Thank you again for that... if the company sold shares into the katrina spike, and they did that without any registration statement, or a form D, (which if they did file one, it would be on the SEC website) that is highly illegal.
Selling shares IS HOW companies raise money, among other ways. Absolutely. That is why there are disclosure rules and laws which govern how companies can sell their own stock to raise money. Filing a registration statement is part of that, and, if exempt because of a private placement sold only to accredited investors, then a form D must be filed.That is What I have been saying all along is that , since we agree that they sold shares into the Katrina spike, they had done so illegaly, since they filed neither a form D or a registration statement.
Now here is my point. IF they are to file audited financials, they would have to ADMIT to selling shares INTO THE KATRINA SPIKE, (as you clearly agree that they have)without a registration statement, or form D, that opens up a can of worms like no ones business. Admitting illegal financial activities in an audit does not immunize yourself against prosecution.
THIS is why I continue to doubt they will ever file...
How did you do in business 101???
AI
