Personally, I made money off the stock. I had 7.2M shares and averaged at .0048, then sold at .0475 (at average). I was also flipping a number of shares on the rollercoaster ride and had all but covered the $35k I put into this. Yes, I held most of my shares in for the buyout, considering the payoff and knowing the "high risk," but fully expecting the payout. Trust me when I say I was ready for retirement!
I'm not an expert and really believed in this stock and supported it and literally stood at odds with the bashers. But when I dug into this, one flaw led me to another and finally, when a friend of mine went to the office of Marmara in Istanbul and called me from there, I sold immediately ...all of it, then posted what I found.
As for more into this. I've been meeting with my lawyer. He thinks the SH's have a case. The problem is assets with the company. If the money's in the Isle of Man (as an example), forget it, they'll never cooperate. The only hope we have is if the SEC and the Justice System cuts a deal that includes the money being divided up among the loosers in this stock. The problem with that, the lawyers will get their money first and the fines will get paid next....leaving the real bagholders, just that...bagholders.
He told me the real costs of a class action law suit and its staggering and still, even if ALL the money were still available, the legal system would eat this up too! So a law suit would only accomplish ONE thing! That would be to put pressure on the legal system to act accordingly AND they would have to be named in the 3rd party.
Q1: did the SEC act in time to protect the public? (of course they would also have to disclose what made them act) with the point being, why didn't they act sooner?
Q2: what are the key points of the investigation?
Q3: why didn't the SEC communicate with the public with anything other than stopping the company from selling more shares?
Q4: what about the OTC? did they act responsibly? THis is their board and they have a responsibility to police it. So what did they know, when and what did they do to protect the public?
These are questions I had with my lawyer and wondered what action (s) could be taken.
Interestingly enough, its well known the OTC is well aware of many of the scams on their board. THe fact is,they've NEVER been challenged on this point in a court of law.....I think its time. At least reinforce the link between the OTC and the SEC.
Dont know if this answers your question, but am interested to see what the 15th brings. Its possible we may have news on this tomorrow. We'll see..
Good Luck & God Bless
