Michael, in that streetsweeper article the author noted and also linked to a post on my forum about how IB was working smoke and mirrors accounting to show earnings when they have been losing money all along like I have been telling everyone, they did this by not paying for the websites they acquired.
Brisco loves to use other people as his own personal stepping stones, he sold out or was forced to sell out by Bill Gross owner of IdeaLab who holds 64% of the shareholder voting power and 19% of the shares.
Why did Gross force a sale ?
Because IB was heading toward bankruptcy and the stock was crashing two days before the buyout announcement and was heading toward pennies, not dollars.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=inet&sid=0&o_symb=inet&x=32&y=21
Look at the above linked stock chart, it tells the story.
So does this article linked below, it once again exposes the smoke and mirrors tactics used by IB management to deceive investors, looks like the SEC will be looking into this soon, they may be conducting an investigation right now.
http://www.homethinking.com/brontemedia/2010/09/13/internet-brands/
If anyone wants to lodge a complaint against Internet Brands, Inc. regarding their investment in the stock you can use this SEC form:
https://denebleo.sec.gov/tcr/add.action?c=12http://sec.gov/complaint.shtml
The silence on the part of Mr. Brisco in regard to these allegations is amazing.
PS: He reads my forum all the time.
