Posted On: 06/12/2014 6:13:59 PM
Post# of 36729
Re: enough said #35213
Preaching to the choir here with points well worn. The principals at SKTO/AEGY were well aware of the tendentious environment around mmj, but what probably got them in the end were the phantom revenues ($50mil) and phantom net income ($17mil) with nothing collected. Naturally, nothing could be collected from ad hoc IEquity collectives. All written off. Perhaps, they could have gotten away with what looks like big-time fraud, but then along comes a major offshore financed promotion in April '14 that touts the fudged numbers as real revenues and real profits in a pervasive $600K promotion that Mayor/SK never disclaimed publicly. Instead, Mayor and Burke pick a pliant lawyer with no experience with SEC to take dictation and sign the lawyer's name. They were practically begging for suspension, and the SEC complied.
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