Lawsuits against directors
The problem is that there is no sense in suing anyone unless they have money to pay if you win. The only entity here that has money is the insurance company on the directors and officers insurance. The problem is that I see is what has gone on here is so bad that it almost looks like a setup by the directors so the company can collect on the insurance!
I looked more at Eos. For some reason, the stock is not allowed to trade electronically. I have seen totally messed up companies (OOAG, BDGR, HDSI), even delisted companies (MAHI, paid a liquidating dividend and filed to delist)that all still trade electronically. For some reason Eos has been put on some kind of list that prevents electronic trading in its shares, plus the price of $4 per share makes no sense for what it has for assets.
I will have to look a lot more to see what that could all mean.
Louis J. Desy Jr.
