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DeFi Technologies Inc N.DEFI

Alternate Symbol(s):  DEFTF

DeFi Technologies Inc. is a financial technology company that pioneers the convergence of traditional capital markets with decentralized finance (DeFi). The Company is focused on Web3 technologies. Its business lines include Asset Management, Infrastructure, Ventures, DeFi Alpha, Research and Stillman Digital. In the asset management business, the Company, through its subsidiaries, Valour Inc. and Valour Digital Securities Limited, issues exchange traded products that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. In infrastructure business, it participates in decentralized blockchain networks by processing data transactions from nodes based in Europe and the Middle East. Its ventures business includes making early-stage investments in companies, banks and foundations in the digital asset space. Its DeFi Alpha business operates a specialized arbitrage trading desk based in Switzerland.


NEO:DEFI - Post by User

Bullboard Posts
Post by PrintMeSomeMoneyon Mar 11, 2014 12:42pm
164 Views
Post# 22308371

Management fees and Credit Facility

Management fees and Credit FacilityToronto, Canada, August 29, 2013: Rodinia Lithium Inc. (“Rodinia” or the “Company”) (TSX-V: RM) Working Capital: Continue to Preserve Cash While the Company sees an increase in available working capital through the relinquishment of the Clayton Valley claims, programs remain in place to reduce corporate expenses and to preserve resources for value driving developments. Among the preservation programs in place is a commitment by the team to not take management fees or pay non-arm’s length compensation or advisory fees. On site, the team has been reduced and work programs adjusted accordingly. So they did make a commitment to stop taking management fees, but in the filing on November 28th, 2013, they show management fees on page 5 of $253,090 for the 3rd quarter. On page 15 it shows $1,387,715 due to management and related parties. At this point, maybe the worthless SOB's ought to write their compensation off the books, they don't deserve it. On page 16, it indicates that there is still $1,400,000 left on the credit facility. So why at this point did they choose to dilute shares some more? One answer would be that they figured they better dilute before the share price dropped any lower and they couldn't do it at all. I think they intend to ride this into the ground, taking all the management fees they can get. They obviously haven't kept their word.
Bullboard Posts