Not quite...
They may have "proven" the technology, but they didn't prove they could make a profit with it. The plant was a money pit, and they ran out of creditors willing to dump more into it while getting themselves booted off the stock exchanges to where they couldn't raise money there. Loans and stock sales paid the bills. Oh well.
Make no mistake about it, the assets were liquidated for $4.34M and the company is long gone, going on 4 years now. The plant, land, patents, everything else were sold off. Believing the court records are somehow false is a terrible investment strategy as is investing in companies after liquidation and shutdown.
Ever wonder why the company hasn't said a single word since the board of directors and officers resigned at the end of August, 2018? Think it's OK to publish that resignation as well as the results of the liquidation in 8K's and that not be the truth? Really think that some entity bought the shares and didn't utter a word to the folks that own them nor file anything with the SEC or with the 2 federal courts?
This one is/was simple. Some social media pumpers made up a lie about a liquidated and shutdown company being "bought out" for a sum that dwarfed the obligations the company carried into bankruptcy. That simply doesn't happen, if the company had such value they'd have never been in bankruptcy in the first place. They lied to flip the stock. Happens every day on the OTC and it happened here.
I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.
