cbm, I disagree. I don't think that Pope will ever issue a press release explaining that the loan was not funded and why. He will keep trying to stimulate buying of IJJP stock until it's diluted to no bid again. Then he will go silent for a few months during which time he will do yet another reverse split.
That's exactly what he did after the 2009/2010 dilution scheme in collaboration with Big Apple Consulting.
Of course the DTCC may take action in the meantime by removing IJJP from the NSCC Continuous Net Settlement System (CNS) or suspending all services but custody, which is known as a DTC Global Lock. Several of BAC's former clients have already met this fate for issuing unregistered Reg D 504 shares using an exemption they did not actually qualify for.
IMO Clifford Pope knows DTCC action is likely inevitable as he knows the exemption was bogus. He likely wants to sell as much as he can before the stock becomes illiquid.
That is merely a formality and to say it will not happen without being privey to the interworkings of the company is hearesay. You should preface your remarks by saying that it is your opinion, and not declare it to be fact.
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