Dean did misuse monies and outright lie to many investors, but most of this was done with the belief on his part that funding would happen. He has been flying around by the seat of his pants, on our dime, spending OUR money frivilously without funding in hand. He should have never comitted any money to any acquisition until financing was completed.
In view of the fact that a doubling of the Outstanding shares were being hosed into market spikes caused by last spring and early summer's activities it could certainly be mistaken for a masterful P&D. It sure looks like it to me.
So far as the history of EQUR/QASP, there is nothing unique here. In fact, it is par for the stinker pink course. Completely typical. Highly predictable.