I have a friend from Norway who lives in Brazil and does financing like Dutchess with small crap companies like MMTC three or four times a year. His business is a Cayman Islands corporation. He laughs about these arrangements...... how destructive they are and everyone knowing it but do it anyway...... Sound familiar??????? MMTC is doing the same.... with Dutchess, Nunez, Haavig, Newhuis, etc. And guess where the share price has headed since doing them?????? DOWN.
My friends name is Geir. Geir says every one of these deals are with companies who have little of nothing and no hope of pulling it off....... Just like MMTC. He says companies who have something have little trouble getting real financial help.