Rawnoc,
I for one believe you 100%. I have been in this stock for almost two years now and I have seen all the PRs along the way. Always waiting for audits and the move to a bigger exchange that never happens. Matin is playing investors like a yoyo on a string. I fortunately got out of most of my holdings with little damage. But I still have a number of shares in a different account that are under water that I had hoped to break even on.
The first PR (or second?) after the reverse split resulted in
over 500K shares trading hands. That is 500K when the float was supposed to be 1.3 million, 39% of the float. After each subsequent PR, volume would jump to between 300K-500K shares. That is an extremely high percentage of the float to trade in one day and I believe like you that Matin was dumping shares after each press release.
Matin has proven, on the basis of his PRs and other information posted on the company website, to be a very dishonest individual. He once claimed on his website to have an MBA from Asheville University (or College?) in London, England (good luck finding it...don't exist). A few years ago he posted a bogus audit that looked like it was written by a grade schooler (statement of cash flow was all screwed up and did not tie together). The stock initially popped after the PR, but then when people realized it was garbage the stock took a drive. What kind of rational person tells the transfer agent not to disclose the number of outstanding shares? A dishonest person!
He may have a legit business and may even be making the net income he claims. But a leopard does not change its spots and sooner or later he will lie and cheat his customers like he has done with his shareholders (Wholly owned subsidiary that he has to issue 18Million shares. Say what? maybe he does not know the meaning of "Wholly owned"?). Customers have no mercy for liars and cheats.
