Yes... He has been plugging away at the website for months now. If he was serious about it, either hide it from us until you have something decent to present, or complete it.
Name change? How many months ago was that announced. I Guess it is really hard to do some paperwork, put a stamp on it, and send it snail mail to the SEC for review.
This is a irresponsible business practice to show uncompleted work to the public. Since this is how Wayne runs his business, I can see why this company is doing so well. Business like this in any other company would have got you canned.