I don't think Spark Plus (Omar) would be very happy with how this has unfolded.
He did pocket approx. $50,000 cash from the deal, but the management fee, placement fee, and out of pocket expenses were all paid in worthless shares! (Currently, Spark is the 14th largest SCU shareholder according to the Annual Report). More significantly, Omar sold this 'opportunity' to his clients on the expectation SCU would be trading by August. I assume he has lots of angry clients (possibly including @randomguy88) blowing up his phone daily wanting to know WTF is going on. Meanwhile, a lot of those people's money has long since been channeled into Gu and Chu's personal bank accounts!
Timely to lift a quote from my all-time favorite Xmas flick - 'Welcome to the party pal!'
Ann: Company Update, page-12
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.189M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 24 | 14202972 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 1011756 | 10 |
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