Well Ken, the most suspicious activity that I found involved IRI receiving a pledge of 150,000 retricted shares of GIFS stock from a allegedly non-related party as a subscription offering in IRI's 504 offering.
Our favorite "journalist" told me that, as I recall, that he did not even consider the 150,000 shares as a credible "tender" for this transaction and that they had offered the shares against money to be delivered in the future.
Guys... what this basically comes down to is that Zayed took us all for a ride, some more than others like myself who were too skeptical to buy more than a speculative position in GIFS and IMXS. What I want to know is whether proof exists that he had knowledgable assistance from outside parties in perpetrating this fraud.
However, I see a hindrance in that you yourself, Ken, didn't suspect at first that Zayed was a fraud. If you didn't realize it, then a jury will have to decide how others not located in TN would have been able to realize it.
The key is whether press releases were actually authored by this outsider, or did he merely suggest certain input that would spin the news in a more favorable light. Either one would be dishonest, but the former would likely be considered criminal whereas the latter would be considered poor judgement. Our favorite journalist never stated that he was entirely objective, hence his extensive disclaimer.
Regards,
Ron |
