On4 Communications Inc (ONCI)

[moneym8ker]

Learned his lesson?

HE IS MAKING MONEY!

What lesson is there to learn?

He knows EXACTLY what he is doing. He gets a loan. The “collateral” for the loan is expressed in a Promissory Note. The promissory note is basically this: If I don’t pay you back in full plus interest I promise you can have XYZ. More refined it’s called a Promissory Convertible Note where he promises that if he doesn’t pay back the loan plus interest they can convert the loan amount into SHARES. He doesn’t pay it back. It converts to shares.

That’s it.

That’s business in the OTC for crook CEO’s.

Lure shareholders with fake deals and revenues and other nonsense while EXPLICITLY PROMISING NOTE HOLDERS SHARES.

It’s fraud.

The problem with it is that it’s protected by Forward Looking Statements of SEC 1931 (or 1934) of the Safe Harbor Act.

What’s NOT protected are his tweets. (See Elon Musk tweets and SEC law)


The only people who should be learning a lesson is Shareholders who didn’t already know this.