Vianna,
When I first posted, I took some heat from some posters about having my lawyer do DD. He could not find anything on these guys that indicated they ever have done anything remotely unlawful. I still stand by that (today more than ever). Here's why:
One of the people I know who invested in FFGO is a retired Police Officer. He has more investigative experience than ANYONE I know. On August 26th he did an extensive investigation of Lumb, Lowenthal, Bezzano and the others. He stated on the morning of August 27th, everything he found proved them to be squeaky clean. He, also, has checked them out in Europe and South Africa and they are clean.
NO ONE is liked by everyone. Some people don't like people with money. Some people also make money by making outrageous comments. It seems that the only negative things are of a personal nature and are not illegal or unethical. They have done nothing to be put in jail over or even to be charged with anything. They're only guilty of one thing: Trying to be good businessmen. SO, far, that is not a punishable offense.
I do not fear an SEC inquiry because in my opinion, they have not broken any SEC rules. In the event they have, I do not think it was intentional or of a criminal nature. Although to the laymen, not revealing that Lowenthal was Sloane and NMGL was wrong, it may not have been illegal. In fact, it may have been done that way in order for it to be legal. I am not knowledgeable enough to make that judgement. Ethically speaking, I do not agree with not revealing that info, but I can't put anyone in jail or fine them for doing things I think are unethical.
I do find them guilty of only one count. Not communicating with the shareholders. However, this is not illegal. All this drama could have been avoided if they would have come out on the 17th and said, "Due to the complexity of this transaction and the need to evaluate the final draft of the sales agreement, we request your patience until August 31st to have our final package completed along with any questions you may have. We will answer these questions and reveal the final draft of the sales agreement in an email to our shareholders at that time. In the event additional time is required, we will notify you of the revised date. We appreciate your patience and understanding."
That was easy and would have saved a lot of head aches for everyone.
The negatives on the Forum are a small number in the stockholders (Maybe not even stockholders). We should all step back and take a deep breathe. No one should do anything without taking pause. "We do not need to throw the baby out with the bath water!!!!"
