Hey Chad, in short he is using these S-8's to sell after he has pumped the stock without any validation of these events. In this sequence he files an 8k, then he promotes the company as if it will be generating revenue into the tens of millions. He follows this up with an S-8 listed billions of shares for sale at a list price.
Its the classic P&D. He uses his position to include himself in the "2006 stock option incentive plan", when he has more preferred stock than anyone, a ton load. He has been doing this since the end of July and he has taken out at the minimum $800k and he now has 2bn more he is waiting to sell. He has managed to take all the capital out of this stock. The money he has taken is more than the market cap that supports the company. It is infact under $800k.
Investors have just been getting robbed by this Ceo and there is nothing to validate his claims regarding future revenues. He has used these same bogus Pr's in the past.
I received an E-mail Thanksgiving evening from John O'Hurley who stated this company doesn't even have a venue. Meaning it doesn't have anything the pr's have stated.
He's a real rock star and no names are mentioned anywhere referencing Board members or even employees.
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