Fair question thineer - first of all, the reason I talk about Shayne Heffernan is because, the people behind pink sheet companies are essential to build credibility and to understand the direction of the company.
For example, if this were a bio-tech play, you'd want the CEO to be a man with extensive experience and a track record of success in building bio-tech companies or in that field of expertise. You'd also want to see an experienced financial person and someone who knows his way around the markets.
If the CEO's previous job was as a garage mechanic, you'd have great doubt about the chances of success and even the veracity of the companies claims. Likewise, if the CEO had a highly publicized history of conning the public in one bio-tech scam after another, you'd probably want to steer clear.
Well, here you allegedly have an internet company, claiming to be the Asian Google but when you look at management you find an international con man with no internet experience at the top.. just a history of defrauding investors in high profile cons. Beneath him you have a High Society Thai girl with no relevant internet or IT experience and a police lieutenant as CFO. So of course focusing on the con man is important.
Still, let's look at this so called business. It has been shown here that most of these so called businesses are affiliate programs which are basically store fronts or advertising programs that may or may not be generating income. And since, on the internet it's very very easy to look substantial yet not be, you are very correct when you say it comes down to "how much oil they are pumping out, how they sell the oil for cash". Here too, it all comes down to income generated and profits made.
The problem here is that Shayne is publishing numbers but not backing them up. As I pointed out in my report, he claims all this revenue but, despite promise upon promise, fails to provide anything looking like proof. In fact, along with his promise of audited financial statements, he announced the company had selected an auditor when I proved he had no auditor at all.
For example, did you know... I just added it up and my gross income so far this year is 756,908 Euros. Awesome huh? And my wife and I just bought this really nice 50 hectar winery and are moving into it next week. Only one problem ... both statements are total fabrications... lies. But, if I hadn't admitted it, the only way you would know I was lying would be if you looked into at my bank deposits and visited me at my home two weeks from now.
Shayne hasn't allowed anyone to visit the bank or to see an audited report so we must look at things we can verify and see if we can establish a trend that will tell us if his income statements are true or not. We have learned that Shayne lied about who he is. We have learned that he lied about Mikey Butler and we have learned that he lied about Buzz India. As a result we have discovered a trend that, when we are able to confirm things, they aren't what they seem. That would lead a reasonable person to conclude that many, if not all, of the things we can't verify will not be true either and that includes his representations about income.
This makes the audit even more important. The fact he is not producing it, or even starting it, lends even more credence to my conclusion that it's all a scam.
So, you are right in that it's necessary to look at the business with a critical eye to see if it's making money but that is the one thing that Shayne steadfastly refuses anyone to do. Since he is proven to be an international con man, it's up to him to prove his claims and not our responsibility to trust him. That's the last thing anyone should do.
