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I got an update from our legal counsel on this, apparently the hearings with Cleone Couch and the ASC are done and we should hear something shortly.

If they find that she violated the securities act then we have to wait to hear how much the fines will be against her. Larger fines of course mean lower chance that I'll get anything out of it.

Once that's done, the ASC's stuff is public record so we can then decide to pursue a lawsuit or not. But the likelihood that we'd be able to collect anything even if there was a judgment is probably zero.

Mostly because the money is gone, the speculation of what was done was that they would get investors and raise $1 million (not a real amount, just for arguments sake), spend $600,000 on an actual property, then spend $400,000 on advertising for the next round of investors.. raise $1 million, spend $500,000 on an actual property, and spend $500,000 on the previous property's expenses and the next property's advertising, etc etc.

I think that's called mixing, when the $ is supposed to be kept separate.. so while what was advertised for a property was $1 million raised, $500,000 for acquisition and $500,000 for development and sale costs and stuff, that wasn't actually happening, the money was being shuffled around to other things, other properties, expenses, etc.