My Billion Dollar Fight Against Naked Short Selling
It’s been an eventful week. On Monday I had a conversation with John Brda, the ex-CEO of Torchlight, where he shared his story of fighting naked short sellers and taking his company’s share price from $0.30 to $11.00 raising $183 million and merging with Meta at a $1.9 billion market cap. All in six months!
It’s been an eventful week. On Monday I had a conversation with John Brda, the ex-CEO of Torchlight, where he shared his story of fighting naked short sellers and taking his company’s share price from $0.30 to $11.00 raising $183 million and merging with Meta at a $1.9 billion market cap. All in six months!
This story gave us inspiration and the right information to formulate our own battle plan. I’ve shared the conversation we had on YouTube and you can watch it here:
The next day, I got a chance to share my determination to take this fight to the criminals on Wall Street on Charles V Payne’s show on Fox Business.
Then on Wednesday we voted for a series of actions at our Board Meeting, after advice from John and a number of CEOs I spoke to that are also a part of this fight.
Here’s the actions we’re taking:
Action 1
We set up Illegal Trading Task Force led by Timothy Murphy, , Genius Group Director & Former Deputy Director of the FBI. The Company has already been in communication with government regulatory authorities and is sharing information with these authorities to assist them.
Action 2
We are advancing to the next stage of the legal process with Wes Christian (Warshaw Burstein, LLP & Christian Levine Law Group), and taking legal action against anyone believed to be involved in any type of market manipulation relating to the Company’s shares.
Action 3
We are issuing a special dividend to all shareholders, to expose naked short sellers. Details on the special dividend coming soon.
Action 4
The Board is now exploring dual listing options so in the future, market manipulation by illegal naked short selling becomes more difficult as they will also be fighting arbitrage traders.
Action 5
We are calling for an EGM to vote on the special dividend and increase Board toolbox to fight back in real time, including share buyback, reverse splits, potential company spin offs and adding shareholder benefits.
Read the full article here: https://app.geniusu.com/articles/3883381
About the Creator
CEOBLOC
We are a bloc of public CEOs, executives, and shareholders committed to putting an end to naked short-selling and other abusive trading practices.
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