The court has been adjourned until Thursday 3rd November at 9.00am.
Below is Charles reply - a verbal two-fingers to the SEC and the judge.
It's probably not the best idea to insult the people who have the power to throw away the key to your cell door Charles,...but great entertainment none the less.
'The SEC sure wasted a lot of time today, and there was several hours of testimony that actually never really focused on the meat of the case. What we discovered today... is the SEC star attorney Daniel Wadley has no clue what Traffic Monsoon actually is, and actually want to try to pull a fast one by the Honorable Judge Jill Parrish. Daniel Wadley wants the judge to believe that a ponzi is paying people from sales.
The SEC's Daniel Wadley twisting of definitions, twisting of details, twisting of facts, and actually ignoring what was written on the website. Their star witness, Peggy Hunt, claimed she didn't know almost anything about what was written on the website and got so many facts and figures wrong-- the SEC had to correct her multiple times on her own testimony.
Ponzi = Gaining investors to pay earlier investors .. in order to satisfy a debt. That's the key. The key of a ponzi is when Person A is owed $5 (example) and the company doesn't have the $5. The only way to pay Person A the $5 the company owes them is to collect it from Person B -- and they gain that money by promising them returns on their money. Which then they owe them returns too, and they have to gain more money to pay the money they have told Person B they have earned *already* but the money doesn't actually exist.. so to pay the money they have told Person B they have earned is by getting Person C to invest by offering a high interest rate which they actually can't afford to pay..
If you're paying people using money already received in sales of service, and rewarding people from that money when they click on ads.. it's not a ponzi. How stupid does the SEC think the judge is trying to pass that definition by her using a witness such as Peggy Hunt who can't even remember anything, has no idea that 728x90 banners cost *minimum* $100 - but with an adpack the buyer can get them for $50, and there's a difference in country targeting with the services being offered.
The SEC wasted a lot of time to drag this on, and very little was even discussed relating to whether Traffic Monsoon was actually a ponzi or even an investment. Other than this statement about this defintion of Ponzi briefly mentioned, the rest of the day was nearly pointless. We're in recess until Thursday at 9:00am.
I can't believe how much time the SEC wasted today. It does appear they are trying to twist and pass half truths as reality. Peggy once again said she didn't know what EVP international is, even though screenshot was plainly provided to her, and she could have setup a payza account for herself and selected "add funds by wire transfer" and found the instructions to add funds to payza are to send funds to EVP international. Until she can verify this single fact, she is unwilling to provide me money for food. But the facts have already been provided to her. When asked if she knows what EVP international is (while she was looking at that screenshot) she said she doesn't know. Unbelievable. The twisting of truth and lying going on is truly evil and has crossed the line.
The SEC truly doesn't care about the people's live's they are impacting by making this case drag on and on. That much is clear. They are more interested in their careers, people they have associations with, and looking good in front of their friends, than the fact that people are hurting in their lives wanting to see this come to a quicker resolution. They care more about climbing the corporate ladder, than worrying about protecting people. They truly only care about themselves... so busy with their own lives, Amy Oliver traveling internationally, to be bothered to wrap this case up and get people's lives back on track.'