RE: U want some answers,I got 2 Hi Acelove, let me give you the answer regarding Socius and the 15$MM investment.
That PP (Private Placement [which means that they got their value in shares and it was not a loan to be repaid]) was arranged by Terren and it specifically stated that the money must be invested on the China expansion.
Yes, Poynt expanded into China and a private individual who arranged the deal with the CYL (I may be wrong but I think that individual was Terren himself) received a commission of 2.5$MM (or thereabout). I am not going to fc uking research the exact amount of the commission. So in a way the wheels were greased for the CYL deal. Minus that money from the original loan and that leaves 12.5$MM.
As much as I dislike AO I think that he honored his deal with Socius. The money was spent where it was meant to be spent.
The real problem is who the fc uk suggested the deal with Rick Ware Racing. I was told by another poster that the Chinese love to watch NASCAR and that was the reason. I thought that explanation was a load of BS because another person told me that the Chinese love to look at Pu ssy. I am not being light hearted here but I understand that China is a patriarchal society.
So Mr Acelove, forget the Socius bit. I have a different theory and will not post it because I don't have time to deal with a legal action and do not want to expose myself to the Lance Armstrong syndrome.
I have better things to do with my life and I have regained about 55% of my Poynt losses through another investment, namely Mint Corporation (MIT.V)