Here is what will make any litigation by sharehold
Post# of 36729
Posted On: 07/09/2014 11:30:28 AM
Here is what will make any litigation by shareholders awfully difficult to win, and extremely costly in the process.
At no time were shareholders unable to do some fact-checking of their own as to the information publicly available. The company put out several financial statements and explanations, all of which were available to be dissected, fact-checked. The very people who have been attacked on this and other forums were busy doing just that...fact-checking. And the facts didn't check out. Nobody could locate Sovereign International Inc., other than a filing with the CA SOS that could be done for any company with a fee. The financials were a mess, and it was clear that several of the same financial statements within the same filing were not matching up. This was repeatedly pointed out on the forums, and met with vicious backlash. The completion of any of the acquisitions and mergers that most affected SKTO, had one read the filings and done so carefully, had not been attained, as shares were not actually transferred through the proper parties. Again it was information that was there, but it was a conscious decision by shareholders to ignore that information. Ultimately, it was all of that information that the SEC used to come to the conclusion that both stocks needed to be suspended. It was all of that information that has every MM avoiding completion of the form to re-activate as a MM for SKTO/AEGY. It was all of that information which brought SKTO to where it is today.
Ultimately, SKTO will die a slow death. The SEC will move forward after Jan, Hipple, Benz, Mayor, Allyn, Choo, Loughlin, possibly Jones, Hoye, and any other person/group it feels was responsible for unlawful activities related to the two companies.
For shareholders it was always "caveat emptor." If in the end you get something back, be glad. But it will take time and money to get there. And in the end, the lawyers end up with most of the money. They always do.
IMO
At no time were shareholders unable to do some fact-checking of their own as to the information publicly available. The company put out several financial statements and explanations, all of which were available to be dissected, fact-checked. The very people who have been attacked on this and other forums were busy doing just that...fact-checking. And the facts didn't check out. Nobody could locate Sovereign International Inc., other than a filing with the CA SOS that could be done for any company with a fee. The financials were a mess, and it was clear that several of the same financial statements within the same filing were not matching up. This was repeatedly pointed out on the forums, and met with vicious backlash. The completion of any of the acquisitions and mergers that most affected SKTO, had one read the filings and done so carefully, had not been attained, as shares were not actually transferred through the proper parties. Again it was information that was there, but it was a conscious decision by shareholders to ignore that information. Ultimately, it was all of that information that the SEC used to come to the conclusion that both stocks needed to be suspended. It was all of that information that has every MM avoiding completion of the form to re-activate as a MM for SKTO/AEGY. It was all of that information which brought SKTO to where it is today.
Ultimately, SKTO will die a slow death. The SEC will move forward after Jan, Hipple, Benz, Mayor, Allyn, Choo, Loughlin, possibly Jones, Hoye, and any other person/group it feels was responsible for unlawful activities related to the two companies.
For shareholders it was always "caveat emptor." If in the end you get something back, be glad. But it will take time and money to get there. And in the end, the lawyers end up with most of the money. They always do.
IMO
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