I didn't say Gary set INOL up to fail, I said he set it up for the same purpose as the previous public company, to sell shares of stock for as long as he could. From Jan. to June of 2009 the "majority shareholders" approved 3 A/S increases to take the A/S from 3B to 20B in less than 6 months. Of course the A/S increases were to "increase shareholder value" for acquisitions, corporate expenses, etc. Oh wait, Gary said that about INOL too.
The "majority shareholders" approved it at INOL too.
WOW! What a coincidence!!
Gary diluted from 3B to ????? Nobody knows what the O/S was when he walked away in Dec. of 09 because guess what. The TA had a gag order on them too.
What we do know is that on June 17, 2009 while "increasing shareholder value", InoVet(a mirror image of the previous company) was created in Delaware where all you can find out is when the papers were filed. Of course when you pay the $20 fee for what is considered to be "public records" you have full access which provides the who, what and where, plus "status" etc. 1 payment for 1 search on 1 day. Even Nevada has restrictions.
All the information in NC and Florida are "public records" but anybody in any state can view them for free.
The very next day on June 18, 2009 Gary and the "majority shareholders" raised the A/S to 20B for the last time before Gary would walk away. That's the actions of a slimeball in my opinion.
Who's to say that InoHealth is profitable? In an interview he said something like, orders have been taken but many are sitting on the shelf. He was also asked about what university is the technology coming from, Gary declined to name the university. Reminds me of Gary not willing to name the lab where the "tests" are processed.
There are 4 differences that I can think of right off.
1)The "stock" was already at .0001 when the first A/S was "approved" and subsequently the other 2 also.
Here at INOL the dilution has been going on since Sept. of 2010 when the stock was hyped with the "plavix test" with shares selling as high as .1104 INOL has sold millions of dollars worth of stock, but of course we all know Gary doesn't get to keep it all.
2)The "majority shareholders" didn't vote to give a salary and benefits to Gary and Sharon for all their hard work.
As we all know at INOL a $584K a year salary was "approved" with lots of other goodies, health insurance, a company car and a very nice severance package are 3 that I can remember.
3)So far INOL has only had 2 A/S increases approved without having to ask the paying investors.
Well, give Gary and the "majority shareholders" time on that.
4)Gary has walked away, YET.
