Sure, pump and dumps spike all the time. Depends on the fairy tale. So what? 20 million users and a half million revenue in a quarter that only paid half the bills. Sale price of this magnificent company was $2M cash, probably wasn’t worth that.
Add on top a CEO who ran pyramid schemes and committed securities fraud to maintain control over the company by acquiring 60M shares in an undocumented transaction. That’s a fraud against the shareholders, as he has voting control to do anything he wants with that $2M software package, could sell it to anybody.
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