I have been researching the UK laws on Public Offering Of Shares and they are pretty damn strict. If you offer shares to more than 99 people in the UK or any EU district (35 in the USA), it is considered a Public Offering. This cannot be done by a Private Company, it is illegal under The Companies Act. [...]
This is irrelevant for them. They just wanted customers' money. They promised 30% shares but not with all this official stuff but more like boys in school exchange chewing gum for candy. Secret Brotherhood of Hash. Customers would get an e-mail like: Rest assured you now own 1/3001 of our company. Haven't you noticed how shocked they were that most of the people didn't give a damn about offered deal?
Anyway we're getting older and still there is no info about actual product. They have just enclosed some BS that they won't say a thing. Why?
Because their partners made them to sign a non-disclosure agreement that they won't tell anyone about the co-operation (sic!). Also, by publication, they could loose the "competitive edge over their competitors". Megalomaniacs!