RE: RE: RE: RE: From most recent Affidavit- Aug 27 Gene and Uncle:
You guys are going through a lot of effort here. I can't imaging what is your motivation.
Look at this, and I will calls names. Andrew, in my opinion, overspent in areas that was mind damming. I just think that he had his priorities all mixed up. Yes he overspent on NASCAR! That is a fact! This was a gross misallocation of precious assets. The very first lesson that is leant in accounting; the very first lesson that is learnt in economics is very simple - "Money is a rare asset". I would think that any and every idiot know that as a fact. So in my opinion, when money is spent without a proper plan it is spent because of an addiction. And there are many different types of addictions.
Now Andrew is scrambling here for and 80$K and there for another 200$K with NASCAR's tailpipe fitted into Poynt's airhole. How does that make you investors feel? The tailpipe is hot and CO (carbon monoxide) is coming out of Poynt's mouth because of this stumble. And it is a stumble. Some idiot will post that Nascar has 75MM viewers! So pucking how does this help Poynt? And look at this, the per capita users in Canada is higher than the per capita users in the USA!
Terren is the architect for the China initiative for both INT and PYN (?not saying that there is a conflict of interest or that there is a favored player for him - just thinking aloud). He is playing these cards for his personal best interest. You can't give him wrong for that. Look at this coincidence:
- Poynt had a PP with Socius (15$MM) and was told to invest it in Poynt China
- Poynt borrowed 1.5$MM from Intertainment (secured) and had to integrate it into their platform to accommodate the China expansion
- All that borrowed money was for China not for NASCAR or for RWR!
Would Poynt get the financing?
Yes!
But we must return to the real business at hand
Poynt is a super-application. The potential is great. New verticals could include social network; mobile wallet etc.
The current SP of Poynt is already heavily "diluted". The book value is about 0.06$ and that is without China! China will add tremendously to SP valuations. A JV partner will enter and there will be unit "dilution" . That is okay as that will send the real value of Poynt (book value) to around 0.04$ with China. With the China launch we should see the 0.20$ mark and then I will exit because I am fedup with Andrew!
Have a good day everyone