He filed misleading documents to the SEC it doesn't get any worse no matter how much of a scam a company is.
People bought shares on those filings which indicated how much dilution there would be. They were completely wrong and Brian should be compensating shareholders for that loss. He signed those filings so he is responsible and liable. Any case taken is guaranteed to win. If i had lost money here there is no way i would let it drop.
If he didn't file at all it would be better than what he has done. He has deliberately mislead investors i.e. stock fraud. You can bet the SEC is building a file on this as we speak.
Of the last pinkies i was in had a CEO called Nicholas Toms, after many complaints he recently got convicted. He is one of the reasons i don't make phone calls to CEO's.
The SEC does monitor serious offenses like this it doesn't matter if its the pinks or not. I'll be very surprised if he is not charged.
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