Following the Trail of Money Evaporation Where does all our money dissappear to? Besides the obvious that we talked about: Two funding rounds to Black Insure and THREE funding rounts to Nivaura. All up in smoke. Every single dollar burned. Marked down to zero. Criminal? And then a NIvaura software code purchased for somethin glike $60K if memory serves correct just before it all gets marked down to zero. Which is never to be heard from again. Then Avtar, founder of Nivaura, just got a bunch of shares in our company for doing absolutely nothing for us but taking our money. So he wants more in the form of diluting us?
I have over 8 million shares here, so I have to be angry and I dare anybody to object. Right now, I want blood and vengence.
Where is did our $5 million go in just a few months? There is only $55,000 left and Bundeep already wants to bottow another $1M? At the rate he burns our money, that will be gone before he raises it. In fat, the $5M was virtually all gone by the time he finally raised it. I'm really, really angry.
https://services.cds.ca/docs_csn/03545571-00000001-00025560-C%40%23SEDAR_Filings%23Fineqia%23FS%232023%23Q1_MAY_2023%23FS_Q1_FINAL-PDF.pdf
So, where did it go last quarter? ZERO REVENUE. Always zero revenue. We buy software codes for revenue, but they vanish. And why are we investing in companies that get marked donw to zero? Why not open a snowball stand? We could have a fleet of snowball stands by now. I'm serious too, making money! Or lemonade stand if that's too hard.
So how do burn almost $1M in one quarter with zero revenues to offset it?
1. $233,000 in wages. For what? Bundeep traveling around the world to raise money and burn it on worthless investments? Why are we paying him? Who else is getting paid? What are they doing? That's a big chunk of it. Gone.
2. About $400,000 in "professional fees and consulting and advisory." For doing what? What they have done for us? What professionals? What consulting? Was the advice to invest in Nivaura 3 times and mark it down to zero? Was that advice worth $400,000? This money is just being burned.
3. $13,000 in travel and lodging. What is that? Bundeep hasn't fleeced us enough? He can't pay for his own dinner? Is Martin Graham staying in a 5 star hotel? For these results, you should be staying in a Palace Inn for $30 bucks a night at most. And eating cereal for breakfast.
And that's basically where it all went. up in smoke. No revenue, no other meaningful costs. All right there. That's our governenance from Martin Graham? That's what he thinks investors want to see?
4 PROMOTION -- 54,000. How about instead of professional fees, we pay somebody $400,000 in promotion that have a following? The people we hire are WORTHLESS marketers. Not even worth $54,000. The small bulk of it, yet they still do more than anybody else. I'd rather pay somebody $100,000 a year to just write Seeking Alpha articles every month, good production videos with music, and somebody that can get 5 million hits on You Tube and tell investors WHAT THEY WANT TO HEAR.
I'm so angry I'm about to cross some lines...