I'm sure you're aware that when a company intends to go public (especially small caps), there are vultures everywhere looking to swoop down with all kinds of offers. I talked to one ceo and he told me the difficulty in even resisting...they were so convincing!
I mention this because it is very possible, management made unwise decisions; not knowing what they really were getting into. That could include Crane, Red Chip etc.
We know about Crane and I'm not crazy about Toups either. I don't think Red Chip is scammy....more like a business (that probably takes advantage).
With all that said, there are definite signs that the company is attempting to rise above it. That was a big step they took with the reconciliation. If I'm not mistaken, the accounting firm has been with them for a long time....that too would show some confidence.
I did write Toups some time back and he never bothered to reply. With virtually every stock, you're forced to gamble on their integrity....thanks to the do-nothing government and SEC that we have. I think about the billion dollar fines the real scams pay; like the banks and the pharmaceuticals and yet, there's never enough money or manpower available to truly prosecute the criminals, so we little guys could catch a break.
Anyway, with all the fanfare going on, Lph seems to be weathering the storm okay. At this point, I'm willing to take the chance.
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