Company With “No Employees, Office Space, Customers, or Products” was Bad Investment.

Hold on tight

During the boom, investors routinely bought shares of companies with no business experience, assets, or revenue. But how about a company with no employees, office space, customers or products? Sound like a tough sale? Would it help if I told you it was a “green energy” company? It turns out that this company, Green Energy Live, Inc., was a very bad investment. And this is why its promoter, Nicholas Louis Geranio, finds himself being financially regulated. Faced with an SEC fraud complaint, Mr. Geranio now appears to be settling with the SEC, with no admission of wrongdoing. More on this below. [Read more…]

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