Awesome post by Eastern time zone from other board.
After reading the filing against Jeffrey Friedland, here is my take on it.
1. Looks like the SEC has been investigating this for a while and has most likely filed these charges at this time because it has been just over 2 years since the inception of the Agreement "that OWC hired Friedland and Global to handle its media and investor relations in the United States for two years and paid him more than 5.1 million shares of OWC stock for taking on this role".
2. OWC did not hide this relationship and talked about it many times including listing Friedland as an advisor on their website. These shares were listed as being held by Global in the OWC financials. Nothing in the SEC complaint suggest that the SEC is going after OWC.
3. The SEC has obviously built a thorough and solid case against Jeffrey Friedland, his 2 companies, and the Relief Defendants, and has demanded a jury trial.
4. There were 2 letters of opinion that OWC provided to their transfer agent in 2014 and 2016. These were not the years that Jeffrey Friedland committed his alleged illegal activity. That activity occurred starting in February 2017 whereas it was Friedland who provided an opinion letter to broker Spencer Edwards. According to this SEC complaint, OWC is not mentioned as being involved when Friedland set up this new broker account with Spencer Edwards.
5. Investors are of course a victim in this matter, and OWC was a victim here too. The case will be tried, Friedland will probably lose and have to give back the money and assets. OWC can move on from these shenanigans and this drag on the stock.
6. This does tarnish this ticker right now and some people will panic and sell at a loss, but for smart investors, this is the "blood in the streets" moment for OWCP. Jeffrey Friedland was a snake in the grass and has forever ruined his reputation but this doesn't change any of the fundamentals for OWC as a company. They're still growing as a company. Not only am I holding all my shares, I hope to pick up some more cheap shares.
Quote:"the time to buy is when there's blood in the streets." -Baron Rothschild
After reading the filing against Jeffrey Friedland, here is my take on it.
1. Looks like the SEC has been investigating this for a while and has most likely filed these charges at this time because it has been just over 2 years since the inception of the Agreement "that OWC hired Friedland and Global to handle its media and investor relations in the United States for two years and paid him more than 5.1 million shares of OWC stock for taking on this role".
2. OWC did not hide this relationship and talked about it many times including listing Friedland as an advisor on their website. These shares were listed as being held by Global in the OWC financials. Nothing in the SEC complaint suggest that the SEC is going after OWC.
3. The SEC has obviously built a thorough and solid case against Jeffrey Friedland, his 2 companies, and the Relief Defendants, and has demanded a jury trial.
4. There were 2 letters of opinion that OWC provided to their transfer agent in 2014 and 2016. These were not the years that Jeffrey Friedland committed his alleged illegal activity. That activity occurred starting in February 2017 whereas it was Friedland who provided an opinion letter to broker Spencer Edwards. According to this SEC complaint, OWC is not mentioned as being involved when Friedland set up this new broker account with Spencer Edwards.
5. Investors are of course a victim in this matter, and OWC was a victim here too. The case will be tried, Friedland will probably lose and have to give back the money and assets. OWC can move on from these shenanigans and this drag on the stock.
6. This does tarnish this ticker right now and some people will panic and sell at a loss, but for smart investors, this is the "blood in the streets" moment for OWCP. Jeffrey Friedland was a snake in the grass and has forever ruined his reputation but this doesn't change any of the fundamentals for OWC as a company. They're still growing as a company. Not only am I holding all my shares, I hope to pick up some more cheap shares.
Quote:"the time to buy is when there's blood in the streets." -Baron Rothschild
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