1 dollar party, page-21

Perhaps AFR are right for the wrong reasons.

They started investigating because of the run up in share price and all the shares issued for services rendered. They approached the story with the pre-determined mindset that there was something dodgy going on and as they have alluded to in their articles, a ponzi scheme.

Now that the company has responded and we have more details albeit as confusing and detailed as a Quentin Tarantino movie. We have two scenarios; either the company has set in motion one of the smartest business plans I have ever seen or the AFR have done some digging and uncovered a scam.

When I weigh up the probabilities of both scenarios I am leaning more toward the first one especially when I look at the people involved. Hugh Massie, a behavioral finance expert. Who else could come up with such a smart plan to grow customer numbers? Then David Steinberg doesn't just partner up with his company Zeta Global, he takes an active position in the advisory board and forms what looks to be a similar finance agreement in the US.

So do I think the AFR are right? Yes, they found out that the company breached disclosure rules when issuing shares. They were right but for the wrong reasons. I don't believe this is a scam. I'll leave you to make your own decision based on the details available. There's no point arguing as it's not our call to make and we will know the outcome soon enough I am sure. I am comfortable with my position.