Many thanks for the reply and extra detail. I wonder how the Japanese feel about this? They're usually noted for due diligence yet this one would seem to have caught them as well. And Precept? How much are they down? Where has the money gone???
It's clear to me that last years press releases were without substance. In particular, and given the scandalous situation that was both on-going at the time and without realistic prospect of resolution, this January's very positive sounding update was a pack of lies. Whilst the Disclaimer may get them off the regulatory hook it does not alter the fact that the update was premeditated and designed to deceive and defraud investors of the Company. That, under any jurisdiction, is criminal behaviour - an allegation borne out by the fact that the perpetrators have now fled the country and removed assets indirectly paid for by those investors in an attempt to escape full investigation and possible prosecution. What does Bill James have to say about it all?
If the SEC is powerless to protect investors and ensure those responsible for criminal actions are brought in front of the Courts then I wonder what the IRS could do? I understand their arms are long enough to reach around the world. So too are the arms of the Japanese business community who may have other ways of seeking recompense.
I have mentally written my investment off as stolen. I don't expect to see anything back from it but, depending on the small print in the various Japanese contracts regarding penalties for breach by OGES, there may be some value in the Patents - that is if OGES actually own them. Either way, if there's a share out at some point would you mind having a word with your lawyer and put me down for one of the HDs. Lol.
Many thank once again for your reply. I'll keep checking in. GL.