RE:FRAUD that underpins the ‘Business’ of Namaste. A step farther- David Hughes sold it to ‘lifted innovations ‘ and lifted innovations is wanting to ipo this year. Lifted personnel are friends of Sean Dollinger- Alan Ritter to name just 1. Sean
may have privately invested in lifted and is making money on the investment, especially when it ipos and we are not making money from the assets like he is. That’s the smoking gun folks.
quote=Tmlgirl]Citron asks, “Who in the world would want to buy a money hemorrhaging online vape business from Namaste?”
In a direct response to that simple question, Sean Dollinger replied:
“[Question:] and the buyers are arm’s length, are they? [Sean]: absolutely! It’s a group out of Europe” Sean Dollinger, Nov 28, 2017 Call
Namaste allegedly sold these assets for US$400k to ESC Hughes Holding Limited. The terms were $100k down and $25k a month (which we do have any record of being paid)
SMOKING GUN FOR FRAUD
A simple corporate search will illustrate that the purchaser is out of Ireland is not a third party, but rather none other than Namaste executive David Hughes.
Here is the signed version of the same document
https://search.sunbiz.org/Inquiry/CorporationSearch/ConvertTiffToPDF?storagePat h=COR%5C2018%5C0419%5C11995491.Tif&documentNumber=P16000017747
Namaste Executive (David Hughes) Bought Dollinger Enterprises. And just in case, you believe his name is a coincidence, you will see that the other signatory on the document is none other than is Paul Burns, the HR Manager at Namaste (LinkedIN).
Just to be clear, Dollinger said he sold this asset to an arm’s length party… but it was really sold to David Hughes who has been with Namaste since Feb 2015 (and Paul Burn who has been with Namaste since 2016) – can investors trust anything Dollinger says going forward?
Namaste has lied to its shareholders, Canadian Regulators, US Regulators; and most of all has attempted to hide US assets from the Justice Department in an attempt to obtain a US listing.
Citron’s theory makes this a criminal offense.
Could it be possible that Namaste gave away revenues of owning Dollinger but not the costs? In other words, could they be stealing money from the company?
https://citronresearch.com/wp-content/uploads/2018/10/Citron-has-exposed-complete-FRAUD-at-Namaste.pdf
[/quote]