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Thursday, August 25, 2016 1:39:37 PM
The damage was done by the compensated promoters who dumped the stock on naive investors. Looks like one has ran off to Italy.
Poor JOEY Z... ...wonder if he knows that the US has an extradition treaty with Italy, LOL... ...if he has half of a brain, he will hide specifically in Vatican City as that is its own sovereign soil... ...of course, there is always North Korea, where JOEY Z and Kim Jong-Un can whittle the days away giving each other belly rubs...
Ironridge will likely get all of their shares, toss out the management, liquidate the businesses if they have any value at all and reverse everyone out.
Unfortunately, I must concur on this one. IR has always been happy to get repaid and hold onto a small stake of the companies they finance, but their track record shows that many of their distressed clients can't survive and for these, IR understandably takes control and liquidates. No different than what any of us would do if we were in IR's shoes and a loan we made was never repaid...
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