I think I know what is going on around here.
Riosun.
Jeffery Mitchell did some ddd on this relationship, giving a lot of information I didn't know.
I remember watching Riosun in 96, it shot up, I was going to short it when it got over 5 but It got halted to fast. Didn't pay much attention to it after that.
Then Before I noticed ABFG, I had a holding in SRA which was also doing mining in Madagasgar. Made a small amount on it, but got out when I started getting nervous about a failed deal.
Now...this is from memory, so nobody crucify me. It is well known that Sklar was involved in RIO. My understanding of it is...please people...I am working on 3 year old memory here with nothing written down....my understanding is Skylar had the claims in Madagasgar in his name, and when he "left" RIO, the claims went with him. Another person involved in RIO also left and went on to form SRA. Mr. Wong If I recall correctly. I was interested in the gem stone mining in Madagasgar, ( Why, I don't know ) so I followed SRA, made enough to cover the brokerage.
Along comes ABFG. Mining in Madagasgar. Except they had the added twist of internet marketing. I thought this was a good idea. And judging from the last earnings...ahh..."Report"...the bulk sale of jewels accounted for the majority of revenue. I had no idea at the outset they would expand this is the "Internet Mall" and ABFG TV which is evident now.
When I bought ABFG, I knew about RIO, and SRA, Obviously. I even talked to Todd and Gerry about it. How they felt about the previous problems. I didn't think it would be a big issue.
I guess I was wrong.
I apologize to Collen for the Idiot remark also. Lost my cool in the heat of the barage.
Once again I will state I am out of ABFG. Got out a while ago as I was uncomfortable with the developments, and I didn't think the price was sustainable with being fully reporting at the very least.
ABFG needs to address these issues. Officially. Not have the laundry washed out here on SI. I wish they would do that.
Good luck to everyone.
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