Because there are a million ways they could scam us and that is by far the least profitable way to do it.
The most obvious way to scam us would simply be to sell hardware out the back door and not include that income as company revenues.
You are assuming that they actually have the hardware, and to this point there is no evidence that there is. But they will be on CNN soon! More shady by the day...
Sure, but if there was no hardware, then what difference does it make if they can sell their shares? They can just run off with all the money from the IPO.
Or, they could take the IPO money, use that to buy shares on the open market, manipulate the price by by timing information releases, and make a huge profit without selling a single 'supposed to be locked' share.
You see the point here? If Labcoin is a huge scam then
there is no need at all to bother selling the shares that are supposed to be locked.
So, look at the two possibilities:
1: the chip is real and labcoin wants to scam us. In that case, they could simply sell hardware out the back door, with no need to sell personal shares.
2: There's no chip whatsoever, in that case they could re-buy shares with the IPO money, manipulate the price with info releases and make a huge profit that way. Again, no need to sell 'locked' shares.
Now, they've said they won't sell more then 25% of the personal shares.
If they are lying scammers, who would lie about selling personal shares, then locking the shares won't prevent them from stealing all our moneyOn the other hand, if they are honest we have nothing to worry about.
That's why people aren't sweating this share locking thing - if you don't feel comfortable with these people you shouldn't be investing your money with them (Unless you're running the numbers and estimating the probability they'll rip you off and figuring that into the share price, as I outlined above)
