Well, it looks like I’ve got a pretty empty blog here, as you can see. I’ve been receiving questions about the missing Making Some Paper blog posts. Why did Michael De Santa delete all his blog posts? The short story is — I’ve been very sick and haven’t been able to keep up with it and the shenanigans of its going ons, so I decided to delete it.
The long story is that I received a threatening email from a supposed lawyer representing an investor in Green Automotive Company (OTCQB:GACR) who lost a significant amount of money investing during the end of the May 2014 pump and dump, the very one I had warned against buying into. The writer supposedly represented a legal firm and claimed to be investigating pump and dump operators, implying my connection or association with the operators, although not outright accusing me. While I didn’t completely believe him, I had fallen very ill at the time and was hospitalized, so as I had other worries on my mind. As an independent investor simply trying to share my thoughts on investing, I do not have the time nor energy to waste defending myself against frivolous lawsuits, so I decided to remove the posts as to avoid further complications. Suffice to say, the pump and dump operation towards the end of May hijacked the trust and investment sentiment of many long shareholders, myself included, and has resulted in a significant shareprice drop, as even Mr. Ian Hobday, CEO of GAC, has admitted in his latest shareholder newsletter:
Our recent share price movement, and in particular the huge daily volume has given cause for concern. It’s clear that a third party has been promoting or “pumping” the stock in order to trade a massive volume and sell out of a large position. Categorically, GAC has not paid any third party to create such circumstances; is not involved in any share promotion activity, and remains focused on creating a great, well founded business, which we believe will deliver strong revenue growth and profits in the future. As major shareholders in the business, the entire management team is committed to building a great company.
The share price has recovered a bit the last few days, but has not recovered completely to the pre-pump and dump range. Now that I’m well, I want to reiterate my position and stand by my convictions:
- GAC is a struggling company with long term potential. I currently own shares, plan to keep my shares, and increase my holdings as more free capital becomes available to add to my holdings.
- As with any small cap company trading on the OTC market, GAC may or may not succeed in delivering on its forward looking statements, but the management team has worked hard to move the company forward and build a great business.
- All investments are risky, so please invest only once you’ve done your own due diligence and financial research and have come to your own educated conclusion that GACR is a good investment. Otherwise, do not invest at all. Consult a professional financial adviser if your knowledge of the matter is insufficient.
- Do not buy in on any pump and dump scheme. Any promises of instant gain or success is a lie and is likely fraudulent.
While I appreciate the comments and views on my blog, please be sure to read my biography and my disclaimer.
NOTE: GAC refers to the company, while GACR refers to the stock.