Jeff...why don't you just call them up, and as a prospective buyer or generally interested person, eg. a shareholder, what capabilities do they have, and what the pricing is. I have done this, but it was some time ago, ie. before acquisitions, and received what I thought were decent answers. Such an effort is certainly justifiable at this point, and the company should be quite prepared to give you the details. After all, old fellow, you may well want your WAN if and when you make a good return on your investment. Just think of it, you could hookup to the prison of your choice, and offer your sympathies to the crooks who perpetrate stock fraud. You could link up to your psychiatrists, and have on-demand psychotherapy for traumatic shock syndrome.
As an aside, I don't think sending these people to prison serves any useful purpose. It's counterproductive, very much so. Prisons should be reserved for wild animals who go around hurting and threatening others. The cons should have to make restitution in a carefully monitored community environment, ideally. With a much improved level of supervision and electronic monitoring. But this is a much deeper topic, not appropriate for this forum.
At any rate, you should call up the company and get the details, and post. You will be more enlightened than I was way back, and will have a more thorough discussion, I am sure. I think the worst is behind...it can't get much worse...The company must be worth at least 25 to 50 cents. Maybe a dollar, with a possible 2-3 not out of the question in the next few months. At this stage, the upside potential is much higher than the downside risk.
With respect to legal issues, there remains a paucity of information regarding this topic. If a major (or minor, for that matter) firm illegally perpetrated stock fraud, we need to know our legal position, and find a suitable vehicle to pay these people back. It shouldn't cost a penny, nor should it involve the company. The premise is that the shareholders should be the beneficiaries of any action. Who cares if it takes 1 or 2 or 10 years? How else does one protect people from scams? If you don't pursue these things, you are simply acquiescing to their continued perseverance. These things are like weeds in your garden. You've got to keep after them. |
