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I don't believe that Greg "covered up" anything.
Aside from my earlier comments linked at the end of this post, I submit that the following idea covers the deepest reality:
https://thefactfactor.com/facts/law/legal_concepts/legal_maxims/de-minimis-non-curat-lex/454/
If you now respond that we're not speaking of trivia at all, I hope you'll answer a question: "Who has been hurt by Greg's revival of an otherwise WORTHLESS company whose shareholders are no longer being defrauded?"
Doesn't someone have to be hurt for an injustice to be done?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163088455
I gather that the short percentage tends to be high with GRLT, as with most sub-penny stocks. That largely explains the falls, which are also characteristic of such stocks.
Here is the traditional way out of the problem for an investor who believes that unquestionable value will arise over time: hold.
"Empery is an event-driven hedge-fund based in midtown Manhattan. We focus on direct debt and equity investments in public companies with market capitalizations under $1 billion. Our focus is primarily on Biotech/Medtech/Pharmaceuticals/Specialty Pharma, but we are also active in (Non) Renewable Energy, Natural Resources, Mining, and Technology."
"Empery... is an investment manager that generates returns that have low correlation with the broader markets by purchasing equity and/or equity-linked securities directly from target companies via negotiated transactions."
Boutique.
Assets owned by Empery:
https://whalewisdom.com/filer/empery-asset-management-lp
Their Linkedin page:
https://www.linkedin.com/company/empery-asset-management-lp
I think we've reached an impasse. Can't we eat a pretzel?
If a new CEO takes control of a firm and describes the firm's assets and liabilities while working with lawyers and accountants to ensure that all is stated accurately, and if that CEO also talks with authorities about what transpired, doesn't it seem likely that all the experts told him as follows?
"Make the story accurate for 2018 and onward, and you will have fulfilled the obligation."
The interest of Mr. Mitchell's advisors is to be lawful because Mr. Mitchell, if fined for an omission of fact, would say, "but this lawyer and that accountant and this government official advised me otherwise"; and those folks would be liable.
I conclude that Mr. Mitchell acted correctly when submitting financial statements for 2018 and beyond.
True. No realistic issue with what preceded the reports from 2018; and likely no legal issue of any kind.
We wait.
Greg Mitchell seems to me a good man.
You say this categorically, as if you can point to a section of the law.
As Mr. Mitchell has spoken of fraud and is working with lawyers and has spoken to authorities, I surmise that (a) he is without guile, at the least and (b) he likely doesn't have the obligation that you insist he has.
I don't believe you.
Back in for a little (5.87), impulsively.
Let newcomers note: the firm has a new boss who, despite what you might read here, seems to have no conspiratorial relationship with the previous execs.
One accusation is that by not mentioning "fraud" in the financial reports of 2018 and forward, the boss proves himself to be a bad guy.
The accusation doesn't make sense, as the firm has its assets and liabilities, and the boss likely has no legal requirement to give a full accounting of earlier history.
Are there negatives here? Yeah. With preferred shares, the boss has an ironclad control of the company and so can reverse-split investors into oblivion. Another small problem is... there are no restaurants.
You're betting on an idea and on the decency of a man.
Am out. Parabolic.
My impression is that what you've said is accurate; at least more accurate and maybe perfectly so.
All stock prices fluctuate.
The question is whether current shareholders will smile years from now, in a post-covid marketplace, eating in a variety of food joints with smart friends who strive to represent reality accurately.
Thanks, Ardly
More "steeling" indeed: a future of steel. And pretzels.
And there's zero reason to believe that the new boss has done wrong in fulfilling the requirements of reporting for 2018 and forward, which were the sole years for which he is responsible.
The firm has a shady past, as many such firms do. That's all.
Here's an article of possible interest; and could someone please post the names of Virtra's main competitors?
https://techxplore.com/news/2021-03-pandemic-fuels-boomin-virtual-reality.html
Basis?
Time will tell.
Perhaps Mr. Mitchell didn't report on the fraud that preceded him because he has no affirmative legal requirement to include details that are no longer relevant.
So you're saying the following statement is NOT true: "Greg Mitchell filed disclosure reports for the periods in which members of the Blackburn gang of cons still controlled GRLT."
If the only issue concerns relying on a previous year's numbers and if the authorities don't require delving into the earlier numbers, there's no longer an issue, unless a damaged party comes forward within the statute-of-limitations period.
One aspect of a signature -- a sign of commitment -- is that it creates a reality that all stakeholders can respect going forward.
Are the numbers and kinds of shares correct? Are the assets and liabilities correct? Sounds as if all those details are likely to be true.
In the post to which I'm replying is a reference to the "Blackburn gang" and the following context:
https://drive.google.com/file/d/10fF39HiiaDZ7A84dLWJwFThRThyU1pg9/view
Greg Mitchell is not listed.
If Mr. Mitchell is not required by law to include details about past improprieties, but only to submit up-to-date financial statements, why would we assume that his silence is evidence of corruption?
On what basis are we to understand that Mr. Mitchell is part of the "Blackburn gang"?
On what basis?
OT
jstath, it seems that some of the intended work is a pipeline in Texas; and the American president is against even natural-gas pipelines.
Shares of MRGE were down Friday on heavy volume, and the company's balance sheet is ugly, from my inexpert glance.
Will sniff more, though. Thanks for the tip.
No, is not just fun, nor multiple-personality disorder, though the psychology is important.
Some time ago you said you wouldn't post. Then, instead of returning now and then, you embraced the addiction even more.
A good friend would post only to tell us news; for example, about new contracts or industry trends that we might not have noticed.
Is not healthy and makes some of us skim your posts at most.
You're right, dlewisfl. It could be a disaster.
Is the effervescence of bored or abusive board members, signifying nada.
The people who post don't know, the people who know don't post.
I'd be interested in an abstract of Fish's letter. One thing that the man has said consistently is that the sales reps need to be paid by commission or largely so; and that there's now a dreamy quality to the sales effort.
That Fish decided to take the letter off the board and let it be a private communication speaks well of him. Perhaps he'll put it back here if he's ignored.
Some of us stay because of Ferris.
I don't get the abusiveness. Maybe he doesn't speak for reasons that you would like.
"I too am careful with my words."
I smiled benignly while looking forward to hearing words from the company. Any month now.
Thanks to gbb777 for a substantive post.
I don't understand your post.
How is today different from many other days?
It's amazing how many posts give no information other than to express the poster's emotion.
I say, "Is a business with a future and will sell at maybe $8 a share, perhaps this year. And upside surprises are possible, for reasons about which we've written.
$750 stock. The dollar will be so worthless...
Clay, you're a public figure. Why not be light-hearted?
The guy is putting a meaning to "pump and dump" that you aren't, but neither of you thinks that someone had a plan to have this happen.
They need to respond to Requests for Proposals with the phrasing used in the RFP.
And yes, for general use, they might consider what to emphasize and what to include as subordinate detail.
Good post.
Yours will not be a joke. It will be the marriage of Buffett and Hemingway.
Doing the task would clarify your thoughts about Virtra and would be more useful than posting here.
I wonder how you'll defend a realistic price target and (given the need to be rigorously analytic) what the price target will be.
President Trump's executive order on policing:
https://www.nbcnews.com/politics/donald-trump/read-full-text-trump-s-executive-order-policing-n1231185