--true.. he's also wrecked his reputation. He's also out of new ideas which is why he's resorting to recycling his old ones. Looking back he put a ton of effort into his first ticker ARTFEST. Had a nice showroom, held events trying to recruit people to invest and join his muilti-level marketing schemes etc. He was actually generating revenues for a while.
Then he resorted to huge toxic financing, blowing up the A/S and O/S... pulling massive reverse splits with ARTS. He started slow with a 1-for-50 R/S. Then about a year later (November 4, 2010 to be exact) he utterly destroyed people with a 1-for-24,000 R/S!!! People who had 24,000 shares @ .0001 suddenly had ONE priced at $2.40. It didn't take long for him to dump it back down to .0001 again. That's a further loss of --99.99583333333332% BELOW the pre R/S value of .0001.
Then he goes certifiably insane --bartering shares for a laughably fake "Picasso" sculpture. He found some appraiser to state it was worth $75 million --that is >>IF<< it was authentic (which it clearly was not-- refusing to have Sotheby's or Christies settle that question. They would hop on the next plane for a prize like that). Undaunted, I think Eddie carried it on the books as a huge asset. He also listed it for auction on eBay with an opening bid of $29 million. Of course it didn't sell which means that goofy pump cost him $ZERO$.
After that I think Eddie said "screw it" and just started "story shopping" for whatever was in the news.
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