I always tried to bring up the financing issue (post 8481 etc} but noone wanted to hear it; the momo was on. There was so much false DD being submitted at the time and of course I was a basher.
Red flags were everywhere. Arne had no money; Cornell was the financier; "Step 1" was the only thing discussed by Arne; no audit of Syrei; then the default by Arne on Cornell contract leading to the 25% discount on preferreds and a 500M share warrant.
Whenever I hear good news about these lowlife stocks I go to the Balance Sheet and ask myself how will it be paid for. Most pennys put out news so they can sell stock. Therefore, play the momo and get out with a profit. One will be correct over 99% of the time.
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