Quote from local paper:
New Orleans attorney and actor Michael Arata and his two partners in the multimillion-dollar renovation of a Marigny mansion were convicted by a jury Monday for defrauding a state tax credit program of $1.1 million.
Hollywood executive Peter Hoffman, his wife Susan and Arata were found guilty of conspiracy to wire fraud in connection with the rehab of a 155-year-old mansion at 807 Esplanade Avenue that they turned into a film post-production studio.
Peter Hoffman also was convicted on 21 counts of mail and wire fraud related to the deal.
Arata, who is married to New Orleans Deputy Mayor Emily Arata, was convicted on seven counts of wire fraud and four counts of making false statements to FBI agents about his involvement in the project.
Susan Hoffman was acquitted on all but the conspiracy charge and a single count of mail fraud.
Peter Hoffman faces a maximum sentence of 405 years in prison, prosecutors said. Arata and Susan Hoffman face maximum sentences of 185 years and 45 years, respectively. Maximum sentences, however, are rare for first-time offenders.
That with the current volume of 42,390,000. Adjust that volume for the most recent RS, 1 for 100 and the share volume skyrockets to 4,239,000,000, had no RS been declared. If the buyer was a short whale, and I do mean WHALE, the short position is now zero. The .0002 share price is also a 75% loser to where the CEO attributed his stewardship to include boosting shareholder value. Closing bell in 30 minutes. 10,549,800 size ask .003
The employees, management and CEO are not buying shares in the open market. All of $40 worth of shares changed hands today and at a price of half of where it was when the new CEO took over. So much for his claim to increase shareholder value. Even the CEO doesn't want to buy shares at a 50% discount.
The end of the day, zero VOLUME. Not a single exec working for this company would buy off the ask (.0004).
1 million shares, all of $400 and not one of those disgusting people working there can part with $400. And the point here is the day the new CEO stepped in and talking about increasing shareholder value, that day a close of .0008. So it's 50% lower and the #@$#@% ing Bas%&%&s aren't buying this trash. NOT EVEN NOW!
Yesterday a close of .0003 and volume for the day 250 shares. Anyone think that the criminal management is buying this garbage? It's down more than 50% at .0003 from when the new CEO stepped in. He had a PR stating increasing shareholder value. What a lie.
The new CEO, Mr. Bjorklund stated, "For the balance of 2014, we continue to execute on our expanded business plan and growth strategies aimed at building a stronger organization with more revenue diversification. One of our primary goals continues to be to increase shareholder value." --- down 75% since and none of the new executives are buying shares of this garbage.