neophyte- truthfully...I don't know. IDOI seems to have a legit product. However, that doesn't mean the ceo wants to actually follow through with marketing the product. Here are a couple of thoughts:
1. IDOI's product is legit but still has imperfections/bugs perhaps
2. Manufacturing/Marketing/selling a new product is very capital intensive
3. The product is good...but perhaps not good enough to attract mass financing.
4. They bring in Ray because he absolutely, positively has a proven track record of raising money. (Keep in mind it's very expensive...very very highly dilutive to shareholders).
Another possibility is the CEO realizes Magshoe may never quite hit it really big, so he brings in Ray and his folks to get money flowing. Ray is an expert at getting shares into his secret offshore account and selling them/shorting them to enrich himself. Maybe the ceo here at IDOI needed some consulting on this aspect of things?
This is all speculation. However, it's based on what I know about Ray. Make no mistake about it, Ray is a snake. How do we reconcile that to an apparent legit product? I don't know. My recommendation is to keep your eyes wide open to the types of financing. Play this short with term money. If you're investing long term, play short term bounces as well in order to re-coup some of your investment so you're not left holding the bag if Ray, was in fact, brought in to work his financing "magic".
Just a few speculative thoughts based on years of experience with Ray.
Michael Wolf