Fact Checks:"They're aiming to raise one million dollars before...

Fact Checks:

"They're aiming to raise one million dollars before expenses". They're aiming to raise $3m, they have firm commitments for $1m.

"Everblu will get a 6% cash fee, amounting to $60,000." Everblu are taking shares in lieu of cash.

The 240m share issue is bizarre, but 6% is a standard raise fee and for a company that has no money a Lead Manager willing to take shares in lieu is a good result. Understand the criticism, but be balanced. They have little choice - they have no money and if they plan to do anything other than wind up they need to raise (understand they view they should just wind up, too). Nobody is going to lend to them, so capital raise is their only viable option.