The filings themselves show that over $50 million in common stock was issued to the Pref B holders…and almost all of them had a ridiculously low cost basis, almost nothing…which is another subject unto itself.
So whether it was 1, 5, 10 or 50 people around him…that was $50 million they were pocketing while the stock dropped over 99% in the process.
That is pretty much the definition of an insider enrichment scheme.
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