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Friday, January 21, 2011 4:30:00 AM
Especially when you consider there was supposedly no One World bank account, SP was the treasurer and no record of where the funds went from the share liquidation(s).
Placing RL in the new role can serve several purposes as I see it.
1) Having the appearance that SP step down can appease shareholders who voiced dissatisfaction with his service or lack thereof.
2) RL can be given an opportunity to lead and execute his vision.
3) Shares can be added under the guise that new funding must be raised to support the new business model.
4) RL can be awarded shares, which he admitted privately that he was never awarded shares under his existing role.
5) RL can liquidate shares in order to be reimbursed for prior services rendered as he admitted privately that SP had ceased compensating him.
From my perspective, I believe that there will be an effort to raise the share price or at a minimum a campaign to attract buying volume in order to liquidate shares for RL to generate income. The real question will be whether folks buy in at higher levels or will the shares simply be sold at .0002 - .0004 range?
From my experience, anytime a company adds shares and can't provide proven results, the share price further depreciates.
Despite the change, I think the fact that another 1B shares being added to the A/S, the lack of audited financials combined with the closure of the key businesses no matter who's in charge increases our risk dramatically and spells trouble.
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