Empty Shells
Stalin hanged Nikolai Bukharin after a 1938 show trial for offering the best economic advice Bukharin could for the country. 2400 years earlier Socrates opted for a good meal after his conviction. The history of show trials are outcomes cast in advance by directors of dubious motive leaving little to the imagination. What if the glove had fit?
Mr Joshua Silverman, Iroquois funds, Intracoastal Capital, Hudson Bay Capital, and Alpha Capital Anstalt specialize in microcap securities, those with a market capitalization of less than $50 million not worth scrutiny of credentialled MBA's practiced at opining on mirages.
Their conduct earned them a subpoena from the SEC in September of 2016 naming Alpha, Hudson Bay, Iroquois, Mr Silverman, and Mr Barry Honig among others. The company involved then was MGT Capital Investments and a Mr McAfee, yes that Mr McAfee.
In microcap land unsavory capital subverts legal frameworks to camouflage boards of directors controlled by shareholders. Public money is raised on the promise of a product never intended. The monies finance legal plumbing that through reverse mergers legitimate the money stolen with the blessing of the SEC. A legal laundry. Akers Biosciences through the Cystron shell company reunited the MGT band.
The actors at Akers Biosciences and MyMd conjured a 650-page laundromat in an SEC filing to slink off into a Florida night through a reverse merger with $25 million raised for the promise of a Covid 19 Vaccine that cost 50 mice their lives in 2020 and not much else.
Akers promised to merge a no product, $0 revenue, $190 million accumulated losses company with MyMd a no product, $0 revenue, $50 million accumulated losses company on terms that Gemini financial advisors opined would be the same for companies with products and revenue in similar businesses that Gemini believed would be worth at least $300 million. The condition was that the $25 million Akers raised from the public to pursue a Covid 19 vaccine that killed the mice would remain on the balance sheet to avoid having the merged entity delisted by NASDAQ.
That Akers and MyMd have no products, customers, or the prospect of products or customers was of little concern to Gemini which was paid $100,000 for its opinion. The cotillion is scheduled for April 2021. Akers shareholders are being asked to take 20% of the merged company, give the MyMd shareholders 80%, and lend $3 million to MyMd for the lights to be kept on until the dance.
The 650 pages campaign for Akers management not be held accountable for incompetence. The cost of the campaign was more than $2,000 a page prepared by the law firm Haynes and Boone and provided a timeline of the actor’s deliberations. Haynes wanted the story in the record in anticipatory remediation for malpractice suits that would examine the skeletons, the closets, and whatever else might lurk in a way that the late Peter Falk would appreciate. Haynes seemed confident that the actors would be sued with the only question being by whom and for how much.
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