He would spin off "companies" from his main company. There was a TNRG spun off from something. GMCH was spun off from something if I recall correctly. It's like all rhetorical legalities. He just walked away from everything. That's his MO. Nobody took over. There was nothing to take over. He even had a website for his coffee company. I'm sure it cost him something to pay somebody to do. I think technically you could place a real order as I recall. Some people did. Got it in the mail. He allegedly bought the "Gourmet's Choice Coffee" brand from somewhere. Allegedly. A brand your parents probably heard of as I seem to recall. Although, I'm not sure such a historical company ever existed. Maybe it did. Maybe it didn't.
He may have some ongoing shell called CHIF, but it has never rewarded shareholders. It may exist.
Back in those days, he was not reporting with the SEC as I recall. It was always coming "soon." You really couldn't see the dilution happening so easily as you can now. You didn't have the otc site up the way it is now. They have to work harder for their money these days. This one, you can dilute it to infinity I guess. It looks like BANI with its billions of shares. Same MO there, but different former characters. That decimal place is so many placed to the left that a broker can't even accept it. It would rejecxt the order unless you bring the decimal over 3 places to the right. It becomes infinetesimally too small for the software to handle. LOL
But, yes, he would just vanish into the sunset. If you read that old stock board, which used to be a pretty popular board, you can see an archive of all those thoughts of people that never went away. There was a board called Raging Bull in those days that was much more popular. That board I believe is no more. Or maybe there is an arcchive there too, not sure. If you can find archives of old blogs, which I'm sure exist somewhere, on TNRG and GMCH, you can find all kidns of pie in the sky promises and discussions and dissappointments and same allegatiosn here today when somebody tells the truth. That they must want your shares cheap. Some things never change.
I remember people used to ask, how can one man be CEO of 6 companies at the same time? How can anybody have the time. I think "genius" was probably one of the best bull cases given. And "look at the chart" as "proof" because they always went up. That part of the seduction. Like a Venus fly trap. This is "how McDonalds started." There is nothing I haven't heard.
All of that is the truth. That's why I can say it with impunity. Because one, shareholders have hte right to know. And two, truth is an absolute defense to all libel claims.
He was involved in the Twistee Treat franchise on some other venture if I recall correctly. I think it was legimiately bought somehow, but it was buried and bankrupt as I recall. Or hew as franchising it. I dont remember, but nobody was rewarded. He didn't turn it around. There is a franchisee somewhere that made someting of the brand I think, but he was on his own after the company went bankrupt. It probably is incorporated a success story of Tilton's, but that would not be the truth.
It's a very long and storied history. I could write a book.
