we need to remember...
- The representations of previous offshore funding, investment in new target companies, record revenues, staggering profits and bountiful retained earnings by our Company was effectively repudiated by the CPA as being misrepresented.
- The representation of previous offshore funding, investment in new target companies, record revenues, staggering profits and bountiful retained earnings by our Company whose repudiation by the CPA was assented to by HH.
- The Company has failed to report financial results for the full fiscal 2012 year.
- The Company has failed to report financial results for part of 2013.
- The Company with great fanfare announced a funding of Vistagen yet has failed to close not only when contracted to but even after amended and extended closing dates.
- The failure to close with VSTA is no different than with Suntrough, GreenSafe and BB Solar.
- With the exception of BB Solar, none of the target investments ever issued a press release saying the deal was dead bur rather hoped that the absence of a statement would allow the sad state of affairs to become a distance memory.
- The SEC has suspended trading in BGMO.
- Various securities, tax and other oversight bodies in the US and Canada have received complaints about BGMO, its principals and perhaps some of their known proxies.
If all of the above is factual then where do we go from here?
If you have a share certificate, frame it as a reminder of what not to do.
Can you sue for damages? I do not know. Who would you collect from?
If you believe that BGMO will rise from the ashes then consider these thoughts:
- If complaints have been made about the CPA prepared statements and an investigation is deemed likely, what are the odds of BGMO finding another CPA firm to perform an audit given this known history? Can you see Price Waterhouse doing an audit?
- BGMO has always lived (and been promoted) by living vicariously through the super secret offshore funding channelled through a BGMO controlled party. This is getting a little stale given the track record. What bigger story must our Company tell to attract new investors?
- BGMO has also been promoted through the vast future profit potential and environmentally strong prospects of solar energy, clean coal and advanced recycling. None of these deals closed since BGMO never provided the capital.
- How many millions of shares were sold during these Big Biz show and other promotions? If you look through the dilution, the share trading and the evidence of some warrants being issued, there is a strong correlation. Is it a pump and dump? Only the SEC can comment on that.
It is a very sad state of affairs.
If only BGMO could have landed the capital, any capital, we would now all be rather well off.
