My appoligies. I think my post came accross the wrong way. The problem with how these shares are being sold, is that there is no legal reason why an individual can't purchase as many shares as they want. They are being sold without a prospectus attached therefore the proceeds can be used for anything the executive sees fit. The problem is that it actually isnt illigal what these jokers are doing, its just highly unethical, and if a bunch of ignorant individuals want to continue to fund this ridiculous business idea, guys like this can keep doing it. To answer your question, the money has been spent on "marketing", "prospecting" and promotional expenses. Trust me I think these guys are bluntly as low as it gets, but they are just preying upon ignorant people at this point. I would agree, nothing would be better for these guys to all get locked up, problem is people are handing thier money over for a worthless piece of paper and a really poor idea. Conman is probably the right word.
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