CL601R - the news about the restaurant industry isn't all bad, and it's great to hear that the restaurants you know about, through friends, survived; but the industry is still having on-going struggles. Just type this into Google: "how were restaurants affected by covid 2022"
to get an objective idea of what problems still have to be overcome. -- If you type this string into Google: "how many restaurants went out of business during covid"
it will show that COVID-19 upped the odds of restaurants failing (since restaurant survival is always a bit of touch-and-go). -- If you type this link into Google: "2022 state of the restaurant industry report pdf"
you'll get information from the restaurant industry itself that says that, on the one hand, things are improving, but on the other hand it might take up to a year for things to 'get back to normal,' where "normal" is actually a "new normal." --
Re business ethics -- it's not unfair that WCVC's restaurants are still operating.
On the filings thing - don't misinterpret me, to assume I am defending Nixon's decision to stop filing. I don't like it. However, I have done what anyone can do, which is to take note of what the SEC did, and did NOT do (as of now) against WCVC.
The SEC revoked WCVC for failure to file, BUT it accepted some sort of settlement agreement, which suggests some sort of break given to WCVC by the SEC.
which were actually abuses of the 'late filing' rules. -- Now, maybe what I'm doing here is making a distinction between what is legal, and what is "ethical," where ethics are somewhat subjective.
But shareholders have to examine their own 'ethics,' too.
Everyone can see that WCVC stopped filing in late 2020, never following-up on its NT 10-Q (filed Nov 2020), which said it would be late in filing its latest 10-Q for 2020.
Yet WCVC traded throughout 2021. You can see this on the charts T53 has preserved (plus maybe other places).
I'd argue that EVERYONE who bought WCVC during 2021, which was clearly *after* WCVC stopped filing, was bearing all of the risk on their own shoulders. Anyone who bought then cannot blame Nixon for not being transparent if they bought after WCVC stopped filing. They were all buying lotto tickets of a non-transparent stock.
Now, people who bought before Nixon stopped filing, either in 2021 or before, DO have a case to make; BUT, the charts show that WCVC actually had a bit of a run in early 2021, at which time prior holders could have sold and made money.
Anyone who chose to hold beyond those runs chose to bear the risk. (I myself chose to hold through those runs; but I bought in at .0000x.0001, so I bought in at as low as WCVC could go, not counting liquidation prices at .000001 which were seen a few times during the Expert Market trading period.)
I don't blame Nixon for stealing my money when I had a chance to get out and make money during 2021. --
One last thing on 'business ethics' -- yes, it would be great, and 'ethical' for Nixon to release some kind of update any time between now and two years ago.
However, I don't know what legalities he is currently up against, which place any limits on what he ethically 'ought' to do about making any public statements.
-- On the "God is watching ..." thing -- I'm not going to bother mixing 'theology' with business in this forum (though anyone is welcome to talk to me privately, if we can figure out a way to exchange contact information).
I will simply say that my 'personal research' into that sort of thing makes WCVC a very 'small potatoes' issue in the greater scheme of things. It's like worrying about a flea on a rabid dog that needs to be put down.