A word comes to mind.....rhymes with hooks or books.
They use opm to get rich, never creating anything of value.
Vale now out as well. This is another John Proust company failed, in a long line of them. Yet, he manages to increase his wealth consistently and one has to wonder what if anything he has produced to gain this wealth. Very little, as been taken from others by way of a repeat if necessry strategy.
Idenitify some project you cam hype, get opm , charge huge fees to run essentially nothing of value, get as much as you can, dolute, dilute, and once the firm dead because you cannot raise further money, simply pop out th next " value project". Repeat if necessary, and this guy sure did....over and over and over....
shareholders get upset? Well, simply put one of them on the board, and that will keep them quiet.....lol.
Indeed, this guy is just another hustler. No respect whatsoever for people who operate like this. Should be illegal.
If anyone can name one successful project from this guy in the last ten years, well....go for it. Yet, his personal wealth has no suffered much. But a lot of his " valued shareholders" have lost their money.
Clearly, the market must now grasp reality of the inability of this team to create anything but hot air?