Savage: Properties could be salvaged with the coop
Post# of 36729
Posted On: 06/16/2014 5:39:51 PM
Re: AmericanSavage #35288
Savage: Properties could be salvaged with the cooperation of the principals who pushed SKTO/AEGY over the cliff in the first place. But it's asking a lot for tigers to change their stripes. I think the only way to strike a deal that salvages the properties in a way that is in the interest of existing shareholders and damaged shareholders is to apply the force of legal threats against them, lawsuits that go after their personal assets. These people are hardened shysters. What else would they understand? They screwed you, now screw them.
The merger of two pot stocks was bound to attract the unwanted scrutiny of the regulators at war with MMJ, and I said as much. I knew that kind of scrutiny would make regulators shake their heads; it factored as one of the reasons I sold most of my position. When other dominos fell for reasons that clearly applied to SKTO, it was like waitiing for hangman. The conceit of the two firms blinded them to the realities.
The immmediate problem for the village idiots and/or charlatans who have been running SKTO and AEGY is to overcome charges of fraud or other serious charges. Your extraordinary DD in uncovering apparently phony collectives set up by IEquity raised the fraud alert from Orange to Red. One could see fraud written all over those $30 million in contracts (with themselves) announced in March 2013 that were of course never collected, and started their game rolling with 10,000%+ gains in two weeks. SKTO and AEGY are not separable in terms of controlling shareholder IEquity Corp. That likely why the SEC went for the twofer.
Salvaging something of value for shareholders (with realized and unrealized losses) will be difficult but not impossible.
The merger of two pot stocks was bound to attract the unwanted scrutiny of the regulators at war with MMJ, and I said as much. I knew that kind of scrutiny would make regulators shake their heads; it factored as one of the reasons I sold most of my position. When other dominos fell for reasons that clearly applied to SKTO, it was like waitiing for hangman. The conceit of the two firms blinded them to the realities.
The immmediate problem for the village idiots and/or charlatans who have been running SKTO and AEGY is to overcome charges of fraud or other serious charges. Your extraordinary DD in uncovering apparently phony collectives set up by IEquity raised the fraud alert from Orange to Red. One could see fraud written all over those $30 million in contracts (with themselves) announced in March 2013 that were of course never collected, and started their game rolling with 10,000%+ gains in two weeks. SKTO and AEGY are not separable in terms of controlling shareholder IEquity Corp. That likely why the SEC went for the twofer.
Salvaging something of value for shareholders (with realized and unrealized losses) will be difficult but not impossible.
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