Appreciate the posting...In evaluation of a trade or investment, certain information should be sought about the entity the trade or investment being pursued..
To dismiss the information found in the PETITION as "some good ol boys didn't realize they had to be public and registered with the SEC before finding investors" and "it is pretty irrelevant really" is somewhat premature and mistaken.
As disclosed in item 16 of the petition, the so-called good ole boys DID KNOW that they had been directed to cease and desist offering unregistered securities being pedalled in North Dakota on September 21, 1990.
Despite that cease and desist order, Robert Widner failed to disclose to Wisconsin investors that material fact in a letter to them dated November 9, 1990 a mere 6 weeks after the North Dakota cease and desist order. He did this because "they" had done "their research" and believed the Arbco contract WAS NOT A SECURITY"
items # 7,11,12, 13, 14, 16, and 17 of the petition need to be read in conjunction with one another and digested..
these actions go to credibility and compliance with the law
----OF COURSE THESE ARE MY OPINIONS AND VIEWS ONLY---
