipeout, and fraud lawsuits, with Equifax suing him alleging “fraudulent misrepresentations” with Softbank lawsuit alleging "various frauds".
IDI stock temporarily inflated from extensive yahoo message board stock-pumping scheme, touting IDI across dozens of boards with interconnected aliases, similar to halted and bankrupt FNRG.
IDI’s Transunion lawsuit could mean instant $0 for stock as IDI future apparently based on IP they don’t own, which Transunion acquired when IDI CSO Poulsen's last company went bankrupt.
Confluence of temporary factors above have inflated IDI stock to the obviously unsustainable valuation of ~$200m or >40x revenue, creating imminent -92.4% downside in "best case" scenario.
I believe Idi Inc. (NYSEMKT:IDI) is another worthless Brauser and Honig wipeout. This famous wipeout team has joined forces to temporarily resuscitate a fraud ridden shell with a tiny debt collections firm, acquired with $5.7m cash payment, to the unsustainable valuation of $200m or >40x revenue. In what appears a desperate attempt to salvage his failed fraud shell, Frost has clearly gotten involved with the "wrong crowd" and regrettably stained his reputation through association with what I believe is one of the worst penny stock wipeout teams in America.
Brauser's biography conveniently "forgets" to include a long track record of fraud lawsuits, bankruptcy and shareholder wipeouts. While touting involvement in Naviant, Brauser neglects to mention he was apparently sued by data fusion giant Equifax (NYSE:EFX) for allegations including "fictitious receivables" and by Softbank for "various frauds" with apparent multimillion dollar payments to Equifax. Shockingly, the Naviant debacle barely scratches the surface and Barry Honig's background looks even worse.
Everything I write is my opinion based on what I read from the companies I post about. Decide for yourself because it's your money.
