The thing is that he is claiming he could have changed the fate of the company if he had a controlling interest. If you were doing that, however, you would probably have lawyers and traders on the line. Taking control of a company to manage it's bankruptcy is a tricky process with lots of legal issues to account for I would imagine. You don't do it with an ipad sitting on a lakehouse porch sipping yellowtail wine.
Yeah, completely agreed. That's one of the reasons why I mentioned in an earlier post how Deutsch was behaving as part-investor, part-trader, which is an uneasy mix.
"he is claiming he could have changed the fate of the company." Yes, and that was quite wishful thinking on his part. The company... * filed a chapter 15, which apparently helps shield a company from U.S. lawsuits and creditor claims. * had over $400 MILLION in unsecured debt governed by Cayman Islands law (ya, good luck with getting any of that, lol). * an official in charge of the liquidation said the "money is missing." Deutsch bought the common stock of a piece of turd, so all he would have been left with is, well, the common stock of a piece of turd. http://www.bloomberg.com/news/artic...ical-technologies-files-chapter-15-bankruptcy
The reason he used FFOS was because they played his ego. He liked the ass kissing and the "yacht trips" etc. I guess he was too dumb to realize the yacht trips and fancy wine parties come from his pocket. his ego blinded him to the fact that when a bunch of suits are knocking on your door and hard selling, playing your ego etc.. they are the sharks after your money. They are not your buddies.