How did he declare high valuations as recently as year-end 2010 if they all trade at that price and have next to nothing in market cap? That is, how did he get away with making such claims to his investors? I have it in black and white. If that isn't fraud, what is? Why haven't they arrested him?
Was he basing it all on the face value of the convertibles? That's like valuing a Confederate bond at face value in April 1865.
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