Apparently Lyford was knowingly breaking the law when he sold Banx Shares in C-CEX. It wasn't any unfortunate business mistake. In this video (recorded 18th July 2014) he tells his investors that public selling is not permitted.
Practicly, what does that actually mean, it means we can't go online and offer shares to the public. But we can raise as much private investment as possible.
Shares were sold on C-CEX from October to November in 2014. It was Lyford who did it, chatlogs prove it.
@marklyford, do you want to comment this? Did you broke the law when you sold shares in C-CEX?