Libe has achieved a significant status. That status is being the single worst stock I have ever owned. Sadly, I, like many other investors, was duped by constant misinformation about the company. I have my own opinion on whether or not the deceit was intentional, but I will just leave it for others to decide on their own. Giving my own opinions would likely just get my post deleted almost instantly.
I never had any intention of investing a significant amount of money into LIBE. I wanted to load up on another stock, but about a year and a half ago, LIBE was actually making a strong move upward so I invested a minimal amount of money figuring that it would be a short term investment. As you can predict, the stock went down. The real problem is with what the CEO was telling investors. He posted regularly on this message board and his updates constantly made me believe that averaging down was going to be a good investment.
Some of the things I can recall being talked about were:
1) The Guard Lite -- A deal with Bravatech and Ryan O'Leary being touted as a tech wonder working on it.
2) Blockchain -- LIBE receiving $100,000 of equipment that was implied was given to them as some pending deal. Talks of having to choose between multiple Blockchain bigwigs to bring into the fold.
3) LIBE'S Blockchain technology, Bitwhisper, being pursued by people building a two hundred million dollar data center. Yes $200,000,000.
4) Playboy club --- LIBE was acquiring the old playboy club and going to make it a green living community. Claims that Tesla (Elon Musk) was on board with the project were made.
5) Letters of intent to acquire Bob's Butt wipes, Peppermint Jim, and some sort of video game company were signed.
6) Repeated claims were made that the deal LIBE was making included that LIBE's remaining debt was being purchased as part of the deal.
7) Repeated claims that notes were done being paid so there would be no more dilution. The dilution always continued. This is my biggest complaint. When I entered LIBE there was something like only 10 million shares outstanding and with debt being bought out, it seemed like a great investment. Yet after a year and a half of unprecedented dilution, LIBE now has over 3 billion outstanding shares.
8) Reverse merger with Cigawatt. Hard close supposed to have happened over a month ago. Claims that reverse split was not being talked about. I don't think anyone really believed this as it seemed too obvious that it was going to happen. I understand why it would have to happen, but why try to mislead investors to think it wasn't going to happen? Maybe it wasn't talked about at that point, but it obviously was talked about shortly there after and if you had made public comments claiming that it wasn't being discussed, wouldn't it only be right to make more public comments to say, things have changed in the last few weeks and now we are discussing it? Not correcting that kind of information is willful deceit in my opinion.
All of these, lets call them empty promises, kept baiting me to continue averaging down. So what started as me having no intention to be a significant LIBE investor, suddenly had me holding a large heavy bag. There were certainly red flags. One of which was when LIBE decided to hire a message board poster to work on the guard lites. His field of expertise had nothing to do with guard lites in case you are wondering. The problem is that this individual was also making claims that he had potential huge guard lite deals in the works.
I am guilty of having defended LIBE during many of these failed endeavors, but I found it hard to believe that someone could treat investors so poorly. I also thought that fear of legal troubles would deter the company from intentionally misleading investors so I refused to believe it was intentional.
I will have to view this as a very expensive investing lesson. I have seen just how much a company can claim without ever having to deliver.
This flashback of LIBE events was merely from the top of my head so if anyone feels that I have any details wrong, please feel free to correct me. Also, if I have forgotten anything, feel free to point that out too. I wish everyone the best of luck. My opinions are my own, please make your own decisions concerning LIBE as an investment.
Remember Tomorrow
