8000 Incorporated (EIGH)

[Renee]

Patchman : " If they can not show the cash in possession at the time of the declaration the SEC will 100% view the announcement as fraud and manipulation . When a company declares a dividend they are committing to an expense and they must then prove that they have the capacity to fulfill this expense . "

The burden of proof is entirely on EIGH to prove the company had $40 million liquid or escrowed cash at the exact moment the dividend was declared . Absent such proof the company likely committed Securities Violations and fraud on materially false declarations , and all actions thereafter with regards to selling of ANY shares by the company , or by insiders , or by knowledgeable persons connected to inside information that would have been known to be materially false would be complicit in aggravated Securities Violations .

The company's retraction of the Dividend does not exculpate them from their original declaration . They either had the $40 million at the time of the Dividend announcement or they didn't . Hoping or anticipating they would have the money would likely fail any scrutiny .

Even if 8000 Corporation were to prove they had $40 million in liquid or escrowed cash their failure to rescind the Dividend as soon as practicable when they knew they could not effectuate the Dividend was still deceptive for likely nefarious purposes , of which any selling of shares under false pretenses by persons knowledgeable of such falsehoods would be Securities fraud .

As I see it ,

Renee