It's no secret I'm not a fan of PRPM's CEO for good reasons IMO. That being the case I often do DD on those he partners with because I feel either (a) they don't care enough to Google his public record or (b) they do and still don't care.
I was critical of the PRPM/SMG marriage from the get go. I criticized both for claiming to run empires from spare rooms on their houses (BM's claimed to run a "global" operation with offices in several countries but which was based inside his parents house). Barry didn't appreciate my warnings, lashed back at me and defended Eddie to the hilt. He made grandiose claims of how much "cash" he was getting from the deal.. and I assumed he believed it would be paid.
I also questioned how a dinky company like PRPM with its paltry market cap could pay "millions" for SMG-- especially when the CEO was actively acquiring other entities (Legal Clicks, Artfest etc ) while also defending himself in a big lawsuit with his former ARTFEST IR person (which he lost and was ordered to pay $500k) and being grilled by the SEC over ARTFEST which they soon revoked.
Once I learned BM was autistic (Asperger's) I backed off my full frontal criticisms and praised him for making something of himself. Regardless, the "acquisition" announcement of 2/22/13 flopped and the stock soon slid to .0001 as I recall. As usual, EV turned attentions to another ticker (TDEY) and apparently left ole' "Beer Can Barry" waiting for te check. Anyway, I warned him and I assume both wish they never heard of each other.
Again, I have no idea or opinion whatsoever regarding the merits of Barry's charges or lack thereof. I'm neither a lawyer not other qualified advisor or expert in such matters nor do I care to be. I'll continue watching from the bleachers and "balls & strikes" as I see 'em.
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