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Sunday, September 09, 2007 8:49:59 PM
If you had 4.8 septillion shares of RAVI in 02/2006 after all their R/S BS, you would have ONE share now!!
Anyway, point is that it really has to do with determining scruples via DD than anything else.
I faulted myself by not doing a more thorough DD. If I'd noticed Ms. Morrison receiving shares BEFORE (or on the same day) JF took the wheel I would have started to question. It's not feasibly possible to pay someone for services before they have been rendered, before they are an official employee.
I then would have looked further and found that accountants have been changed as well. Changing an accountant is probably THE BIGGEST RED FLAG ever, especially after a quarterly. I would NOT have dropped a dime.
My loss was not that large. I am mostly mad at myself. However, I am especially pissed about the trickery with the R/S the MOST. I don't deal with pinky stinkies. The R/S move was the classic pink stink carrot.
I have however learned an invaluable lesson. I will from here on begin DD at the earliest point on where control has changed hands. i.e. Corporate name changes, states of incorporation, symbol name changes. Anything recent could be based upon years of record fudging.
Seems to me that the "pivot" points of a corporation's existence shows more about a corporation then anything else.
I really hope everyone gets as much of their investment back as they can!
Play JF now and get your money back!! Just make sure the SEC doesn't shut them down while you're doing it.
Best to all... I'm off to (seemingly) greener pastures for a while.
"I don't know, I don't care and it doesn't matter anyway." -- Jack Kerouac
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