Replies to post #30144 on Seven Arts Entertainment Inc (SAPX)

[lowhangingfruit]

Has Seven Arts Entertainment mislead investors with their PR's over the past 18-24 months?
- yes (but they will claim protection by massive disclosures)

Did NASDAQ and the SEC react responsible on behalf of investors?
- yes (they have to run by a set of rules, and they are sticking to them. One suspects PH also threatened them with his normal Blitzkreig litigation if they tried anything fast)

Did Seven Arts Entertainment mislead NASDAQ with potential future company performance to even get the 6 month extension?
- yes (but that is a guess, until it is made public)

One would think that somehow they showed NASDAQ evidence that they would meet $1.00 yet 6 months later, we were under .03......
- yes, but the simple fact is: cash was taken out and put into property in Louisiana and paid over to "lenders" like Palm who are closely related to the company ...

Was the approval for a 1/70 R/S approved by a proxy vote?
- no idea, probably just used new powers under Nevada law?

Are they a candidate for a Civil Action Suit?
- OH, YES, indeed they are (IANAL, but seems like they qualify to me)