Thats the problem. Bill never corrected the public record when his IR group was making all the wildly speculative claims or when James guaranteed the $135 million contract. That's where he would get drilled in civil court if shareholders ever banded together or if the SEC followed up on complaints. Problem with a civil suit would be trying to collect or even get him in court. The SEC probably only bar him from being an officer of a publicly traded company again and levy a small fine due to extenuating circumstances.

It only takes one shareholder with deep pockets and principle to get the ball rolling. If Bill continues to communicate in the current manner, he may well have one finally reach a breaking point. It has been almost two years now since anything remotely substantive has been issued or released by the company though bill claims he is working 12-14 hour days. If he is, what is he actually working on?