I was unable to confirm or deny BMI's allegation that Chip's previous company actually lost money (although Fourthturn Collective is clearly no longer in business.)
I called TN Sec of State, but they had no record of that company name at all (how weird). After looking in Nevada, Texas, and Vermont I just gave up.
I think there is serious speculation about Chip and gang. Hopefully the allegations are all false. I doubt that Circuit City would have engaged in an agreement of this type without serious due diligence. They can't afford the bad publicity that accompanies scammers and losers.
-KNOw3