Paul,
According to the IAS SEC filing you reference, not only is DWM not "proven [or] implemented," and only "under development," with the "300,000 to 600,000 baud" transmission rates "through POTS" only something the Company "hopes to achieve," and the much touted "6,000,000 baud rate" (now over coax) merely a rate that is "only theoretical and has not been proven and tested," but we are further told IAS does not even own the DWM technology; Johnson does. Shareholders own stock in the Company, not Johnson. What if Johnson elects to sell the technology to Motorola or another "big boy?" Where are the IAS stockholders then (assuming, of course, the technology even has a prospect)? As the SEC filing discloses, there is no formal agreement for IAS to even acquire the DWM technology from Johnson. Even if IAS does acquire the technology from Johnson, it has no cash and can only pay in stock (the suggested price range, according to the SEC filing, is from 6,000,000 to maybe as high as 12,000,000 shares -- to be negotiated later, . . . perhaps). If IAS acquires the DWM technology, it would mean other stockholders are likely to be, or have their ownership interest, diluted into oblivion. Moreover, in light of these disclosures, what are we to make of the failed public demonstration way back when, and the representation then that the actual demonstration was precluded by patent considerations and that the technology actually worked.
In light of (a) the foregoing facts, (b) the SEC investigation into IAS' misrepresentations (reread folks, the literature IAS sent to stockholders responding to its investment newspapers ad and the actual ad itself, claiming an even higher transmission rate, among other misstatements, as well as the clear implication that IAS owned the DWM technology) and (c) the pending class action which targets some of these issues, I am amazed that IAS has any advocates left on this thread, but I guess belief and denial -- particularly denial induced by financial loss -- transend the facts, and hope springs eternal in the human heart. To me, it is simply sad to see so many lose so much, particularly when the old investment saw "Buy on the rumor and sell before the fact" would have reversed that situation for many.
Regards,
Kimball Corson |
