This is one of my favorites
On February 12, 2014, Ali wrote and issued a second press release entitled,REVO “Forecasts $30 Million in Revenues and $12 Million in Earnings from Global License of its Patented Technology Security System.” [PSMF 142; Ali Dep. 220, Exhibit 29]. Ali is quoted as saying, “The total forecasted annual revenues to begenerated is in the $20 to $30 million range. The potential earnings for REVO is estimated at $8 to $12 million annually.” [PSMF 143; Ali Dep. Exhibit 29]. Ali has presented no evidence to substantiate these claims. [PSMF 144; Ali Dep. 231; Daniel Report ¶¶ 81-88]. Ali testified that he “backed into” the valuation by assuming that, “if we’re lucky, we will get about .001 to .005 percent” of the “84 billion dollar [technology] industry.” [PSMF 145; Ali Dep. 221-25]. REVO received no money from Eyetalk in 2014 and received $77,000 in 2015. [PSMF 146; Ali Dep. 232; Helfer Decl. ¶ 11]. The February 12, 2014, press releases published by Ali failed to disclose that the license was with Eyetalk, that an Ali Trust owned 19% of Eyetalk, and that Eyetalk’s $900,000 license fee was paid through a series of circular transactions involving REVO’s own promissory notes. [PSMF 147; Ali Dep. Exhibits 28-29].
