Seems to me Jaered and Carnes played the SEC as a bunnch of Patsies. may well have been that in the past but they decided to run their scheme at the wrong time. They, meaning most people surrounding this group including their families may well escape jail, however the fines, the time, the new rules and regulations that will have to be followed will eat them alive. Time is not on there side.
The question is did EESO have to report the shares. They appear to possibly have fallen below the requirement levels. I am sure they will try to play that card in court. EESO is learning how to survive without issuing shares maybe that is a good thing longer time.