Thursday, January 20, 2011 6:15:17 PM
So one scenario is there is a CEO without business experience, without knowledge of, and not that bright. He then receives a fax buyout offer. He puts out a press release.
Now anyone else with an ounce of common sense would know no one would pay $.04 for BTDG. Hardly any investor would take such a company seriously. But our dear CEO seems to believe anything that is sent him.
An IR firm that is a mortgage broker ?
Everything points to the CEO being perhaps the most unqualified CEO in the history of American corporate finance.
So just maybe he is a complete idiot rather than a scoundrel, and at least from their filings it appears only float is the shares issued for debt in 2010 , which doesn't seem to be to CEO.
Though I admit using their filings as a source of information is a bit problematic.
Maybe you are right , but where does it state CEO or even BTDG for that matter benefitted from this inane way of doing business. False document ? What would make anyone think this Paul even knew what he was filing or even read first?
What was false about the merger press release- you are assuming this CEO knew he was misleading or untruthful - you may be giving him more credit than he is due.
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