Like I've said in the past ...
I don't think he's a con man. I'm not even certain he's lied. I argue he's intentionally mislead, as lawyers are very skilled at. You and I can argue semantics all day long but to me, misleading and lying are not the same thing.
Like a magician. Does the magician outright lie or does he just intentionally misdirect the audience to come to a desired , albeit wrong , conclusion.
It's ok for a magician to mislead; it's ok for an attorney to distract and mislead in defense of their client. As long as the attorney does not outright lie (or at least get caught )
In my opinion, it's very much NOT ok for a CEO to continuously give his shareholders false hope and withhold material information for years.
Shareholders that may have construed such info as "bad news" but it would have allowed said shareholders to make an informed decision as to whether or not they remain invested. It's not ok for a CEO to withhold material info just because it's bad news that could make a stock go down.
As I've previously said , it's my opinion that Kim intentionally withheld material information when he did not disclose for over two years that he had abandoned the plant and had not produced silk. I believe he intentionally withheld this information while KNOWING that many shareholders thought he was producing metric tons. What makes it material info ,imo, is he had previously PR'd the plant and silk production which then requires him to also disclose the subsequent decision to shut down the plant.
In those two years , I know that many shareholders had contacted the company and Ben and asked that question about metric tons directly. I know this because it was discussed on this board by many at the time. I also know this as I was one of the shareholders who directly asked "Is the company producing metric tons" or "is the company producing silk". And I think we all remember Bob insisting the company was producing metric tons for a long time.
I never got my questions answered and obviously Bob and others did not either.
How could anyone argue that this was not deception by the company ?
We've had this argument before however so it's all pointless. It is what it is. Like a bad movie I don't even like , I'm still going to sit thru until the end to see what happens.
I'm just happy I unloaded half my shares.
