You posted "the SEC should suspend trading in IENT shares. That's my opinion." When JW regained control of IENT, his intention was to take it private but some shareholders were not selling. This resulted in the very small float!
Of the 8,500,000 shares of Common Stock acquired by the Reporting Person, (John W. Stealey) the Reporting Person acquired 5,100,000 of such shares for $255,000 of the Reporting Person's personal funds. The Reporting Person acquired the remaining 3,400,000 shares by exchanging 3,324.217 shares of the Issuer's Series D Preferred Stock, and such shares of Series D Preferred Stock were acquired from RGC International Investors, LDC by the Reporting Person on December 18, 2001 for the sum of $170,000, which amount was paid from personal funds of the Reporting Person.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Person acquired the securities described in Item 3 above for the purpose of acquiring effective control of the Issuer, both at the board of directors level and the day-to-day operational level.
IENT filed a FORM 15 on March 28, 2003! That delists IENT's shares under 12-g-4 and IENT is not required to file anything. IENT has been trading for over TEN years without filing and if that is a problem for anyone, then they should find another stock.
Danny, age 50, is the CEO and is NOT A BOY! - He is not the bookkeeper either. He just spent the better part of two weeks at the ATA and SHOT shows demonstrating the game and talking to potential new sponsors. It's his job to build the company and that is what he is doing. JW is the Chairman of the Board, perhaps you should contact him.
Since huge companies like Bear, Remington, Barnett, Easton, RealTree, Trophy Ridge, Rinehart, Muzzy, Champion, etc. have no problem signing contracts with IENT, then I have no problem investing in it!
Audits are expensive and take time. IENT is slowly but surely building up revenues with the game first. Have you played it? They didn't spend all that time and money to make this game just to stay dark forever, that's just not how former executives of Fortune 500 companies do things.