I think there is security fraud here and that the Federal and State regulatory agencies need to be looking into this scam. When ISBL was going strong before the SEC's actions on their books back in Feb of 2008, they purchased the MMA fight company for a million dollars using shareholders' investments and was heading toward this venue for they sold the Canadian fiberglas insulation company that they orignially started with and whatever happen to the Chinese retail jewelry business they sold?
They sold their music enterntainment division to BGGR for 1 share of their currently worthless stock for every 30 shares of ISBL as a dividend to ISBL shareholders. They state they issued these dividend shares in their reports to the SEC and I do not have them listed in my accounts, as shareholder on record during that period. Why did they lie and say that this acquistition was worth between the $1.90 to 2.00 share when this was untrue and they knew it was?.
What is the real worth of this company and since BGGR has not followed through in almost one year on listing and transferring dividend shares to shareholders on record, you would think ISBL would do something about this since they are the major stake holder and instigator of this transaction to BGGR. We have not heard a peep from ISBL on what is happening to all the investments they made with shareholders dollars. As far as, I am concern ISBL still owns all of these companies under simple contract default to ISBL and their shareholders. If you sold your house, car, or business under terms and did not follow through, you get your property back under default plus penalties. No company will sell anything without a default clause in the transaction.
If the SEC isn't going to do anything about this crime, then the FBI should for interstate and international security fraud, which is a felony. Steve Lane was a player in both companies and would be someone of interest in a fraud investigation. He cannot hide from the statements made in PRs and Blogs by Rick Papaleo, who will be the second person of interest. For it was Papaleo's own pumping, as president of BGGR, that investors used to buy ISBL for BGGR dividend shares. Just because he no longer is president, does not relieve the company's financial obligations to investors and business transactions. I tried to contact Steve Lane, who failed to comment back on the status of the dividend shares to ISBL shareholders of record. He wants to play big shot, but doesn't want to do the work to operate a company just like Papaleo. They start companies and pump them and leave them worthless. Look at their history in this.
I say they already knew what was going on and this now becomes a red flag for an IRS fraud case for tax manipulation on capital transfer and book valuation for a company that had no value in the first place, but using lies to creat an image as if it had for purposes of increasing their company's credit, depreciation, or market value. They cannot escape the IRS scrutiny and have a lot of explaining to do.
