Don't waste the time and money. I have studied pennyscamming for 4 decades, and to my judgement and experience there is no way the SEC or DOJ will bother with MICHAEL WARD. He did a good yobb of disclosure - that is how it was so very easy for me to peg this scam just from reading a few of the SEC filings.
IMO, he walked the tightrope more than well enough and the amounts involved are small enough that nobody at the SEC or DOJ will waste any of their time on this. They simply won't. There are much bigger and easily catchable fish ~OUTT there than WARD. The SEC and DOJ have very limited resources to bring court cases. They are highly selective and go for big ticket and egregious conduct cases - MRGE is neither of those.
I know this is prolly unwelcome news, butt it is better to face reality BEFORE one wastes time and money that will just make for more loss and frustration.
I expect folks can divine that I am no fan of pennyscammers. Butt I also don't like to see pennyscamming victims revictimized.
Like a bandaid, just pull it off quickly and forget it. Maybe it was a lesson. (or for some maybe nott - in my experience)
My advice is accept the loss and follow a very simple rule that will never steer one wronGGG: Never buy pennystocks. EVER.
Also don't buy units of master limited partnerships. Don't buy timeshares. Don't be on the other side of an investment position against Goldman Sachs (Gollem Saxe), JPMorgan, or Warren Buffett - they will beat you. Even if they are wrong. Because they have the ammunition to do so. And they do not like being wronGGG. You cannot win by playing against the bigg doggs in the tall grass when you are a small dog.
Never buy a publicly-traded entity that is not an SEC registrant and make sure they are current (and has a history of always being current) on its filings. Never touch a Fatal Form 15 non-SEC registrant EVER. NEVER EVER!!!
Always buy management, nott an idea, CONcept, or technology. Management. Examine their track record, experience, and history closely - and skeptically.
Follow these rules and you are unlikely to end up with another MIRAGE. They will not guarantee success - there are still the Enrons and Worldcoms and HealthSouths that may pass these screens, butt your likely ~OUTTcomes will be vastly, vastly better than if one does not follow these rules.
Do nott chase your losses. Do not average down in losing positions. If time has shown that you were wrong before on a stock, chances are you are wrong on it again. Use stops to terminate losing positions early. Don't ride loser positions into the ground and don't compound your error by adding to losing positions. That is a gambler chasing their losses.
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