John E Deaton
John E Deaton|Jul 04, 2025 23:13
GREAT QUESTION REGARDING @linqtoinc: I can’t speak for Dan, nor would I try. We’ll learn all the relevant facts soon. Without being privy to Linqto financials and the precise nature and stage of the SEC investigation/inquiry, I can say, objectively speaking, a company might choose to file for reorganization under Chapter 11 Bankruptcy for strategic reasons. As we all know, the @SECGov can drag its feet for a very long time during an investigation and then again Court. We saw how it played out in the @LBRYcom situation. LBRY’s CEO spent a couple million during an SEC investigation (depositions, discovery, lawyer fees) and then another couple million defending in Court, after an enforcement action was filed. It literally bankrupted @LBRYcom. A company under SEC investigation, combined with NO REVENUE coming in. might choose to file for bankruptcy in order to force the SEC’s hand. If the SEC is going to claim Linqto owes fines and civil penalties, it will have to comply with bankruptcy court deadlines, just like any other creditor or claimant. Now, I’m not saying that that is the reason Linqto is filing for bankruptcy. I’m simply answering this question, which is a very valid one. But we do know FOR SURE that the SEC is involved. Dan, the current CEO, and Bill, the founder of Linqto and former CEO, have BOTH stated that the SEC is in fact involved. They disagree, however, on how serious or threatening the SEC’s investigation/inquiry actually is. Bill Sarris, as well as some Linqto customers (and previous board members), have argued that the regulatory issues are being overblown by Dan, the current CEO. Dan, and his team, suggests that Linqto, under Bill Sarris, violated 3 out of the 4 securities acts, engaged in fraudulent marketing and advertising, including price manipulation and gouging, and other bad acts. The @WSJ has stated that @DOJCrimDiv is involved. If true, handcuffs are in play. The good news is that we will all find out VERY SOON who the bad guy is. The ONLY good guys involved in this clusterfuck are the innocent investors, trying to improve their lives. I can assure you, I will be both active and vigilant as we move forward.
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