I think most are missing the point. Corley is doing fine, He has done exaxtly as he intended to do from the beginning. He used other people's money to set himself up in business and has no intention of sharing the success with those he defrauded. He can get away with this because he is certain that penny stock investors will NOT act unitedly. It doesn't matter that shareholders have enforcable rights if shareholders do not make the effort to get those rights enforced.
Just a thought, but if it were me, I'd organize a group of 5-10 people to explore the options and begin to take some action. One of the first things i would do is make complaints to the SEC. Let the group determine what complaints are valid. Then have multiple shareholders contact the SEC about those complaints The second thing I'd do is contact a securities attorney for his/her evaluation and definitely have them send Corley a threatening letter.
Since I have actually sued a penny stock before (and won), I know it can be done. Especially when we know the company is making money and i doubt that Corley wants all the bad press, expense and time hassle it would cause.
IMO, there is no sense in waiting. I don't believe that writing Corley or politely requesting action/justice will do anything but give Corley more time to circle the wagons. If he had any intentions of doing honorable things, he would have done them by now.
"Libenter homines id quod volunt credunt"
