Well, of course, we should now expect some new "research" from one specific poster that besmirches this most recent purchaser of the shares rather than an acceptance of the possibility that someone did their due diligence before buying.
BTW what we are seeing is consistent with the actual role that Crisnic took on which is that they themselves do not buy the stock, but rather that the arrange for the purchase and line up the buyers as a private placement. What I believe went wrong in this affair, vis-a-vis Crisnic is that they made the deal at about $2.04 per share (see below) and, as the stock price plummeted, the money people that Crisnic had lined up would not agree to putting their money into the pool as the price approached that price, let alone thereafter.
If you check the date that SEC approved, it was still pretty good, but......
Fairfield, CT - (June 2, 2010) - Competitive Technologies, Inc. (NYSE Amex: CTT) today announced that it has signed an agreement to raise over $5 million by selling 2 million shares of equity to Crisnic Fund, S.A. based on a 15% discount from the volume weighted average price on the date the SEC declares the registration effective, as detailed in the 8-K being filed today
What is not clear is whether Crisnic was legally obligated to purchase all the shares they had committed to or whether they could bail, as they appear to have done. We do know they paid some money and got about 1,600,000 shares. Sadly at far less than Nano had counted on when he made the initial deal, i.e., getting about $5 million.
AI
