That's true enough, fortunately for him he was able to dupe enough people with the fake cell in order to give a sweetheart deal to their friends (Beifuss at Cumorah) and people he worked alongside (Boden of Bountiful & Jonathan Lei, a convicted stock manipulator, of Pearl Innovations). They only put in $100,000~ and are set to make $10,000,000+ from their deals with the company.
There should be no shame in anyone admitting they got duped on the cell, they are victims of a slick marketer.
hey could have done the SUNworks deal the company selling shares directly to the public, instead from what I have been able to put together, those 'third parties' converted their $100,000 note into $900,000 of ordinary shareholders cash.
They then took that money and put it into the toxic notes they are converting today. Had the company done normal dilution (i.e. just sold shares on the market to raise the required capital) this would have been history a long time ago. Instead it's still a problem years later and you can thank Jim Nelson and his friends for that.
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