Later in the complaint, Sharp discloses the payment he agreed to receive for promoting HAIR; a copy of that stock promotion agreement is attached to the end of the complaint linked above.
The AGREEMENT required the Plaintiff SHARP to be paid 300,000 free-trading shares at the time that the investor awareness program began. The shares issued to the plaintiff did not become free-trading until July 10, 2012, when the shares were already trading at a 42% discount from the high share price achieved during the investor awareness campaign.
Related to this lawsuit, some Biostem insiders and financiers were arrested by the FBI in February for conspiring to manipulate Biostem and other stocks. Sharp was not sued by the SEC nor was he arrested. I really don’t understand why he filed the lawsuit at all — his chance of recovering any money has to be very low with the Feds involved.
One of the more interesting things about this lawsuit is that First MicroCap Report LLC was always disclosed as the owner / publisher of FirstMicroCapReport.com, not Market Broadcast LLC. Yet the promotion contract with HAIR was with Market Broadcast LLC, not First Microcap Report LLC. I can think of no legitimate reason why Sharp used two different LLCs for his stock promotion business.
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