Dated 10/21/1924.
The company was incorporated in Delaware in 1921.
The company’s founder, Tomadelli,
claimed to have developed a method of producing light without
heat dubbed "bottled sunlight" which he asserted would revolutionize the
lighting industry.
On
February 25, 1924, a New York court issued an order requiring the
corporation to prove its right to sell stock. This followed
investigations into the company's financial practices and the scientific
validity of its claims.
Testimony
revealed significant financial irregularities; for instance, the
secretary of the corporation testified in April 1924 that despite having
$136,000 in stock, the company had only $40 in the bank.
During
injunction hearings, experts expressed profound skepticism regarding
the "bottled sunlight" technology, which ultimately failed to withstand
scientific scrutiny.
Postage based upon shipping within the United States.Please visit my store to view other stock certificates and bonds. I combine shipping.
I leave positive feedback for those who leave positive feedback for me.