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Friday, June 20, 2014 2:51:38 PM
ALL of the above quotes are as leading and flat out deceptive as they come in pos-land...since even convertible promissory notes are all predicated on the share price and a funders ability to clear stock at their specific brokerage firm!
So for example...in 1 of those CEO "funding pitch" emails he tells hope he can give him $40K worth of stock in exchange for a $25K investment...but what the CEO didn't bother explaining is the clearing landscape, all the rules/regulations and especially timeframes and paper trails involved!
So hope could've invested $25K and received his $40K note...only to find out the hard way that the brokerage firm he opened up at wouldn't clear WNBD due to the DTC chill...or that even if the brokerage firm would eventually clear the stock...that by the time they did, it may have taken 2, 3 or even 4 full months of waiting time to clear...and the converted stock he thought was gonna be worth X amount of dollars was now worth a lot less due to the fact that WNBD's share price has been in free fall mode from .05 cent post r/s starting point to .0004, .0005, .0006, .0007, and .0008 all this week for example!
That's why potential funding opportunities are supposed to be made by qualified investment advisors...so individuals understand ALL the inherent associated risks in participating in such schemes! And that's why anyone participating in any public company funding endeavors should always seek and obtain their own legal advice...not the legal advice supplied to them by any public company CEO or the attorney's public co's and established funders use.
Still find it unbelievable how this CEO could bs his round 1 shareholders about receiving a bonus/gesture on the stipulation that they MUST HOLD their stock through the reverse split...only to turn around a month or 2 later and pitch them on funding this CEO's round 2 fun with the CEO telling them that's their reward/bonus/gesture for holding through the MASSIVE 500 to 1 reverse split and losing all the coin they invested in WNBD because they chose to believe in and listen to the CEO who told them to hold through the R/S and go down with the stinking ship sheesh!!!!!!!!!!!!!
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