FUNDAMENTAL PROBLEMS WITH THE ACDU STORY
1) Transparency & accountability We have hardly any information regarding the identities of the new control owners or even of the old owners and the company is delinquent in financial reporting. Almost all information on the company comes from anonymous, unverifiable sources including the IR dude who has apparently gone into hiding.
2) Value proposition It remains a mystery as to why a new control owner would pay $19.35 million for control of a broke pinkie only to have to split any potential profits with the public shareholders.
3) Likelihood of fraud Lets face it, folks...ACDU is an easily manipulated, thinly traded pinkie with a sordid history. This is the kind of situation that is a magnet for scamsters.
4) Risk of SEC action The company hasn't filed a 10-K since 2011. An SEC trading suspension and registration revocation is only a matter of time.
5) Toxic Avenger on the loose Someone interested in dumping shares hired a promoter for a campaign ending during 2013. There is no other reason for promoting a company that is not currently diluting. To dispel a common myth, it is not necessary for dilution to occur in order to defraud investors with a P&D.
6) Monetary commitment In spite of the tens of millions of dollars that have supposedly been invested for control, the only verifiable evidence of any investment made on behalf of ACDU are contained in photos of some rather spiffy, ACDU t-shirts.
7) Market signals The market is telling us that the Form 4 filing is a phony.
8) Canal feasibility There’s hardly an expert in the shipping industry outside of Nicaragua who thinks that the canal project is feasible. The Economist dismisses the project as, “A man, a plan-and little else”.
9) The flake factor The Chinese billionaire behind the canal project, Wang Jing, has a remarkable talent for over promising and under delivering. Despite grand claims, he has not delivered on a single project outside of China and little is known about his activities inside that country. One example is a $700 million telecom system for Nicaragua that was due to be completed during the fall of 2013. Construction has yet to be started.
10) Corporate governance ACDU doesn’t place much stock in things like a board of directors or a CEO that other companies find important. It might be difficult to understand how the control owners value effective leadership so little. But who are they kidding…there’s a simple explanation for this frequently encountered in Pinkyland.
11) Credibility Zip point zip. ACDU has failed to deliver on every venture and material promise ever undertaken. From logging operations to divies to car rentals and more recently, the CEO appointment and hotel construction…the company has failed to make good on its promises.
12) Signs of scamster infestation Two of ACDU's 'investments' are associated with the notorious scamster, Keith Maydak, and there are other coincidences with Maydak as well. At least four of ACDU's endeavors are known to be associated with scamsters which is quite a record for a tiny pinkie. In Pinkyland, where there's smoke, there's an inferno.
Encyclopedia of DD Procedure for Recycled Pinkies:
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