Innovative Designs Inc (IVDN)

[NevoTX]

Oh; I missed that. Good catch. Then I agree; this is more shareholder dilution. And yeah, it's hard to argue the services of a board member are worth much when the company, according to its 10-K filings, hasn't had a board meeting in over a decade.

If Joe were only the CEO, I don't think there'd be any avenue for criminal liability here. But since he's also a board member, and board members have legal fiduciary duties to shareholders, there could indeed be criminal liability at play here. Of course, it's highly unlikely that the board of directors for a penny stock company will face criminal charges.

Civil litigation, however, is another matter entirely.