Just got off the phone with Ares. Used the 877 number and he picked up after a few rings.
I didn't bother trying to record him for a few reasons... one of which was that I didn't actually expect him to pick up on the 877 number, so I didn't have my audio stuff set up.
I asked him about saying that the stock would resume on the pink sheets and he admitted to making a mistake and being inexperienced in this area. He knew that the stock would resume when the suspension was lifted, but didn't understand that it would be forced onto the grey market. He admits that his experience is limited to pre-IPO companies and he's not that experienced with being on the pink sheets and grey market.
Again, I asked him when a PR would be put out. No definitive answer except to say that one would eventually be put out. He doesn't know when, and he says that even if one would be put out now, he says it probably wouldn't mean much to investors/shareholders since it's been long overdue.
I asked him about why the T/A (transfer agent?) is gagged and he misunderstood my question and started going on about how to facilitate my sales. When I clarified and said that it seemed like the T/A wasn't giving out information (that's what gagged means, right?) he said that whoever on IHUB had that question could phone in and ask so he could clarify.
He also knows that this is a long time to wait to clear things up but says that realistically, 3-4 weeks isn't that long of a wait to try to clear things up with SEC.
He does admit that all his information he gets from the guys actually running the company so he has to rely on them to be ethical and honest with him about the ongoings of ACT. But if he felt that it was a scam, he wouldn't be working with them any more.
I thanked him for his time and he said that he realizes his answers are kind of vague but it's because he can't get into specifics.
My thoughts:
I am not confident about what is going on.
I have 90,000 shares purchased at 0.0488 valued at $4392. They are currently worth about $450 if I can unload at $0.005. Holding on longer means at worst I lose that $450. I'm leaning towards going for broke at this point.
Also, I have a feeling Ares reads IHUB.
I'm sorry, I realize that not much of what I'm posting is very helpful. But call him yourself with questions. He encourages it.
