Alan,
I wish I could start this by saying that it will be my last post to you on the subject, and I hope that turns out to be possible. However, I feel so strongly about the point I am making that I cannot simply abandon it because it makes some people uncomfortable.
I don't mean to imply or insinuate that I think you did anything to intentionally mislead anyone regarding this stock, because I truly do not feel like that is the case. I think that if falsities were told, it was likely by whoever was writing and/or approving the news releases themselves. I believe your status of "individual investor" is genuine, and you probably had as much of a clue on all of revelations as any of the rest of us.
So why do I choose this thread to try to make this point, when I have not been an active poster here in the past? The answer to that can be found in the similarities between this stock and MIDL, which is where you chose to wage your unprovoked attack against me.
Like Midland, IKAR, whether intentionally or unintentionally, made statements about their company that have turned out to not be true. That cannot be disputed.
Like Midland, IKAR had a major shareholder, who out of pure belief in the company, became an active investor. By active investor, I mean the person was in regular contact with the company, and became a source of information for other investors who did not maintain contact with the company, for whatever reason.
The things you have done on this stock, while with the best of intentions, are no different than the things that Gary did on Midland. However, you seemed quick to judge him as guilty of wrongdoing, probably never in your wildest dreams thinking that you could be accused of the same thing yourself.
Now, I have taken the liberty of pointing out the similarities, and think it is only fair to point out the differences too.
You have stated that you have never made a private placement, and I believe you. However, I do not think it matters. Many a stock is manipulated right on the open market, through the use of retail brokers. You feel that Gary's private placement of a different stock was compensation for his posts on MIDL, and he says that all the documentation says that he made the placement at a higher price than the trading price when the placement was made.
Another difference, Midland has been halted, and IKAR has not. This is probably indeed because IKAR paid the money to make the news release. I still doubt that they would have done it had they not been encouraged by the SEC, even just a little. There had to have been an undrlying cause for the SEC to have even been looking into their affairs in the first place.
In conclusion, Alan, I want to say that the wrongdoing of which I accuse you is not of intentionally misleading others by putting out false DD, but of being more like the pot calling the kettle black.
I consider you every bit the victim in this stock as I do Gary in Midland. We all sit here and go on and on about how we should "trade what is right for us", and "do your own dd", but sometimes we don't always practice what we preach. DD has become no more than what the company wants us to know, whether its true or not. I feel that the SEC, while well intended, is terribly underfunded and understaffed to handle the magnitude of this problem, especially since the internet became a factor. I feel that while none of us particularly care to admit it, none of us are immune to the damage caused when companies lie about what they have. Midland gave false information to Gary (and others, INCLUDING yourself), knowing that information would be passed that info on to others. IKAR provided you (and others) with false information, knowing that it would be passed on to others. I do not consider the messenger the wrongdoer, rather, I consider the original liar(s) to be.
I bet you never thought this could happen to you, and I bet you wish it never did. But, another big difference between Midland and IKAR is that with IKAR, I am not as quick to judge you and your actions as you were on the Midland thread.
I don't think we need to go on about this anymore, and I hope IKAR survives this major blow and does well. I just hope that the next time you are faced with a decision as to someone's guilt or innocence in something, you will remember that it could always be you in their shoes.
Regards,
Binder |
