Current Status and Update - Left Behind Games
To shareholders of Left Behind Games, my recommendation is to check back here every few months - I will update this page as we progress.
After raising millions and taking the company public in 2006, I found myself in a situation where government policies and neglect resulted in our stock being naked-shorted regularly by ruthless market-makers. Over a period of years, our stock price dropped from $7.44 down to $0.0001 per share. That's right - one/one-hundredth of a penny per share. Despite all this, in 2011, we released seven (7) high-quality PC games, making us the most prolific developer of faith-based interactive entertainment.
In late 2011, we then filed a $10,000,000 financing deal with the Securities and Exchange Commission ("SEC") after it was already signed by a properly licensed and qualified equity bank. All that was necessary to receive the funds was for us and FINRA to process some paperwork. Then, the wire transfer would have been sent. But the SEC, without providing any reason, interfered in the financing which resulted in the company’s, then immediate, closure of our offices and discontinuation of its most significant operations.
Two years later, in 2013, the SEC sought to delist the company from the public exchange, as it could no longer afford a PCAOB licensed firm to keep financials current. Shortly thereafter, the SEC filed a lawsuit against me personally in “civil” (not-criminal) court. The SEC was aware that some or all of their allegations were unsubstantiated, as I have since learned and discovered evidence. Accordingly, the US Attorney’s office never sought to file charges. But the damage to the company had already been done. And because the government sued me in “civil” court, they were not required, as the law is currently interpreted, to provide me a paid defense. They used this as leverage and enticed me to sign a settlement agreement which specifically stated that no admission of guilt would be required. So of course, my expectation was to resign from the company, and then protect my life-savings, and the investments made by our investors, by empowering new leadership to take over and move on successfully.
However, the SEC, after I had approved the agreement, then violated our settlement by going back into court, in 2014, with a financial claim that had no support from the company’s auditors - the experts licensed by the Public Company Accounting Oversight Board. Instead, the SEC used an unqualified staff accountant to fabricate a financial claim that completely disregarded the auditor's testimony and financials. By doing this, they intentionally misled the court by seeking ill-gotten gains that never existed. This is an absolute and definite fact - and it is now supported by the court record. The reason the SEC overcame my arguments to the court was because they had hidden the real financials, and further, they were hiding the recorded testimony of the licensed auditors. The SEC also denied my right and numerous Motions for “discovery”, which would have exposed their fraud.
The district and appellate court, as recently as early 2018, have since given the SEC a blank check for millions without provided me an opportunity to cross-examine the SEC’s staff accountant and without regard to the auditor’s testimony and company’s actual QuickBooks Enterprise "audited" accounting files. As evidence for anyone interested, I've posted 10 years of the company's audited financials online in the public domain at www.leftbehindgames.com/quickbooks.
I've also filed a Federal Tort Claim with the SEC, which is now also in the public domain at www.leftbehindgames.com/sec_files/FTCA2017.pdf.
It will likely take years for me to exhaust all legal options, but I’m confident to overcome. It is currently my intent to revive the company after all this passes. I've already begun development of the first “Left Behind” branded games for iOS and Android platforms and look forward to a bright future, albeit unreasonably delayed.
As a result of government regulations and the SEC's litigation efforts, in just the past 20 years, America has lost more than 47% of it's public companies (source: World Federation of Exchanges).
Perhaps compared with others, I have it a little easier than others targeted by regulators. I'm a former Inc. Magazine "Entrepreneur of the Year" award recipient, and my lifetime of successes has occured in work with many people. Read what others have had to say on my Testimonials Page.
In summary, my faith is not in men, the courts or this world. My faith is in God Almighty, who through Jesus Christ, offers eternal salvation to all who freely accept Jesus' sacrifice on the cross for our sins and acknowledge that after his death, he rose again to life. To learn more about Jesus, go to: www.dontbeleftbehind.com/pages/knowing-god.html.
To all who have supported and encouraged me, thank you.
Very truly yours,
Business Coach & Video Game Developer
Former Chairman & CEO of Left Behind Games Inc.