I understand that some UOIP sharehlder-victims have only a short time to read posts on DissBored, so I will give an executive summary as numbered points.
1. Billy was and is the majority shareholder of UOIP with voting control. Any assets that go to UOIP are under his control.
2. UOIP was broke and thus Billy deemed that UOIP could not afford the audits to continue reporting to the SEC. At least that can be his excuse, and he does nott even need an excuse.
3. Billy was the sole manager of Chanbond and the settlement cannot be undone.
4. Any chump coins and GTFOH shekels that might accrue to UOIP, if any, are corporate assets and must first be used to pay debts, such as years of back pay for Billy. Thereafter, any residue and remainder is a corporation asset that Blly, as majority shareholder and only officer, can spend for any corporate purpose - such as to buy a new business - maybe one owned by his friends or relatives - or him as long as he discloses the conflict of interest.
5. All the munny spent on the goofy California state court lawsuit was wasted.
6. (a) Never buy pennystocks.
(b) Never act on pennystock tips from cats. Cats are notoriously badd investors and even worse analysts.
(c) Never buy IP pennyscams - they are pennycrap because there is no there there.
AI
