That Site is a hen house and don't really do real due diligence, they just try to find dirt on anyone and everyone. I called Bob Chance and discussed this with him. Wellington is an Investment Banking Firm Established in 1924. The Firm Commitments is what they do to help Companies like NASV get to up listing and do a Capital raise post up listing. As with NASV, they are consulting with them daily on getting to the up listing process, but do not get involved with Pink Sheet Companies (don't blame them) until they are on NYSE or AMEX. The "Firm Commitments" are real and contractually binding. The intent of issuing the "Firm Commitment" now is to help the Company with credibility issues with the SEC moving through the up listing process (Form S1)as the Company can demonstrate that they have the backing of a major Wall Street Investment Banking Firm with Debt and Equity Commitments post up listing. Again these are legally binding! I do not know why this is even being called a fraud other than the "Hens" are looking at throwing dirt at any and all Companies in the Pink Sheets as they believe all are corrupt! Bob calmed me down and said he made Wellington aware of the postings, they are sending to their Legal Dept. for review and possible action against the posters who have slandered them! Hope the "Hens" have allot of seed money because I think they are going to need it when Wellington comes knocking, which it sounds like they are!
