Ok, so let's put the pro forma aside, just for argument's sake...
What's his average achievement rate for his "announcements"? I'll save you the DD and tell you... about 5%
Now, when you're doing DD with the purpose of determining whether you will invest in a company or not, is 5% success rate enough for you? If only 5% of what a CEO says is done, do you consider this a good company or a bad company to invest in?
Any seasoned investor would tell you that 5%, even in the sub penny world, is BULLOCKS, A WASTE OF TIME... A SCAM...