If your analysis has validity, then the issuance of new shares was not legit. We don't have to worry about a R/S. Where are the monies these guys raised after thinking they had control? Is X-CFO Dan going to jail? Who really owns/controls the company? Whose name is on the title of the Elmhurst house? If they started the process of building on the 3 properties they control, what happens to all the plans given to the building dept for those sites?
Two scenarios detailed below.... 1...... you had an agreement with Dinorcia that he sell it and then return the 100k to you, by default you gave him uncontested ability to legimately sell it. That he stiffed you after the sell doesn't invalidate the sell he made. It just means you've got grounds to sue Dinorcia.
2....you had a structured note, hence he was in default for years. Apprently if structured you didn't enforce the provisions of that note and amended to the above verbal agreement.
Which is it, 1 or 2? What were the terms of the note?
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