VG Life Sciences Inc. (VGLS)

[jurisper]

The info statement shows apparently-recent issues of restricted of ~8.9M restricted shares priced at ~$160K to Martin E. Weisberg for "consultant/advisor services".

Weisberg is an ex-Baker & Mackenzie attorney currently facing trial in two unrelated securities-related criminal matters in federal court in Brooklyn. Jury selection for the second starts on Monday; the first seems to be dragging on forever since his indictment in 2007 (it's for the Xybernaut/Ramp scam, in which Weisberg played a key role - related SEC complaint http://www.sec.gov/litigation/complaints/2007/comp20341.pdf ).

He was a close associate of Hugh Austin's back in the day, including acting as attorney for Austin's Wonderland Capital, which of course is one of Austin's vehicles for "investing" in and "advising" VRAL. Weisberg was VRAL's initial contact at B&M when they acted for VRAL in the T&T matter, no doubt referred by Austin (B&M resigned from this after Weisberg's 2007 indictment).

Why are VRAL using Weisberg now & what is he doing for them which is worth $160K?

Not anything to do with getting restrictive stock legends removed, surely! But I imagine Weisberg's own legal bills are pretty heavy - two multi-year criminal cases & the SEC action ...