Replies to post #10956 on Idle Media Inc (IDLM)

[stockmule]

Hopefully the feds will sue/prosecute for fraud if in fact it happened and we don't have to spend money to do it.

[Thirsty Tiger]

Sure, why not. Somemone helped him(her)self to an "over-allotment".....lol. Next step could very well be legal, but by the looks of it, IDLM as a company is clean

someone else not listed owned a significant portion of those shares

I find it peculiar that the shell is doing a 506 D exempt filing at the same time as the S-1, and this could be (likely) the avenue they took to enrich themselves.

Looking over the filing, they had already sold stock to 34 non accredited investors and likely those are the ones in the S-1 filing, but........there remained $95,000 worth of stock to be sold at God only knows what price and my bet is that's where the rub is.

They didn't use a broker or dealer and there was no commissions paid. Speculations...but at the time leading up the R/M, the unsold stock could easily have slipped into some directors pocket for pocket lint