Wednesday's alert, we talked about our conversation with an attorney, which was predicated by his objection to allegations we made about his client. We noted that the attorney, perhaps unknowingly, revealed that his client was the actual financier of the promotions even though touts had identified the ever-present third party as their financier. This is a deception we talk about in our article, It's A Pump & Dump. The commonality of this ploy was further evidenced by a September 21 press release intended to be a letter to shareholders of Onteco Corp. (ONTC). In that letter, ONTC President, Dror Svorai, admits: "Several of you have noted that we have periodically engaged in "investor awareness" campaigns. On an intermittent basis we will continue to do so because as an early stage company with (to us) significant investment at stake, we believe we need to broaden the reach of our overall message, not only to the average investor, but to third parties who may be able to assist us in our future strategic and capital formation needs." We'll point out that the touts' numerous emails to their subscribers, claimed that it was a third party that had financed that campaign, not the company. Tsk, tsk. Caught in a lie. We'll also point out that, not surprisingly, ONTC's share price is down more than 80% from the highs achieved during the last PnD campaign.
When I read the complaint - the 1st I thought was the person bringing it should have sued himself. Lol. He made a bunch if poor designs given what he knew.
As someone pointed out a few days ago, the guy had some bad business decisions with real companies and he didn't quit. He's trying to launch a successful company and make some money in my opinion. Entrepreneurship can be ugly when someone's trying to buy you out of your own business. It's tough enough making a business successful for most any way. All my personal and humble opinion of course. SS1
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