For the future keep in mind the XLIT approach is very common among the penny stock promotions, i.e. announce a new "invention" or "product", which realistically has no viable commercial application, but tout it as the greatest thing that ever existed! By taking this approach, guys like Jsmes Schramm can always claim "I really thought it was a great idea", with the hope of defending themselves against being accused of actually promoting a scam. Basically, the scam artists can simply plead "innocence", i.e. "I just made a mistake", and there's no law against being an dimwit! It happens over and over and over!
If you intend to continue trying to invest in penny stocks (actually all equities for that matter), it is absolutely critical to do your own DD to understand the product and its commercial value. IT IS WORK!!! And this is exactly why so many of the scam artists are successful in fleecing investors! Big shock...people can be lazy! Beware of all the Pinks and completely ignore those that are designated as "non-reporting"! "Traders" will pump & dump these fine beauties, but real investors need to look elsewhere! IMO...most all penny stocks are pretty shaky, but it takes a deep investigation to understand when there is actually a potential for success! If it is something you don't understand, walk away!
AGAIN, BEWARE OF PENNY STOCKS THAT ARE CLAIMING TO HAVE DISCOVERED A REVOLUTIONARY PRODUCT OR IDEA! THE UNSCRUPULOUS WILL LIE! DON'T SHORT CUT THE DUE DILIGENCE BEFORE HANDING SOMEONE YOUR HARD EARNED CASH! HERE IS A GOOD RULE TO FOLLOW...ASSUME THE PROMOTER/COMPANY IS LYING AND/OR MISSTATING THE SITUATION, THEN DO THE DD TO PROVE OTHERWISE!
