Well as a CPA who was a former auditor and worked for a large publicly traded company, I know for a fact that things are not as clean cut as you portray and there are many ways around these items.
To think that James did not get a securities lawyer to look at this before doing it is comical and to think that he would do this knowing that he would get sued is comical as well.
What benefit currently does he have to go through all of these hoops when he has not made a dime off of the company?
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