Sure...there was a patent pending. But it had nothing to do with 'text-to-connect', which was what he based the entire premise on. He tried to secure the rights for text-to-connect from the patent holder, Intregen, failed to pay them, and then pretended GoIP had 'invented' the technology under cover of a 'confidential' pending patent that turned out to be for some sort of database marketing crap that NO ONE would have bought into.
You're right in saying he spent a ton of time and effort on it, but it was misrepresentation from the get go knowing full well that he could 'sell' the concept and the 'pending patent' more readily to penny-stock investors than to paying customers. And his 'efforts' did pay off...to the tune of several million dollars he made from GOIG and then SAVW.
Bottom line...it's not 'business', it's securities fraud.
They may not have been 100% scams, he may very well have hoped they would actually became 'legitimate' businesses...but that would require some measure of success, and for him it mattered not. So what's the threshold anyway? Is 50% scam a crime? 80%? I've always been under the impression that ANY percent of BS with a public company is something that someone should be held accountable for.
At any rate, best to you as well. It's not a me vs. you thing.
Oil.
AI
