Und damit das nicht so weitergeht, habe ich der SEC eine weitere Mail geschickt und das auch auf dem Yahoo-Board kundgetan. Bei Actua (vormals Internet Capital) war damals die Verwässerung noch größer und auch damals habe ich die SEC mit Beschwerden "zugemailt". Sicher war das nicht die Ursache dafür, dass weitere Verwässungen unterblieben, aber es ist nun seit 10 Jahren schon so bei Acuta.
I am sure, that the SEC and Finra will not tolerate such a robbery of the shareholders again - for example I mailed to the SEC
Some days ago I wrote to you about the management of Local Corp:
“About the sleeping of the management by the regulation of debts
The solution is okay at this time, but I can't understand, because the CFO Cragun and the managment waited and waited and waited ........... to close a financing.
If Local Corp had offered for example only 5 million shares in last November, the proceeds were 7.5 milllion. If the CFO Cragun can't explain the waiting, he should be fired - and my estimate must be, that he and the management want to robber the shareholders and I will inform the SEC.
And I can't understand, that the management of Local Corp had not sold some patents, for example some of the 5 pay per call-patents - this were after my estimates the better solution as the now coming solution.
I accept the waiting and waiting and waiting, if the CFO explain, that abusive naked shortselling was not part of his planning.
But I await, that the management sue the abusive naked shortsellers for a compensation.”
On March 9, 2015, the Local Corp entered into a Securities Purchase Agreement relating to the sale and issuance of Senior Convertible Notes, comprising $4.57 million aggregate principal amount of new 8% Senior Convertible Notes maturing in April 2018 and initially convertible at $0.5534 (subject to adjustment), $250,000 of which was invested by certain management and board members, and $4.75 million aggregate principal amount of 10% Partially Liquidating Debentures maturing August 2016, initially convertible at $0.7090 (subject to adjustment).
But after my estimate, it could be, that the management worked together with the owners of this debts (Wolverine Asset Management, Wolvering Holdings, Wolvering Trading Partners Christopher L.Gust, Robert R. Bellick and members of the management of Local Corp).
In the last months before the financing the share-price dropped from $2 to $0.40 and therefore the SEC and Finra should take a look, if Wolverine Asset Management, Wolvering Holdings, Wolvering Trading Partners Christopher L.Gust, Robert R. Bellick and members of the management of Local Corp had direct shorted and/or indirect shorted before the financing had started and during the financing, because both are manipulations.
Date Adj Close*
Mar 2, 2015 0.44
Feb 2, 2015 0.68
Jan 2, 2015 0.78
Dec 1, 2014 1.04
Nov 3, 2014 1.51
Oct 1, 2014 1.76
Sep 2, 2014 2.00