They lie all the time but usually do not break the law...Even if they did, these penny stock scams are too small to warrant SEC attention..Truth is, they rely on suckers to keep them going until the scammers unload and the company folds...And they move on to the next one..A little investor intelligence would help..Let's see, this guy has run ten businesses..all folded after several years..None had any revenue, etc,etc...