Let’s discuss Ault and Corestream.
In June Rainbolt took over Corestream and all the reports, including those from IR, claimed that Ault was completely out of the company. I questioned that fact based entirely on the legal battles Ault faced and the prior working relationship between Ault and Rainbolt. Recent reports now highlight that Ault was never gone and worse, the man with the legal battles is back in charge.
Now in December I made it known that I filed concerns with the SEC and I later received a call based on the concerns filed. I reported that the SEC was looking into ZLUS. I was asked to prove it and was called a liar except…today my claims were substantiated by a former employee of Ault’s. I was called in December and today an I-Hub individual who was a former worker for Ault stated that she was fully aware of this investigation. The records show we have had no prior communications.
And so here we come to Friday’s 8K and today’s promises of this massive PR. After nobody could get hold of Ault all day, suddenly everybody could and the timeline at 6:00 EST was 1 – 1.5 hours away. It is now 9:30 EST and nothing has come thru.
These are all facts as are the open court proceedings against Ault. We similarly remain delinquent on getting current despite promises and we lack clarification on the divestment situation as promised and the well ownership obligations as promised. Ault can come out with a great PR but the question will be – truth or fiction – based on the history of lying this man has.
This is a CEO who recently misrepresented his credentials (22 years in Oil and Gas; now 21 in the PR) and has stiffed business investors and employees in the past. Nothing has been shown that anything has changed.
UPDATE: As for the PR now out, it says nothing. What will Corestream give up for these investors? What did they give up for the one well? What percent stake does the company have in the well and ….did he really blame the weather? I see that the company is no wheres near ready to be current with filings simply pushing everything out to the right. It will be interesting to see if they can hit both Q1 and Q2 as promised. Q1 probably but Q2 i would say has a 50:50 chance.
AI
