Steve - you sound more like a professional type of investor who knows about the Pink Sheet market. My folks knew nothing, absolutely nothing. They weren't even thinking of investing 10k. They were plucked.
I have reported all this in some detail to oiea at the SEC. I have not had a substantive reply from them, although they tell me it's been referred to specialist colleagues. They must have hundreds of similar complaints. We reported it to the fraud squad in England via the local police, but haven't got anywhere yet. They say they are dependent on the US authorities and no action is ever taken, although people are receptive to the issue in general.
My impression is they are moving from one position to another via a succession of dirty shells or whatever the name is, on the back of this "wonder technology". It's all plausible and the documentation seems to be in place, but where is the business? It's a house of cards. People are talking up a nothing into a something in order to slice off a profit.
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