For fraud intent must be proven,not an easy or cheap thing to prove.Look Tims buddies were sent away for 10 yrs last year for P&D on this pos and he's still the ceo.What does that say about Chris?It said to me that they would rather take convertible debt and let note holders deal with the market.No restricted paper was issued as they knew it would be reversed again.Nothing illegal.Now if it was proven that friends or family of the Ceo's were debt holders and directly benefited from delinquent filing clauses in the notes?It would be interesting,but that will cost discovery $$ and a nice retainer..