Pimco New York Municipal Income Fund III V.PYN

RE: Poynt used as example of excess

[hesuver]

 

Thanks Uncle Herbb:

 

That was a much better post by you.  I really enjoyed reading it and the opinions expressed.  This makes for some good discussion. 

 

The writer was correct in stating that Poynt "chewed" (kind of a bias word) through 41$MM dollars of venture capital and used Poynt as an example of overspending to create a mobile application.  That is a fair point. 

 

Where did that money go?  I mean to say 41$MM to develop a mere mobile application!  Where did all this money go?  Let me answer your question.  Please open your mind as you follow me on this one.

Part of that 41$MM came from Socius with stipulations and an agreement that it must be used to be invested in the poyntChina launch.  See the picture!  Socius was approving 15$MM of this massive 41$MM for the China launch (and nothing else).

 

What does that leave us with.  I am a bit dumb so bear with me!  41 minus 15 is equal to 26.  I think that I got the answer.  That leaves 26$MM for every thing else.

 

But let us continue with this equation.  According to the report 6.175$MM was invested to acquire UniMobile.  Oh my gosh this math thing again.  26 minus 6.175 (shucks it gets difficult here) is equal to 19.83.  Got the answer 19.83$MM remains to do everything else.  Ok, we had to pay Terren Penzier 2.5$MM (I am getting better at this arithmetic now) and that leaves 17.33$MM to everything else.

 

What has been achieved with that 17.33$MM.  Develop a mobile application known as Poynt.  No!  No!  No!  There are other costs.  Let me list them in Points:

1. Canada Launch for Poynt
2. USA launch for Poynt
3. UK Launch for Poynt
4. Australia launch for Poynt
5. Spain launch for Poynt
6. Germany launch for Poynt
7. Italy launch for Poynt
8. France launch for Poynt
9. India launch for Poynt
10. I am missing one
11. Developing Patents
12. Registering Patents
13. Paying for directory access (Yellow Pages etc)
14. Paying for Gas Buddy affiliation
15. Continually improving and adding to the verticals
16. I will list no more

There is no excess here.  I can't understand!  I can't comprehend how you would read something like that then come to the board and repeat it like a parrot.  Can't you think for yourself?  Did someone give you that article and asked you to post?  Is your first name David?  Are you a clown?

 

Asking questions and just wondering!  You can't be for real!  You just cannot be that stupid!

 

Andrew did wonders with the amount of venture capital that was received.  AMEN!