Bollinger Innovations Inc (BINI)

[TenKay]

My understanding is the primary way it is used (fraudulently) is when there is manufactured dispute between a financier and a publicly traded borrower that results in a “settlement” that is then “approved” by the court. The settlement is an issuance of stock that under 3(a)10 is immediately free trading.

…and the Judge is usually clueless that they have been used to get that stock free trading.

The HAON example had 3(a)10 issuances but it does not appear that is what the SEC was going after that specifically.

What I find interesting is that MULN is asking the shareholders to approve such an issuance but there is no formal disclosure of such a “settlement”.

Maybe they are using 3(a)10 in another way…but it isn’t obvious what that is or what it could be.

But as I said, the last time it was used, almost a year ago, was in a settlement with a financier. I don’t recall that it found its way into a proxy PRIOR to said settlement, if at all.

Strange.