As much as I thought there were serious issues and questions about this company, I am still stunned by the depth of the deception, as well as by the depth to which the stock price has gone.
I'm also shocked that given the evidence presented by the SEC against Plant, the anyone, and I mean anyone, could possibly express support for Plant:
The contract was completely fabricated, right down to Plant creating a false contract to show to BA and others. If any contract ever existed with anyone, Plant could have provided proof to the SEC. Clearly he couldn't.
The idea of the float being 200M was a joke - apparently the 400M to 500M shares that everyone thought was in Plant's hands had long since made it into the float. How many more shares did? Hopefully someday we will know. These sales happened; the SEC could track them easily, once they started looking.
The constant banter by Plant and his agent, BA, about audit financials coming out shortly, soon, in 30 to 60 days (way over that limit), 2 to 3 weeks, etc. was all a total lie. He never hired anyone to do any auditing, and still hadn't as late as March 14th (probably still hasn't), the date the SEC last checked the auditing status before it put it's charges together. Had Plant actually hired an auditor at any time through March 14th, he could have provided proof to the SEC. Clearly, he hadn't.
Is there anyone out there who will step up to the plate and explain how none of these things reflects what happened?
Personally, I'm more in sandvet's court on this - Plant may very well have been the front man for the others. It helps explain why he is still there - they need to try to keep him in line, because the SEC and Federal charges are squarely on him.
We'll all know more, maybe not soon, but there will be other heads to be offered up to the SEC and Feds...
