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We learned that a complaint has been filed with the SEC about Geni not having money to pay bills and giving inside information that they are “desperately looking for financing“.
A European investor relations firm organised a roadshow for Geni last October. El-Batrawi, the CEO, rented a jet for this occasion and took his girlfriend, Canadian TV starlet Laura Harring on the trip, together with Michael Fugler, director , and his personal assistant and fiancé, Claire Ledig.
In London El-Batrawi met with the Saudi arms dealer and Geni-investor Adnan Kashoggi (who had spent some time in prison in Switzerland and the US )..
After many reminders,delays and lies by El-Batrawi and his CFO Doug Jacobson, not quite half of the outstanding roadshow costs was paid in February, the remainder has still not been paid “ as they are still desparately looking for money…”
Conclusion: the management of the company is and has been misleading its shareholders, is dealing with questionable people and is lying, i.e.Geni shares are probably manipulated and certainly overvalued.
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