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I predicted it almost 2 years ago.
The commons are worthless and if they were worth something at all, I was the next one after Annon to get the company. (See my previous remarks).
The only way that Bion will ever be worth anything worth suing is when the company will find an investor stupid enough to invest in them.
Than, I intend to sue for my stolen shares and can join the rest of the shareholders in suing Carlos and the board members for illegal actions taken...
The consultants duty was to steal our money.
It was $440,000 in total; two payments of $220,000 each. In the 1st quarter of last year, Bob Brown urged / demanded that BioNitrogen Plant FL Taylor partner with a group out of Texas. The group was paid $440,000 out of the $5 million city of Perry loan. This Texas group never performed from what I can gather. I am sure Carlos and Bob could be looking at jail time the way that deal was handled. It never smelled right. Even lawyers for BION advised Carlos and the board to not do the deal. But Carlos did it anyway without board approval. Let's guess why he did it...
He has been in "working" with Carlos for a while, especially when Bion got funding from him to "pay" finder's fee and strategic advise that cost the company $200k a month to unknown entities. Of course no money came in (not to the company) and now they are bankrupt. If you think BK. was doing illegal things, think again, Carlos is mastermind behind all the illegal action taken in Bion and in particular in the last 12 months since BK was removed from the board and the company.
He is still the chairman of the board
It's graham-copley.
You should not read so many science fiction books...
It's all over for them if they will not raise any money.
If somehow they will manage to raise few millions, I will be very happy as I will be able to sue them for everything they got.
The debt to me will not be under the bankruptcy court as they, as usual, misrepresenting the size of the debt and what kind of debt it is - I.e 55% of the outstanding shares.
Runnerup
They will not help you. Sometimes ignorance is not bliss.
You should look for the facts and not rely on bias people's opinions
The judge email address is not correct. I got mail delivery mistake
My friend, it's out of the hands of the shareholders now. There is nothing we can do now.
They'll issue new shares and it's done.
The only way of action is to suit them for illegal activities and it will cost around $100k.
Just don't be that naive next time you invest in something.
Good luck
Another puppet of Carlos
The reason they are broke is because they didn't return Annon's calls for almost a year.
If they were honorable people as opposed to thiefs, they could have reached a settlement agreement easily.
I offered few times to buy Annon's debt against shares, but they never return my calls or my attorney's letters.
They should all be locked behind bars for their illegal activities and their breach of fiduciary responsibility to the shareholders
Of Course I'll be happy if the company will be successful.
However you have to be realistic.
If more people here were be pissed off as I was at the crooked Mgt and say something about it 6 months ago, we might have been able to save the situation.
Fitunes - keep being positive and have people losing their entire investment.
It's much better than being negative like me, warning everyone 6 months ago about the people we are dealing with at Bionq.
Very smart and ingenious.
I'll recommend you to run hedge funds, as you are such a positive person.
Maybe a priest?
I suggest you keep buying Fitunes. You have great reliable people running the company. Infect, you should recommend your family and friends (if you anyone) to keep buying. It's the right thing to do.
Go BION
It's throwing good money after bad money.
Sometimes knowing how to take a loss is the correct way to go.
In this case - for sure
I am saying for 6 month. It did make sense to you? Only now?
I agree
These idiots are smarter than most of the investors on this forum. They are buying at the bottom waiting for idiots like swikey to say how great is the company, so they can unload their holdings to all of Carlos's admirers.
Don't underestimate them...
Somebody made $75 on the swing
All the directors will be involve in this scandal if they resigned or not.
I'll make sure of it in the bankruptcy hearing
Yes it's all BK's fault. You are right. Carlos will fix everything...
Go Bion
Guys - it's all over.
Face reality.
I told you from day one.
I am not rubbing it in, as I probably lost more than most people on this forum.
Next time, when someone gives you solid facts as I did, try to listen more carefully and maybe it will save you some money.
Basically - don't get high on your own supply. Don't get married with stocks you bought.
Good luck on the next deal...,
My friend, I have to command you on your ability to keep buying despite the desperate situation.
The guys that hold big positions are as frustrated as the small shareholders.
They tried taking over with a NJ resolution that states that over 50% of the shareholder vote, they can remove the mgt etc.
Unfortunately one of them sent by mistake the signature to Bion.
That is the reason that the MF Carlos, issued another 100m shares that can vote 5:1, thus giving him and the board over 50% of the outstanding.
Of course it adds up to his illegal actions, but there is nothing to sue.
I really hope that you are right about the rumor and they all go to jail and also pay penalty.
U r wasting your time. Any money received from anywhere which had to be paid back or not, went to pay Carlos and his gang in the form of Mgt fees and salaries.
There is no money in the company, period...
You are asking how It all came to this?
when you have corrupt Mgt headed by an alleged criminal as a CEO who cares only about his well being, not giving a damn about the shareholders he has been robing for the last 4 years. That's how it comes to this.
I will lose the $300k, but will sue for my shares and take back the control of the company.
A traded shell with losses of over $10m is worth few hundred thousands. I'll put in a new company that is attractive, or buy the patents back from Annon (leaving me much more than $300k) and continue with Bion as the largest shareholder.
Only time will tell...
My friend - it amasses me to see an experienced investor such as yourself so delusional.
1. Annon will sell the patents to whoever gives them most in the upcoming months - Bion will be bankrupt way before that.
2. Heavy investors always prefer to take a loss than invest more in a shitty situation like we have now.
3. The reason Bion didn't speak with Annon to avoid that lawsuit then and will not speak with them now is because you have an experienced idiot and thief as their CEO.
4. It's unfortunate for you that if u are really going to double up, u will help some smart people get still something for their shares before it goes to 0.
5. Bottom line guys - let's face reality. The reality is, unfortunately, as I was saying since my first post here and everyone had smart ass remarks about my posts, that we all going to lose every penny invested in Bion.
Also, all the vendors, suppliers and anyone else that is owed money by Bion will never get it back.
Not really. Legally it's done. However if they come up with all the money now, I am sure Annon will agree to release the patents back to Bion
Within 15 days the patents are gone from Bion.
Crooks because they only care about themselves and taking illegal actions, misrepresenting reports, ignoring their fiduciary responsibilities as a public company, not reporting anything on the status of things and the list goes on and on. Idiots - because they had numerous opportunities to try settling with Annon and like they did with me, they ignore their calls and now you guys will pay the price.
As to the question of who is Annon (a front for someone or not) it's irrelevant. The money is owed to them.
Annon, according to the court ruling, which is a final judgment, basically own the patents now and can take and do with them whatever they want.
As I said from day one - Bion is run by crooks. (You all refused to listen - it's ok...)
I am sure that all the optimistic members in this forum will find something positive to say... Anyone??
Unfortunately, at the moment, since all patents are pledged to Annon, Bion can not transfer or leveraged any of them until the Annon case is settled.
Currently the value derives from the company's financial and legal status.
(Which is very bad).
If they pull out of the crisis and raise funds, they might be worth a lot.
The way they are going now, in my opinion, is towards bankruptcy.
If you have any shares, I would keep them and see what the future holds.
The estimates are only for accounting purposes, it does not mean actual value.
Since I know the company and the fact that they changed their accountants and lawyers like changing socks, I don't take their reports seriously. They have been misrepresenting facts on all their latest reports.
When they have a real accounting firm doing their financials I'll start believing.
Floyd
I agree that the technology is great. Even in my last post I mentioned it.
But when you have thiefs controlling the technology, most likely it will go down the drain.
It's your money and you can buy whenever you feel like it.
I would prefer to buy it at higher prices after all lawsuits are settled and an investment of my Million was raised by the company. But that's me..
Good luck to you
Yes Richard, you are a genius.
How much money did you invest in Bion and how much r u losing?
Not too much I suspect...
I have Carlos signature on the agreements including the first check that they paid me on account of the signed settlement.
Never met with him. Dealt directly with their law firm at the time Jackson & Jackson
The difference is that if I owed any money to anyone, I would speak with them, explain the situation and ask them to work with me until we can solve the situation.
When BK was there, they breached the agreements with me few times and ask me to work with them, which I did and so did Annon.
When they stop talking with their creditors, enter into illegal actions, misrepresenting their quarterly reports, then u know I've dealing with crooks that only care about themselves.
I read numerous posts of people asking the company to let them what the hell is going on - no word from them.
They are bunch of thiefs that are running a company that had great potential and they are taking it down the drain.
Btw - they have the bonds for over a year - so what? They don't have the equity to capitalize on them