Check your facts before making accusations. 2.1 million unregistered preferred shares were sold by Paul Rosneberg, mCig's CEO, in a private placement from his personal shares and used to cover company expenses. They are not counted in the OS and can not be sold on the market unless they are first registered. Since they were his personal shares he had every right to sell them and use the proceeds as he wished. The sale occurred between 5/1/15 and 4/30/16 so for all practical purposes they are now ancient history. There was no violation of SEC rules since he is allowed to sell unregistered shares in a private placement.
Since then, Paul has returned 5 million of his personal preferred shares to the company treasury. He and Mike Hawkins, the CEO also purchased an additional 25,000,000 common share for $100,000. The company has also changed its employment practices and now salaries and bonuses are allocated on a pay for performance basis.
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