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: https://youtu.be/itJGua3ni-U
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 (Which you can watch here; https://video.foxbusiness.com/v/6318820035112#sp=show-clips)
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.
Taking bold action against this criminal activity is not only something CEOs and Boards should do, its actions I believe they have an obligation to do. After all, public companies need to have an audit committee to seek out and report any internal fraud to protect shareholders, so why do they not have a similar obligation to seek out and report any external fraud?
From what I can see, if you communicate with your shareholders regularly, they will support you. That doesn’t mean just at a quarterly earnings call or via a press release. The Wall Street bandits aren’t waiting for your quarterly call to rob you and your shareholders, and they definitely aren’t sending out press releases.
On Thursday, over 250 million shares in Genius Group traded. A massive multiple to our share float, pointing to even more Wall Street funny business. We’re tracking all trades and we’re going to keep up the fight. After all, the size of this robbery dwarfs FTX or even Bernie Madoff, and it affects many companies and most retail investors.
Only with a level playing field can the value creators win against the value destroyers.