Without context anything can sound horrible. You can't just pick and choose what you want without providing a complete overview of the exact circumstances and evidence surrounding your points.
- First it was 'Magic Sugar' formulated by a Noble prize candidate;
- then the 'magic stem cell supplements';
- then the 'magic collagen';
- then 'Magic Bread' by endorsed & sold by some Canadian celebrity;
- then 'Magic pasta' that they sold million off on amazon & China- where they were unable can't cope with the demand;
- then the 'magic bubble tea'
- And then after all of these 'magic' announcement moments since 2009, they have taken $15M of investors money, and still haven't had one profitable year;
Well infact the 80less product is still generating revenue and actually has a lot of potential, it's all about scale. Once they land enough contracts they will be profitable on that front.
The rest I couldn't care less about and it isn't why I bought in to this company and I suspect many others are the same. Little bit of information for you, you don't come up with a Billion dollar idea on your first try, it takes many many goes before you MIGHT become successful at one, even then it's a slim chance. Trying is better than not, the investors buying in know this.
So 2020 arrive, they are out of money again, only $100K left of the $15M they have taken from those hard working investors. Well someone need to maintain their lifestyles, then tell everyone that they have signed a million $ sale deal selling 'magic sanitizer balm/sprays' that will kill Covid19 out of nowhere and announce a fundraise;
Then tell everyone they have signed a million $ sale??? Sorry I didn't realise binding distribution contracts are just fiction of the imagination? Have you lost your mind? This isn't made up, it's a contract?!
This "Magic" Sanitiser has been PROVEN in a third party LAB to kill the covid surrogate, I suppose according to your logic this is made up as well??
The "Fundraiser" Was part of a CPA (that's a controlled placement agreement) which had already been in place. Not to random retailers, and the discount was minuscule.
Then they put a video out about all of this 'CoVid19 magic', then they retract it;
It was retracted because he didn't say the word surrogate.
Then they cashed some of those options they have handed to themselves for free- Pay day- $756K- thank you
It's called performance milestones genius, something very important and I'm thankful they have!
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They're wages are actually modest. I don't expect the CEO and founder to be paid anything less. Not to mention he owns 34% of the company.
I've already calculated what it takes for them to be profitable and it will happen this quarter, I'm not going to do your math for you.
