For which of these facts about ALYI and veteran serial fraudster Randy Torbo do you want back up / a link? The fact that Randy Torno owns no stock and Ed Bollen has the controlling vote with the preferreds but does not have any real financial stake in the common stock? The fact that Randy Torno doesn’t have ALYI on his LinkedIn page just like Alex Wash doesn’t list that he was CEO of LEXG for years on his LinkedIn page. Instead Torno only lists his current work with an international consulting firm and probably hides his ALYI involvement due to his real job’s strict ethics policy (yes it’s the same Randy Torno - compare the rest of the bios). The fact that Randy Torno went silent after he promised a multi-million dollar Kenyan contract (sound familiar?) years ago that never happened while at ANCE (which is now skull and crossbones on their markets). That this company is supposedly being run by one part time CEO and one consultant? The misrepresentation of Professor Mitlin’s role in the technology as “leading” the effort when he only performed a minor one-time consulting role (you can email him or call him at Clarkson University), the hinting that ALYI was partnered w a major company when it turned out that ALYI is only participating in a conference sponsored by the company, the amount of time required for the US and Africa contracts to come to fruition, the assumption that anyone would invest or order from a company with no financial or engineering resources (despite Randy saying companies needed product immediately in just in time delivery), the fact that they fund via dilution and an ICO scam rather than legitimate venture capital or partnering.
The repetition each quarter of major accounting flags - Accounts receivable growing with no increase in cash - one of the most common fraud flags. Revenues from least 2 years without any payment (and some of the work was COMPLETED at least two years ago or they could not book them according to standard revenue recognition and ALYI’s own policy.). The fact that the value of the digital currency Ven remains constant each quarter despite being a digital currency that fluctuates versus the dollar which is impossible. The use of paid analyst Rob Goldman to pump the stock for pay and the use of him for ICO research. The lack of details as to how thie ICO will exactly fund LEXG or other projects or if the ICO buyers will get ALYI “technology” or ownership (They have to get something for their $50MM) “diluting” anything that ALYI stock holders can claim to have (which is nothing as there is no shareholders agreement, no independent board of directors and Ed Bollen holds all the required shareholders vote with no financial exposure to the common equity). - they announce have broker iSuper duper fraud.
The claim that IS speculation that I can not prove except over more time when ICO money never shows up as cash in quarterly financials (but you can read It or give it to a lawyer friend) is that the “news” is real and my guess is that an LOI will be signed in the next few months if not in the next week and that if it is drafted properly (if we get to see it) it should be binding. However it is meaningless as a “funding partner” (cleverly worded) is not an investor but a party willing to attempt to sell ICO funding for a commission. Even when the LOI has been signed there is no funding. Again, that one I can’t prove except over time - if At least $5MM cash from the ICO shows up on the balance sheet I’ll admit that Randy is a genius and ALYI is a huge bargain. It won’t.
