The IRS form 990 analysis also reveals the unambiguous focus of Michael Arlen Davis' charitable grant making activities -- 1. related MAD/RSF investment group nonprofit entities, and 2. Mrs Davis' documentary film company which happens to also be structured as a nonprofit private foundation.
MAD/RSF investment activities around Cyanotech and Filigreen Farm are not separate projects but carefully planned and related efforts by Davis and his RSF partners.
Davis/RSF created Skywords, Ginungagap and Yggdrasil in the early 2000s for strategic and collaborative purposes. It is no coincidence that the partnership’s activities accelerated due to Michael Davis’ sudden vast inheritance, due to the premature death of his father Leonard Davis, the controversial AARP founder whose name appears to have been "scrubbed from official company histories.
The acquisition of assets by the Davis/RSF partnership began in the early 2000s. RSF/Yggdrasil acquired the first portion of Filigreen Farm in 2000, and Davis acquired his initial equity shares in Cyanotech in 2002. Davis became a board member of Cyanotech the next year, created Ginungagap and began financing the development of Filigreen Farm. In 2010/2011, when the prospects of Cyanotech improved due to to the launch and success of a new product offering, the partnership’s interest shifted to Cyanotech.
As shown in the table at the bottom of this article, Ginungagap is the non-profit shell company through which Davis has funded his development of Filigreen Farm into a world-class organic wine vineyard. As you look at the Davis grant money numbers in the table below, recall that Cyanotech’s prior board chairman Gregg Robertson was pushed out in October 2010, clearing the way for MAD to formally claim the title in May 2011, and assume a veneer of accomplishment he appears to covet dearly.
The table also confirms the unusual size and nature of Chairman Davis' and his RSF partners' sudden and sharp increase in coordinated trading activities around publicly traded Cyanotech common stock during the 2010 - 2011 period.
Historic Davis and RSF IRS 990 filings confirm that Davis granted RSF a stunning $5.2 Million worth of charitable cash and stock during 2010-2011 which was used to fund Davis' rapid and non-disclosed (e.g. “secret”) accumulation of Cyanotech shares into the strategic 33% blocking position that firmly entrenches Mr Davis as Cyanotech’s board chairman today.
No disclosure was made by Davis, RSF, or Cyanotech's board, to the SEC/shareholdersof the close investment partnership relationship that has existed between Davis and RSF since no later than 2001.
Indeed, Davis’ practice of filing on the wrong Section 15 reporting schedule to the SEC (e.g. filing on Schedule 13G and not the correct Schedule 13D) and his practice of filing late and incorrect statements, was instrumental in concealing that relationship. Until March 2017, RSF fulfilled its role in the partnership - holding assets directed to it and purporting to be an independent actor with charitable intent.
Read More: Michael Arlen Davis' Altruism appears Mostly to Himself
Read More: The Davis/RSF Operating Model
Read More: The Davis Web of Nonprofit Foundations