Airborne Wireless Network (ABWN)

[beer$$money]

Airborne spent hundreds of thousands of dollars to advertise its securities in in-flight magazines for United Airlines and
American Airlines. Between February 1, 2017 and April 30, 2017, Airborne also spent another
approximately $50,000 to run a 30-second commercial, at least three times per hour, 20 hours per
day, on an electronic billboard in New York City’s Times Square, across the street from the
NASDAQ exchange. Despite never generating any revenue, in its Form 10-K for the fiscal years ending
August 31, 2017 and 2018, Airborne reported spending about $11.1 million on “marketing and
branding” expenses during that same time. By contrast, despite never bringing a successful product to market, during the same period Airborne reported spending only approximately $3
million on “research and development.”

Accordingly, through their fraudulent scheme, Kabilafkas and his Associates sold
around 11.8 million Airborne shares for proceeds of about $23 million.

https://www.sec.gov/litigation/complaints/2021/comp-pr2021-38.pdf