I agree with your main point. It's important that people know what a company has done in the past.
There are ways to talk about the past that are not so destructive of future potential. You are using the word "lie" to blacken the character of a good man. There are other ways to see what happened, especially since I don't think you or I know much about the actual interactions JB had with investors, who may not have been left in the dark.
Many times I have put money into private ventures and found that things did not follow the course the entrepreneur had laid out. However, when you are dealing with a good actor discussions of the new situation occur, and recognizing new facts, agreements to go forward on a new basis can be made.
Suppose I put money into LBSR expecting drilling to occur, as did Jim Briscoe. However, the total raise fell short of what everyone expected. Now we've got a new situation. An unfortunate one, true. But what do we do? Do we let the claims lapse and just imagine that we are somehow good people because we do that, or do we grimace, pay the claims, and try to find a new way forward?
So, yes, describe exactly what happened. Tell the entire truth. That's good information about a bad situation. Then, please, try to abstain from character assassination.
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