I saw similar posts from my searches. At that point the stock was even higher going back to May and June. I will keep a careful eye to watch for another downward trend. Hoping that is not the case and something has changed.
I did think this stock should show more growth than it has, was wondering why that was not the case. Your post confirms that.
Yeah, we knew something was up but we couldn't put our finger on it... it certainly looked like dilution -- however when you have the CEO releasing PR's saying... there's no dilution, then who are we to believe -- him or our lying eyes? The 1st two (yellow and red) outlined box in image below is what was diluted shorty after their infamous No Dilution PR.
A lawsuit was filed against toxic financier Magna and the Sason boys by Yippy, Inc. couple days ago, however not the first for Yippy.
Magna (fka Hanover) was one of the first big ticket finance deals that Dror signed up for that triggered the decline which led to the inevitable death spiral in 2014. He started with over a million dollars (I think $1.3m) and kept borrowing despite their obvious track record with decimating penny stocks.
Last I checked Magna was issued 53 million shares.
There's still quite a bit of toxic debt on the books, however since they won't report the embedded conversion feature and the source -- which by the way is what triggered the Auditor fiasco in 2015 subsequent to Johnson's suspension -- both CEO and CFO should've known that GAAP requires you to value the conversion feature as a derivative separate from the note at the time the loan was made, therefore without that info it's impossible to say with any level of certainty how many more shares are left to dilute, and at what rate do they convert.
They won't be able to submit to an audit as long as there's hybrid financial instruments on their books since they obviously are either unwilling or unable to provide that information in order to comply.
There has been some strides made in courts in states with usury laws to cap how much these blood suckers can squeeze out of companies/shareholders...one example is Union Capital v. Vape Holdings, which the court ruled in favor of Vape Holdings, but there's a long way to go in putting an end to this sort of abuse, but frankly blame falls squarely on management's shoulder for exposing their investors to undue risk and legal extortion.
I seriously doubt this lawsuit will succeeded in putting a dent in these scumbags operation.
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