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Unless he obtains that information from somewhere, but if he didn't have it the first time he filed, I think it is unlikely he will be able to get it now.
So yes, the claim of filing a new registration in 2025 is likely complete BS.
I don't know about RH, but I believe other financial institutions did the same thing. They might also be in line for punishment, as it was all the rage during COVID to pay "influencers" for advertising. This case was not that much of an outlier.
As you know, the Feds charged a number of crypto related businesses for doing this, and the crypto influencers who failed to disclose their compensation. This action seems to signal the regulators are moving on to other financial areas. Such a clean up is overdue.
FINRA Fines M1 Finance $850,000 for Violations Regarding Use of Social Media Influencer Program
First Social Media Influencer-Related FINRA Enforcement Disciplinary Action
https://www.finra.org/media-center/newsreleases/2024/finra-fines-m1-finance-850000-violations-regarding-use-social-media
March 18, 2024
WASHINGTON—FINRA announced today that it has fined M1 Finance LLC $850,000 for social media posts made by influencers on the firm’s behalf that were not fair or balanced, or contained exaggerated, unwarranted, promissory or misleading claims. This case arises from FINRA’s targeted exam of firm practices related to the acquisition of customers through social media channels and represents the first formal FINRA Enforcement disciplinary action involving a firm’s supervision of social media influencers.
“As investors increasingly use social media to inform their financial decisions, FINRA’s rules on communicating with the public are especially critical. FINRA will continue to consider whether firms are using practices and maintaining supervisory systems that are reasonably designed to address the risks related to social media influencer programs,” said Bill St. Louis, Executive Vice President and Head of Enforcement, FINRA.
Between January 2020 and April 2023, M1 Finance paid social media influencers to post content promoting the firm, and instructed the influencers to include a unique hyperlink to the firm’s website that potential new customers could use to open and fund an M1 Finance brokerage account. M1 Finance also provided its influencers with graphics and a “Welcome Guide” that described specific services and features available through M1 Finance that influencers could highlight to make their social media posts more effective.
The firm paid influencers who participated in its program a flat fee for every new account that was opened and funded by the customer using a unique link provided by M1 Finance. The firm did not limit compensation influencers could earn. During this period, more than 39,400 new accounts were opened and funded with the help of approximately 1,700 influencers working on the firm’s behalf.
M1 Finance influencers made social media posts promoting the firm that were not fair and balanced, in violation of FINRA Rules 2210 (Communications with the Public) and 2010 (Standards of Commercial Honor and Principles of Trade). For example, an influencer advertising M1 Finance’s margin lending program stated that customers could “pay [margin loans] back at any given time . . . there is no set time period.” But in fact, investors who use margin are not entitled to any extension of time to meet the firm’s margin requirements, and the firm can, without contacting such investors, increase the maintenance margin requirement on their accounts at any time, force a sale of securities in their accounts, and choose which securities to sell, if a margin call occurs.
M1 Finance did not review or approve the content in its influencers’ posts prior to use or retain those communications, as required by FINRA rules. M1 Finance also failed to have a reasonable system, including written procedures, for supervising the communications that the firm’s influencers made on its behalf. These were in violation of FINRA Rules 2210, 2010, 3110 (Supervision) and 4511 (General Requirements-Books and Records), as well as the Securities Exchange Act of 1934 and the Exchange Act Rules.
In settling this matter, M1 Finance consented to the entry of FINRA’s findings without admitting or denying the charges. The firm also agreed to certify that it has remediated the issues identified by FINRA in a letter of acceptance, waiver and consent and implemented a supervisory system, including written supervisory procedures, that is reasonably designed to achieve compliance with Rule 2210.
This is REALITY based on the facts contained in COWI's own SEC filings and OTC disclosure.
They are insolvent. No money to even buy a stamp. So where are they going to find the cash needed to audit the financials, prepare the 10-K and file it with the SEC? No conjecture involved - they need REAL cash. Cash they do not have. For the last 10-Q, they borrowed almost $100K from their spin-off, which itself is pretty much broke. So where is that cash going to come from? Professionals don't work for free.
Why didn't they issue an 8-K for that last "important" piece of news but instead relied on a free service to release it? Yeah, because they are broke, but needed to stoke the pump to allow the toxic death spiral convertible holders to continue to dump into what little short-term buying enthusiasm it created.
COWI is an insolvent pump and dump, and the end is near. Even more near than people think.
COWI is insolvent. They may not even make it to the near-term that Carbon completes the registration process and begins trading (which is not guaranteed).
COWI had to borrow almost $100K from CCG just to keep the lights on in 2023. That loan is actually bigger than the book value of COWI's CCG shares, so it is possible they may eventually have to give CCG back those shares to wipe out the loan leaving COWI with nothing.
CCG, if they are a real company, has no more cash to spare to give to COWI, which means COWI is likely at the end of the line. Almost all of their massive amounts of unpaid liabilities are in default, so if COWI actually ever does get any assets of value, those creditors are well within their rights to sue COWI for repayment and take the asset, including the CCG shares. Toxic lenders are well known for doing just that. They are ruthless.
COWI's 10-K is due in about 2 weeks. What are the odds they actually file it on time? Or file it at all?
COWI is currently $25 MILLION in the hole. Their assets, including their 6,000,000 Carbon Conversion shares, is valued at....$166,100. That is a FAR cry from the $24,799,896 in current liabilities.
The value of their Carbon Conversion shares is $84,998, which is actually LESS than the $97,080 they currently owe Carbon Conversion for the cash they needed to file the last 10-Q. But even if we ignore all of that (which would be stupid, BTW), you somehow think the Carbon Conversion shares will appreciate from the original 1.4 CENTS per share to over $4.00 per share by doing nothing? Yeah, sure. That is why people are willing to throw their money away on garbage stocks like COWI. They live in a fantasy world with absolutely no connection to reality.
If the current state of the pirate barge is anything like what PT did to Mexus, it was also stripped of anything valuable which were taken by PT and his family before it was left to drift off and sink unattended while sticking the investors with the bill.
The lenders are dumping as much as they can. That is how toxic death spirals work. Right now, the toxic lenders can convert their debt into 4 TRILLION new shares of COWI. Do you really think in any sane universe they are converting and holding? HELL NO! They only make money when they convert and dump, especially because they have an almost unlimited number of shares available. They are guaranteed a MASSIVE profit for every share they sell. The only thing holding them back from dumping more is that they can find enough brain dead "investors" to buy the shares from them. They would dump more if they could, guaranteed. They are only limited by the volume.
If you actually did some DD, you would note that BOTH the O/S and the Float are increasing by similar amounts. The market is being flooded with newly issued stock. There is absolutely no question these new shares entering the market are coming from the toxic lenders converting and dumping. They ain't holding a single share - the filings and the OTCMarket disclosure prove that.
COWI is nothing but an insolvent pump and dump.
Yes, I think there are people that will think that. But they ignore that from any potential partner or acquirer's perspective, it makes much more sense for them, at this point, to strike a deal as part of a bankruptcy plan, not before.
It is the usual BS we always see in bankruptcy stocks these days - MOASS coming! Lost another 55% today.
That short-squeeze rhetoric isn't as effective as it once was since BBBY crashed and burned. That was the flagbearer for the MOASS crowd and they were left with big losses after so many gurus on social media claimed it not only would make everyone rich, but the stock would never be cancelled and cease trading. A lot of newbies either lost everything in that debacle, or learned to not listen to know-nothing amateurs.
One more time. The SEC filings DO say that. Where do you think the daily increase in the number of outstanding shares and the float are coming from then?
Issuances to the toxic death spiral convertible holders are the ONLY shares being issued, per the SEC filings. There are no other filings that would permit anyone else to be dumping to increase both the O/S and float concurrently.
Come on, give us your best explanation on why the SEC filings and OTCMarkets disclosure, both provided by Lloyd Spencer, are WRONG and you are right.
COWI is an insolvent pump and dump that never was real. From day 1, COWI was nothing more than an insider enrichment scheme to transfer shareholder money into the pockets of Lloyd Spencer and the toxic lenders.
The SEC filings DO say that. Read them. The toxic lenders ARE converting and dumping.
Have you seen the updated O/S numbers at OTCMarkets? The number of outstanding shares increased by about 200 million in just 2 days this week to about 22 BILLION. Where do you think the hundreds of millions of new shares flooding the market into the float are coming from?
US federal judge rules Corporate Transparency Act unconstitutional, future of beneficial ownership regime in limbo
Personally, I am skeptical the judge's ruling will survive appeal. I think Congress does have the power here, and what is the precedence that ownership is a secret?
https://www.thomsonreuters.com/en-us/posts/corporates/cta-unconstitutional-ruling/
A ruling out of an Alabama court saying the CTA is unconstitutional throws the whole question of requiring beneficial ownership information from companies into doubt
A U.S. District Court judge in Alabama has ruled unconstitutional the Corporate Transparency Act (CTA), which was enacted as part of the Anti-Money Laundering Act of 2020 and underpins the nascent beneficial ownership reporting regime.
The ruling’s ultimate impact on the US beneficial ownership information reporting requirement cannot be known at present, as the government is expected to appeal, although a Treasury Department official said that the department was complying with the court’s injunction.
“The Government says that the CTA is within Congress’ broad powers to regulate commerce, oversee foreign affairs and national security, and impose taxes and related regulations,” Judge Liles C. Burke wrote in the ruling, issued March 1. “The Government’s arguments are not supported by precedent. Because the CTA exceeds the Constitution’s limits on the legislative branch and lacks a sufficient nexus to any enumerated power to be a necessary or proper means of achieving Congress policy goals.”
In short, Burke’s ruling suggested that there was not a clear enough case that the CTA was supported on the grounds of national security. Judge Burke’s ruling was the product of a legal challenge brought by the National Small Business Association (NSBA) and one of its members against the Secretary of the U.S. Treasury Department.
Treasury’s CTA implementation
Treasury’s Financial Crimes Enforcement Network (FinCEN) has written rules implementing the CTA’s reporting requirements and dictating which parties will have access to the beneficial ownership information held in the database.
FinCEN’s rule defines “beneficial owner” as “any individual who, directly or indirectly, either exercises substantial control over such reporting company or owns or controls at least 25 percent of the ownership interests of such reporting company.” Tens of millions of entities, many of them small businesses, are affected by the reporting requirement, which aims to unmask the owners of complex legal entities and make it harder for criminals to abuse shell companies.
FinCEN began collecting ownership information on January 1, with plans to allow high-priority government authorities to access the data this year. It is not immediately clear, however, to what degree information collection and dissemination will be affected by Judge Burke’s decision.
The order “only applied to enjoin the CTA’s reporting requirements as to the plaintiffs, including NSBA member entities across the country,” said Thomas H. Lee, the lawyer who challenged the act on behalf of the NSBA. Lee is with Hughes Hubbard & Reed in New York. “The government may move for a stay pending appeal, but it has not yet filed.”
When asked, a Treasury official said that “Congress overwhelmingly voted to enact the bipartisan (CTA)… to crack down on illicit shell companies and combat financial crime. We are complying with the Court’s injunction and refer you to [the Department of Justice] for any further information about the case.” The Department of Justice did not immediately return a request for comment.
Last year, the nonpartisan FACT Coalition joined Transparency International U.S. and small business group, Main Street Alliance, to file an amicus brief in support of the CTA. That brief emphasized the law’s core national security function and the limited nature of the information being collected.
“Pro-crime, pro-drug cartel, pro-fentanyl ruling”
Ian Gary, executive director of the FACT Coalition, said Judge Burke’s order “is a pro-crime, pro-drug cartel, pro-fentanyl ruling which undermines the rule of law and allows criminals to use anonymous shell companies to hide their dirty money from law enforcement. Close to a million law-abiding companies have already complied with the law, and this ruling should be stayed and overturned on appeal,” Gary said in a statement.
Zorka Milin, policy director at the FACT Coalition, concurred, adding: “We urge the government to promptly appeal and to request to stay the district court’s injunction pending appeal.”
Peter Djinis, a former regulatory policy official with FinCEN, said he does “not find the court’s opinion persuasive,” adding “I will wait and see how this develops through the inevitable appellate process. This certainly throws a monkey wrench into the long-delayed implementation of the Corporate Transparency Act.”
I was not aware Zinn already had an Associate Counsel, which also says a lot.
So they need a third ranker? Yeah, that is even funnier that they would contact Basile for the job as he is far too accomplished, over experienced, and almost certainly far, far, FAR above that salary range in his current practice. Clearly the recruiter they hired is not too knowledgeable about the industry they are trying to recruit. I don't agree with Basile on a lot of things (and certainly not on MMTLP), but he is one of the most experienced lawyers in the space.
Seriously? A "culture carrier"? That typically means the organization doesn't have a positive culture, so the applicant is expected to mold the culture themselves.
Again, that says an awful lot about OTCMarkets that a DEPUTY General Counsel (not even their boss, the General Counsel) hired from outside the organization is expected to establish a culture. I guess their management are not capable of leading, so they have to hire someone subordinate who is as the "Culture Carriers" are always top management, usually the CEO or COO.
Great Googly Moogly - that is hilarious!
Why am I not surprised they have to pay a recruiter to cold E-mail to try to fill that position? That says a ton about OTCMarkets and how they are regarded in the industry.
We DO know what is happening. That is how toxic death spiral lenders do business.
It is all spelled out in detail in the SEC filings. People really should read them.
Seriously? The toxic death spiral holders are DUMPING as much stock as they can. And they purposely hammer the bid to drive the price down to $0.000001 once every 20 days because that is the reference price used to determine the price they can convert their debt into stock. Since they can convert at up to a 65% discount to that lowest trading price in the last 20 trading days, it means they convert their debt into shares at $0.00000035 per share! Even at $0.0001 they make bank. And since they have a virtually unlimited number of shares they can convert and sell, based on today's low trade, the current convertible debt converts into 4,000,000,000,000 new common shares. Right now. That's right - 4 TRILLION new common shares of COWI can hit the market.
Isn't this obvious by now?
BC is trying to seize a house bought with proceeds from a pump and dump, but the buyer is fighting the seizure order in court.
I am not sure which of the many BC based OTC pump and dumps the money came from, but it is one of the Roger Knox/Wintercap cases.
https://vancouversun.com/news/local-news/bc-man-unexplained-wealth-order-response
https://www.sec.gov/litigation/litreleases/lr-25600
I am sure you do. My point is that the phenomenon is not unusual. There is an enormous number of boards just like it, with many seeing 50 posts or more per day.
There are an inordinately high number of cult boards for defunct, worthless, and never to return stocks. I doubt the people still posting there espousing their belief that these stocks have value of any kind, much less massive values that far exceed even their highest valuations when they were alive, actually believe any of it. They may have originally, but time has a way of imparting truth on even the most ignorant of the population. Instead I think they are just hanging on for social reasons - they just like to converse with people with which they have something in common. Which in these cases would be a shared loss of capital.
Seems really stupid to me, but every person has a different motivation and likes.
You clearly do not understand what "Proven" means.
Proven is a legal definition that means it has been proven through specific scientific processes that the gold can be extracted and process both legally and profitably. Mexus has in no way done that, and has NO proven gold of any kind.
It is illegal to claim they have proven gold when they do not. Yes, it is a crime under the anti-fraud provisions of Federal law.
Gold is not rare. It occurs everywhere. What is rare is gold that can be obtained at a profit. What Mexus has proven so far is that they CANNOT extract that gold at a profit, which makes the property effectively worthless.
Which is why the company is dead and the stock is trading where it is...until it gets deleted and becomes completely worthless permanently.
NYCB has been halted. Looks like they are begging for cash to stay alive.
One of Tingo's auditors is punished, but not the obvious one....yet.
https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-sanctions-gries-associates-for-deficient-audit-work-that-preceded-multiple-financial-restatements
PCAOB Sanctions Gries & Associates for Deficient Audit Work That Preceded Multiple Financial Restatements
PCAOB revokes registration of Gries & Associates, LLC, imposes bar on Blaze Gries, and imposes $65,000 fine for audit violations
Washington, DC, Mar. 5, 2024
The Public Company Accounting Oversight Board (PCAOB) today announced a settled disciplinary order(PDF) sanctioning Gries & Associates, LLC (“the firm”) and Blaze Gries, CPA (“Gries”) for violations of PCAOB rules and standards.
When conducting the fiscal year 2021 audit of Tingo, Inc. (“Tingo”), the firm and Gries failed to respond appropriately to warning signs that Tingo’s financial statements materially misstated billions of dollars of goodwill and tens of millions of dollars of stock-based compensation expense. In the wake of the deficient audit work by the firm and Gries, Tingo underwent multiple restatements of its 2021 financial statements.
“Auditors must respond appropriately when they encounter warning signs,” said PCAOB Chair Erica Y. Williams, "The PCAOB will not hesitate to take action when investors are put at risk.”
The PCAOB found that the firm and Gries failed to evaluate Tingo’s basis for accounting for a significant business combination as an acquisition, as opposed to a reverse acquisition, even though they saw public filings and emails from Tingo management that called the combination a “reverse acquisition” and “reverse merger.” The firm and Gries failed to appropriately respond to these and other red flags warning that Tingo erroneously accounted for the combination. Four months after the firm released its audit report, Tingo restated its 2021 financial statements to correct the error, resulting in removal of roughly $3.6 billion of goodwill from the company’s previously reported total assets of $6.5 billion, a 56% reduction in assets.
During the same audit, the firm and Gries also failed to resolve warning signs that Tingo had erroneously reported the entirety of the $220 million in stock compensation it had issued in 2021 as an expense in 2021, rather than amortizing the expense over the years in which the stock was scheduled to vest. Not only did the firm and Gries fail to obtain sufficient evidence that the stock actually had been issued, they also relied on management representations that the vesting period was only one year, while failing to resolve contradictory disclosures in Tingo’s Form 10-K that identified the vesting period as two years. Eight months after the firm released its original audit report, Tingo again restated its 2021 financials, which included the deferral of $66 million in stock compensation expense from 2021 to future years.
In addition, the firm failed to timely file Form APs, Auditor Reporting of Certain Audit Participants, due in 2022 for ten audit reports associated with eight issuer audit clients, one of which was Tingo.
“Today’s order should serve as a reminder that auditing in compliance with PCAOB standards requires auditors to approach the work with a questioning mind and a critical assessment of audit evidence,” said Robert E. Rice, Director of the PCAOB’s Division of Enforcement and Investigations. “The PCAOB will hold auditors accountable for significant failures to act with due professional care and professional skepticism.”
The firm and Gries settled with the PCAOB, without admitting or denying the findings, and consented to a disciplinary order imposing the following sanctions:
The firm’s PCAOB registration is revoked, and the firm may reapply for registration after one year;
Gries is barred from associating with a registered public accounting firm, and he may petition for termination of the bar after one year;
The firm and Gries are jointly and severally responsible for paying a civil money penalty in the amount of $65,000; and
Gries must complete, prior to filing any petition to terminate his bar, 24 hours of continuing professional education and training.
PCAOB enforcement staff members Thomas McCann, Anthony Mealey, and K Lynn Dunston conducted the investigation. Kyra C. Armstrong and John Abell supervised this matter.
The PCAOB oversees auditors’ compliance with the Sarbanes-Oxley Act, provisions of the securities laws relating to auditing, professional standards, and PCAOB and SEC rules. Further information about the PCAOB Division of Enforcement and Investigations is available on the PCAOB website.
Firms or individuals wishing to report suspected misconduct by auditors, or to self-report possible misconduct, may visit the PCAOB Tips and Referrals page.
OMG, you have NO idea how toxic death spiral funders work.
Of course they are converting and dumping, Every chance they get.
I suggest you go and read any of the multitude of the SEC warnings and cases against toxic funders and their tactics. Not ONCE has any toxic funder actually held a single share hoping the stock goes higher. NOT ONCE.
They will dump every single share they can as they are guaranteed a massive return under their contract. All they need is stupid idiots to buy what they are selling in these insolvent pump and dumps like COWI that have zero chance of success. NONE.
COWI is an insolvent pump and dump.
Nothing more.
Doesn't anyone actually READ SEC filings anymore?
I reviewed Mullen's financials and I don't see any toxic notes currently issued. All the convertibles have floors.
The $18 million discount is huge, but they say it includes settlement amounts related to disputes over prior loans. I didn't go into all the details but, if true, it would at least help justify some of that cost. And that loan is not convertible.
The stock recently traded down to 0.000001 again today. That is very significant, as it serves to reset the price that fixes the conversion price for the toxic death spiral convertibles. As per their contracts, the toxic death spiral convertible holders convert their debt into common shares at up to a 65% discount to the lowest trading price in the last 20 days. That means they convert their debt into shares at $0.00000035 per share! Even at $0.0001 they make bank. And since they have a virtually unlimited number of shares they can convert and sell, based on today's low trade, the current convertible debt converts into 4,000,000,000,000 new common shares. Right now. That's right - 4 TRILLION new common shares of COWI can hit the market.
Yup, buying at $0.0001 is a real deal...for the toxic convertible holders, as they are selling you shares they bought for $0.00000035. As long as their are "investors" willing to buy this trash, they will keep selling. Anyone willing to step up and buy 4 TRILLION new common shares?
NASDAQ strikes back!
NASDAQ has been under fire a lot lately for a number of reasons, some of which I agree with, and some of which I don't. One of the loudest critics has been Joe Oltmanns of OTCMarkets (who calls himself a "listing executive" which is intentionally misleading as there are no listings on OTCMarkets, but they want people to believe they do - what a scam) who has been taking any opportunity to criticize any whiff of wrong doing by a NASDAQ stock and claim that OTCMarkets is a better place for low-priced stocks to trade. Complete BS, and he conveniently ignores all the fraud that regularly occurs on his own market. For every "bad" stock on NASDAQ there is at least 10 on his own platform. And NASDAQ is quick to boot the wrongdoers right to....OTCMarkets, which is not so quick to expose wrongdoings and hurt their promotional revenue.. Oltmanns is nothing but a desperate hypocrite, at best, trying to deflect attention away from his employers' awful practices and numerous fraudulent scams that operate freely on OTCMarkets. But I digress.
This week, the Chief Economist at NASDAQ, Phil Mackintosh, published a very interesting piece about stocks that trade under a $1. Titled "There is Nothing Special About Sub-Dollar Stocks", it is absolutely worth a read.
https://www.nasdaq.com/articles/there-is-nothing-special-about-sub-dollar-stocks
Funny how the "smart man" is consistently wrong.
How is the stock doing? Making money for the toxic death spiral convertible holders and insiders like Lloyd, as they get their stock for virtually nothing, but no one else.
How did the stock react to this week's "great news"? Did they find more stupid people to believe it and buy enough to move the stock up?
Yeah, that is what I thought.
Very true. I think Hindenburg was bruised by their failures on Freedom Holdings. I have little doubt that their facts are correct, but the stock is being manipulated higher, most likely by a government and/or bad actors in concert with that specific government.
Since then, Hindenburg has definitely concentrated on more widely held, very large cap names. I don't think it is a coincidence that they also seem to be focusing on names with very high institutional ownership. It is much easier to present the facts in their reports to professionals who understand what they are saying instead of trying to convince crazy apes that the stock is overpriced. The most questionable of those companies are mostly outside the USA (where Apes are less prevalent to boot), especially since Muddy Waters has almost cornered the market for publishing short reports on the US companies with inflated asset valuations.
I think this quote given in their current report sums up why:
“If that was in the US and that was with the SEC, everyone would be out.”
Regulation and financial reporting is more questionable outside the US, so there is more opportunity to find fraud than in large US reporting companies.
Don't get me wrong - there is still plenty of questionable reporting among US public companies, but most are smaller and the levels are less egregious. Outside the US, however, allows for plenty of opportunities to expose grossly overvalued large (and liquid, which makes them easier to short) companies that will also be more likely to react to a negative report. Of Hindenburg's recent misfires, they seem to be smaller and much less liquid and more cultish. Their investment thesis may be correct, but those are easier to manipulate and keep the stock prices up.
Toxic death spirals don't work that way. Why do you think there is hundreds of millions on the Ask in COWI? That is the toxic lenders looking to dump stock at any price, since they are currently converting at $0.00000035 per share. They want volume, as price is immaterial when your basis is that low.
You are very ignorant about toxic lenders.
They absolutely do not need to pay anyone to keep the stock price low. Instead, they pay people to PUMP the stock to drive volume they can dump into. They don't want people saying bad things about a company and keeping investors away. They want people to say good things about this insolvent pile of crap to fool people into buying the shares.
Toxic lenders make money at whatever price the stock is. All they need is to find suckers willing to buy their deeply discounted shares.
Right now, the toxic lenders can convert their floorless convertibles into 4 TRILLION new shares. They NEED people to buy those shares to make a buck, so they pay people to go on social media and pump, pump, PUMP COWI to fool people into buying.
Ridiculous hopeium. Mexus is DEAD. It ain't coming back. And those that actually know what they are talking about based on both practical and professional experience told you over and over and over and over this was going to be the end result. You ignored the facts, and now you are left with nothing.
Too bad. That is what happens when people ignore facts and act stupidly.
The only stupidity here is the people who buy and own this worthless stock.
It is a pump and dump, and either people are in on it, or they are too ignorant to know better.
One or the other.
People who either ignore or, worse, don't read the financial statements and base their investment decisions on those FACTS are ignorant. Or worse.
COWI is not only insolvent, it is a very obvious pump and dump. And has been for years under Lloyd Spencer, who does nothing but take shareholder's money.
This is not a viable company. The release is just part of the pump to allow more dumping by the insiders and toxic death spiral convertible holders, who, right now, can convert and dump 4 TRILLION new shares. 4 TRILLION. And yet there are people who willingly ignore that FACT and continue to somehow believe this stock can go somewhere? Sure.
This is a fraud. This is just part of the pump the toxic death spiral holders need to find more ignorant suckers to buy the shares they are dumping.
At current prices, they have 4 TRILLION new shares to dump. All they need is for people to ignore the facts and buy the BS that Lloyd is pumping out.
That is how pump and dumps work.
Go through the steps I outlined and you should get the useful list of filings. Eventually.........
I think.