[[ It's there, it's just not ready yet. ]]
If you look at the SEC filings by the company, you will come to a different conclusion. Take a look at sec.gov for the SEC filings.
For example, here's a quote from the last 10-K (annual report) which is available online at sec.gov : "The Company also purports that it has developed technology that transmits information and data using different wave patterns, configurations, and timing in the electromagnetic spectrum. The Company refers to this technology as digital wave modulation ("DWM"). (...) the commercial feasibility of the technology has not been demonstrated.
The reason that both the SEC and the shareholders are suing IAUS for stock fraud is that the company hyped the stock by placing ads in places like "Investors Business Daily" claiming that they had a revolutionary technology, and then staging the demo that wasn't in June 1996. (Probably, there was no demo because the claims made for DWM violated known engineering laws.)
The SEC does not do these things lightly - the information on their case is online at sec.gov . They had a 2 year investigation, and they usually prevail in the courts, so Neldon Johnson and IAUS had better be prepared to prove all their wild claims, otherwise, the SEC will go after 3 million dollars in damages.
Personally, I think that Neldon Johnson and the rest of IAUS deserve everything the SEC and the shareholders do to them, for the millions of dollars in losses they caused gullible investors. And yes, if you go back to the beginning of this thread, you will find that I have been a long-time skeptic of the company. |
