Well, it's been going on a year since I checked in, but as I see, the more things change, the more they remain the same!
The verbiage out of the auto show is remarkably similar to that of last year, as everyone who followed the GTM-R fiasco can well remember and attest.
When all is said and done, there are still no financials, substantive shareholder communications or realistic development projections coming out of Peter, his numerous comments to the contrary regarding transparency and responsible communication notwithstanding.
Sadly, the leopard has not changed his spots, they're just "green" this year.
A few passing comments:
Peter had to be fully cognizant of the fact that the unregistered Carnes shares he settled the Revenge debt with were being sold. The transfer agent provides the Company with transfer sheets weekly, which indicate who sold what and to who and for how much. While it's conceivable that he may have missed this once, the material provided in the SEC complaint clearly indicates that the exercise went on for some extended period of time, covering months, so any comment to the contrary would be wholly disingenuous obviously (as the SEC has undoubtedly already duly noted).
The entire "Peter was just an unaware babe in the woods" conceptual scenario is, as we used to say in South Georgia, a "dog that just won't hunt".
DTCC is doing nothing but pro-actively covering themselves, and it's not that uncommon when the status of so many shares in the float have been declared by the SEC as being unregistered. What they're doing is attempting to mitigate their potential financial exposure, undoubtedly at the direction of counsel and their respective E & O insurers. The nominal dollars that they might make by continuing to work with RVGD stock
given the circumstances is nothing compared to their potential problems when and if the legitimacy of the significant number of outstanding shares is finally determined. They're simply being prudent. I would suggest that any shareholder wishing to transfer shares away from their "family" firms suggest that they execute hold harmless agreements as an incentive if nothing else seems to work.
If anyone believes that the newly formed corporations embodying the Revenge name have been formed for any purposes other than sell-serving ones for Peter, then I suggest that they begin a series of reality checks forthwith. He incorporated them for a reason, and Peter's reasons for doing things have historically served one person only, and that's Peter himself. A great deal of RVGD enterprise value appears to me to be in a tenuous position right now.
I cannot begin to list the bold faced lies that he's personally told many of our shareholders or the unfulfilled representations that he's made, but suffice it to say, he holds no credibility with many of us whatsoever.
I note that many of the old timers have gone and that many new posters have become involved. Good luck to all of you!
Interestingly enough, does anyone think that it's unusual that so many of the "to the moon" posters that so kindly shared their "expertise" with you during the share run up have now disappeared completely? And how many of you even got a kiss when it was over, anyway?
Like I said, the more things change, the more they stay the same, particularly at Revenge!
annnnnd of course, this is all my personal opinion!
