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re: HMBL/FORW - anyone still in and/or buying this dip? Both down 85% from their Feb highs
Posted on 4/20/21 at 9:46 am to zephry801
Posted on 4/20/21 at 9:46 am to zephry801
Selling them doesn’t matter - dilution is dilution. It does at least put to rest Richleau’s absurd argument that they will use them for acquisitions. No- those shares are in the pockets of the founders.
I will also readily admit that I was completely wrong about this management team. I thought they gave away a multi billion dollar company for nothing. I was way off. They gave away nothing for multi billions instead.
I will also readily admit that I was completely wrong about this management team. I thought they gave away a multi billion dollar company for nothing. I was way off. They gave away nothing for multi billions instead.
This post was edited on 4/20/21 at 9:57 am
2
Posted on 4/20/21 at 9:49 am to slackster
quote:
I will also readily admit that I was completely wrong about this management team. I thought they gave away a multi billion dollar company for nothing. I was way off. They gave away nothing for multi billions instead.
I’m surprised your pants didn’t pop with raging hard on you had while typing that lol
Posted on 4/20/21 at 11:07 am to slackster
Some of the more interesting items from the financial statements.
Auditor: BF Borgers CPA PC Last Review Their last review by their regulator reviewed 7 audits and found only 7 of them to be deficient lol Cream of the crop!
Cash $1.7 million is the real asset on the books. No capitalized costs related to the technology (assuming commmercial feasibility it should have some). Dvelopment costs in the P&L are under $100K a year (how do you develop multi billion dollar apps for no money)?
And the cash includes $800K received for 500 million warrants @ $.20 (Sharp warrants). Less then 1 million for the right to convert into an amount equal to 50% of the O/S stock at year end. Comical to argue it is worth hundreds of millions. Oh and the $.20 is post stock split - nice.
Preferred B is convertible into 5 billion shares.
Thus, even at todays depressed price of $1.40, that suggests an equity value of the Company of about $8 billion on a fully diluted basis (ignoring any value for Preferred A super voting stock).
$8 billion for a company with no assets, no revenue, no development cost etc....
Sorry kids, this is a clear scam
Auditor: BF Borgers CPA PC Last Review Their last review by their regulator reviewed 7 audits and found only 7 of them to be deficient lol Cream of the crop!
Cash $1.7 million is the real asset on the books. No capitalized costs related to the technology (assuming commmercial feasibility it should have some). Dvelopment costs in the P&L are under $100K a year (how do you develop multi billion dollar apps for no money)?
And the cash includes $800K received for 500 million warrants @ $.20 (Sharp warrants). Less then 1 million for the right to convert into an amount equal to 50% of the O/S stock at year end. Comical to argue it is worth hundreds of millions. Oh and the $.20 is post stock split - nice.
Preferred B is convertible into 5 billion shares.
Thus, even at todays depressed price of $1.40, that suggests an equity value of the Company of about $8 billion on a fully diluted basis (ignoring any value for Preferred A super voting stock).
$8 billion for a company with no assets, no revenue, no development cost etc....
Sorry kids, this is a clear scam
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