Hello Vaughn,
As I am not a financial expert, I regret I am unable to answer your question. To be sure, the doc' is the best guy to address your concerns. (Maybe you should get some accountant to look at that Quarterly Report. But, as that report says, it was "Prepared by Management Without Audit".)
I believe that arrangements had been made to "collect" the debt money (or "theft") you referred to. If I remember rightly, Don Farrell was to somehow promote LMX and sell 1,000,000 shares of LMX and repay GMD overtime. Regrettably, I now don't remember the details of that arrangement. I won't be surprised if LMX might, amongst doing other things, dot com, that is .com itself to help it get going! Remember how pinkmonkey skyrocketed! But unfortunately, the days of internet mania seem to be over.
Rightly or wrongly, I tend to believe some people at GMD are going easy on Don Farrell because they regard him as having done very significant work for GMD in the past, despite having misused or "misappropriated" GMD funds. To be sure, GMD shares were manipulated big time in the past before the new management took over.
In all fairness, I have to give thumbs up to the new management for having done much, under great difficulties, to keep GMD afloat and alive after the debacle that had brought GMD to the brink. Also, it would appear from the Quarterly Report they have been rather frugal , and I consider GMD's deal with Monopros to be rather significant even though many "fleeced" investors are still unhappy.
To be sure, the SHORTS in the market are out to fleece GMD all they can. Hence the proliferation of rumours. But then again, we all have to tread warily: as the saying goes, there is no smoke without fire. |
