I have absolutely no hope or belief in Seth's honesty or capability to run anything let alone a company with my money in it. I have expressed as much to the FBI in a very long conversation I had with the agent in charge of the Connecticut Office. Everything I told her was based on my research into Mr. Shaw's dealings with the Spongtech pump and dump and his Green Eagle Corporation. Interesting that Mr. Shaw received 500,000 shares of Spongetech just before the big sell off. I wonder if he still has those shares. By the way the CEO of Spongtech is a very close friend of MR. Shaw's. He was recently sentenced to two years in the Federal Penitentiary. His crime-blatant Pump and Dump. And how many shares of Taug does Green Eagle own?. We need more than an accounting of what happened to the 4 million. We need to know how many shares Treminio was issued, how many shaw was issued and for what reason.
I suspect Mr. Shaw is a very spiteful man. The shares of ITL are at risk either because of Mr. Shaw's personality or his incompetence. Or both. I was told by the FBI agent that she would let me know if they decide to investigate. Really, it is our only hope. Get a restraining order against Mr. Shaw and hope the FBI really takes up the investigation.
Many of these shares that Shaw and Treminio own were issued when the only directors and officers was Mr. Shaw and Mr. Treminio as far as I can tell. This issuance could very well be in violation of corporate laws that are designed to prevent this sort of thing and may very well be void. Seth might end up with nothing yet he keeps using our money.
At this point Mr. Shaw would be well advised to resign and let the new COO run the place. We do not need Mr. Shaw. Who elected him anyway. I quess he appointed himself when he was both the only officer and only director. How fair is that. The first problem is to get rid of Mr. Shaw and anyone remotely associated with him.
If those who feel the same way had enough votes we could do it. But we have to get organized and we need good legal advice. If anyone out there feels the same way then post here on and we will take it from there.
Think about it. Say ITL shares go to $100 per share. Do you really want Mr. Shaw in charge of $300,000,000 of easily liquidated assets. The time to act is now before it is to late. Mr. Shaw has to go. It would be better if Taug went into a court supervised receivership.
Again if any opinions were expressed herein they are just that. Opinions
