is possible DL/CLDR really did get stuck by BA (Big Apple) and is sincerely trying to show transparency while resolving the issue.. in this excerpt disclosure/email he discusses communication with the SEC late last year regarding this very subject.. it's confirmed and verified by both the TA and FL SOS filing the A/S has been lowered from 5.0b to 3.5b as of 02/01/11, that doesn't look like a typical pink scammer to me..
regardless, it's all spec-o-loation at this point, I imagine we should know more in a matter of weeks if not sooner..
excerpt from Lovatt's disclosure/email..
16) Sept 2010 David Lovatt resigns as CEO of MMUH to concentrate on the legal and funding issues surrounding CLDR and its case against Big Apple Consulting and Carl Duncan for their alleged illegal removal of shares from the company via its escrow account. This ‘case’ continues. Daniel Jenkins steps up as CEO of MMUH and David Lovatt remains as President of MMUH. Daniel Jenkins takes day to day control of the business.I regret not putting in the PR that I was to be President of MMUH, but I can’t change that now. It didn’t occur to me to do it at the time.
The above is a messy affair I agree, but in no way has anything been done without disclosure and announcements to the markets and there is certainly NOTHING illegal or fraudulent. We were starting to get things moving nicely in CLDR and now, again, this is in jeopardy. For those asking, I had a VERY long and frank ‘disclosure’ conversation with three SEC attorneys during late 2010 where I went through all of the above – even going back as far as my own personal history since leaving University over a decade ago. Their aim was to ensure that we weren’t another Big Apple scam pump and dump company. I can’t vouch for their beliefs, but I would say there was no doubt in their mind that we were a genuine company that had been ripped off and duped at every step of the way.
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