The clueless are buying! The clueless are buying! They have apparently done no DD whatsoever and talked themselves into believing that CSMG (CTGI) still exists as a viable entity whereas, in reality, CSMG has lost everything of any worth and been abandoned by management no less. It's a pity to see good money throw down a rat hole, especially, in this economy.
To recapitulate:
Live Tissue Connect, Inc., CSMG subsidiary and only "reason to be", was voided by Delaware. Live Tissue Connect, Inc. (a Delaware corp) is inoperative and defunct; it has been so since March 2010. (LTC owes $382,523.75 in Delaware franchise taxes to boot).
As a "foreign" corp, LTC's charter was also forfeited in California years ago.
Parent CSMG Techologies, Inc. (a Texas corp) has not renewed its corporate charter in Texas nor paid its franchise taxes. CSMG, as with its sub LTC, is headed inexorably to forfeiture and dissolution.
Manwhile, competitor ConMed recently patented a new tissue fusion technology that leapfrogs LTC. Conmed's previously announced Altrus tissue welding features advanced cut-and-seal technology. Indeed, Paton's patent is listed as "prior art" on the new Conmed patent issued July 5, 2011.
Then we have inventor Paton and his team making deals in China in April 2011 NOT ON BEHALF OF CSMG-LTC but on behalf of his E.O. Paton Institute to use his technology in Chinese hospitals. China bows to Paton's ownership of the technology. LTC, Inc. is not involved. China is outside the CIS (former Soviet Union bloc). That fact indicates that Paton, as inventor, has asserted his undisputed control of the technology.
Now we find that Paton's Ukrainian team has not only invented a new tissue fusion technology but also a way to weld bone tissue.
None of this is associated with CMSG and LTC, two now inoperative and defunct entities.
Not to mention that the discredited CSMG CFO is being sued for millions in a fraud case brought before a civil court.
To make it worse, the shell CTGI is hopelessly bogged down in huge debt and tax liens, and there are credible allegations of fraud in the financial statements. No sane business person would touch this shell.
"Denial is a not a river in Egypt." -Anon
ctgi
These are my opinions and sentiments. Buying stocks poses demonstrable risks; you could lose all or part of your principal investment. Use iBoxes for DD start.
Buying gold won't save your soul, but it might save your skin someday.
