Monday, January 25, 2016 11:02:15 AM
Back in 2012 i had a conversation with Dan about insider holdings not being reported.
Dan insisted that since there were no regulators to enforce SEC rules that the insiders did not need to divulge that info.
He was right. But my arguement was that for a company to be legitimate they need to follow the rules even when they are not enforced.
That comes into play in your conversation.
If this company was being run legitimately there would be a proper channel for shareholders to do exactly what you say.
We could request a SH meeting and demand the removal of the CEO by the BOD that we voted into place.
I could run this company better than Scott can and I am willing but it could never happen unless I buy my seat from scott.
Most here would be pissed if I took over but if I had an extra 500k to play with I could buy the CEO seat here and nobody would be able to stop lt.
After all did anyone here vote Dan in?
The lack up legitimacy stops anything from happening without Scotts approval.
If removing Scott is part of the plan you can forget it unless you are buying him out.
Sad but true.
People here who are holding losses substantial enough to make taking the loss a waste have no choice but to wait for scott to decide the time is right to activate the story here.
My guess is that the heavy volume on the slide down was insiders selling out prior to either a RS or a raise in the AS.
They are stuck and are no longer making money here. The only option for financing is selling a seat or selling shares.
You cant sell a seat and expect that person to not want shares. There are none to give so raise the AS
Or RS and dilute for funds to get the story rolling again.
Financing is everything even if this is a scam.
IMO Scott should have done an RS in 2014. It would be almost forgotten by now and you might actually have got back to even by now with the proper story in place.
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