This cant really be true, Can it? The papers could have been filed by someone trying to defame the WT. I know they are not as clean as they want us to belive, but this is just to much.
The Watchtowers Investments in Warfare Technology
by l3gi0n 19 Replies latest watchtower scandals
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Gerard
The primary mission of the SEC is to protect investors and maintain the integrity of the securities markets. To achieve this, the SEC requires public companies to disclose meaningful financial and other information to the public. The SEC also oversees other key participants in the securities world, including stock exchanges, broker-dealers, investment advisors, mutual funds, and public utility holding companies. The SEC is concerned primarily with promoting disclosure of important information, enforcing the securities laws, and protecting investors who interact with these various organizations and individuals. Crucial to the SEC's effectiveness is its enforcement authority.
SEC filings are oficial and legal documents. Ignorance of their shares possession can not be an excuse because, as a chief share-holder, the WT Society has received no less than 52 SEC filing copies plus -at least- 60 official news releases by REGI updating them on their company’s progress. And this is in addition to the thousands of financial reports, memos and other internal correspondence required to operate such corporations for more than 16 years.
Ask yourself: why would the owners want to share their profits with the WT when it "does not want to be their partner"? The WT's defense makes no sense.
Notice the parallel with their UN membership as NGO and subsequent denials.
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Nathan Natas
Slap yourself, Legion.
Time to wake up!
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SwordOfJah
This information is odd to me. I was thinking that if someone donated shares of a company to me, I would immediately sell these shares to get the actual value of these. If the Watchtower actually owned these shares, wouldn't they just sell these off to use the money? Why keep shares of a company, these wouldn't be of any use, specially in the preaching work?
I do trade a few stocks here and there, but I don't really know how this "donation of shares" works. Has this been explored?
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l3gi0n
I am Awake!, It’s just hard to believe. I stopped going to meeting a year ago, and have had serious doubts since I was about 15 years old.( I am almost 30 now) Infact I never was baptized. I have always assumed I was wrong, and that I had a bad heart This hard to believe. It is just too much. The problem is that it really challenges every thing I believe in.
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Gerard
Hello SOJ,
That is correct. If I was a GB member and was given shares of a corporation aligning the US Department of Defense for engine contracts, I'd sell those shares (out of principle) and keep the profit. Problem is, they kept these shares for 16 years, and only after some brothers questioned the charges, the WTBTS replied: (see the letter)
"The Watch Tower Society was erroneously listed as a stockholder in information published by the holding company. And this error has now been corrected." >>>> WTBTS
Again, why would the holding company want to share their profits with the WT if it is not even their partner? (In fact, legal SEC filings reveal it has been for 16 years.)
Why keep shares of a company, these wouldn't be of any use, specially in the preaching work? >>> SOJ
Profit:
REGI’s first press release dated May 11, 1994 opens up with enthusiasm to have a product with which they can tap into an annual $20 Billion market and plans to align the U.S. Department of Defense as their first customer:
- "Reg Technologies, Inc. entered into a consortium agreement with Hercules Aerospace Company (a Fortune 500 Company) to further develop the diesel version of the Rand Cam™ Engine in concert with the West Virginia University team. The diesel engine will be developed for military and commercial applications. The annual market potential for the diesel engine market in North America is $20 Billion U.S.. Reg Technologies, Inc. plans to license Hercules, Inc. for Department of Defense applications in consideration for the development and commercialization of the Rand Cam™ Diesel Engine, and other benefits to Reg Technologies, Inc.
The management of Reg Technologies, Inc. is confident that the ensuing year will result in a successful working model of the Rand Cam™ Engine that will produce significant revenue from license agreements. The Wankel Rotary Engine generated $200,000,000.00 from license rights in the 1960's."
I believe there are many honest & spiritual brothers in the Organization, but the WTBTS kept those shares for 16 years and they have still not sold those shares, even after the issue was made public and they assured you back in Nov 11th 2002 that "it has now been corrected."
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SwordOfJah
Thanks Gerard for that info. I'm going to have to write to the Society asking why they haven't sold those shares if they own them. Honestly, holding on to shares for 16 years doesn't make any sense because they could have gone up or down. If they would have gone down, then the donation would have been lost. So I would have sold them right away and taken the profit. I'll write specifically to a bethelite that would know about this.
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rocketman
SOJ, we'll all be curious to know their answer!
rocketman of the stating the obvious class.
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Gerard
You are welcome SOJ. Please share their response with me (or us) and If their actions are indeed proven to be free of guilt, I will retract all my criticisms on this issue and delete my incriminating web pages.
http://www.geocities.com/wtgreed/article.htm
Gerard
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gcc2k
Gerard, is there any proof that the Society is still a shareholder in REGI or any of its companies?
I checked the SEC's Edgar database, but only found REGI US (which curiously is having financial problems and borrowing money from REGI, who owns 45% of the company). REGI US does not seem to list the WT in any current filings, but I also did not see any other shareholders mentioned.
