Well, I on the other hand, did not buy in @ $1.10, so my money is still safe.
I played that game with this CEO many years ago.
I personally don't think he's trying to scam anyone, he's just horrible at being a business man..., and after awhile the people that had believed in him start to think that too and leave.
A couple years go by and a new group of people show up and it starts all over...