RE:Share BonusesAs I said from the beginning, this company is set up to get all the money from the ICP investors in their pockets. Sydney Himmel left the company with $ 2.1 million and came right back through the backdoor. Sucked out more money as a pimpel pusher. Took more money with GPCR.
Then he starts CX-One. BLGV invest $ 131,000 Every Q after that BLGV gave it a "Fair Value" of $ 670,000 Since it is a private company that is hard to verify. But here are the financials:
| CX One Inc. | Three (3) Months Ended
September 30, 2020
(unaudited) | Year Ended December 31, 2019
(audited) | From November 12, 2018 (inception) to December 31, 2018
(audited) |
| Revenue | $nil | $nil | $nil |
| Comprehensive loss | $(208,349) | $(1,670,969) | $(50,001) |
| Total assets | $1,687,991 | $1,922,486 | $2,816,116 |
| Total Liabilities | $346,461 | $97,207 | $93,875 |
| Shareholder's equity | $1,341,530 | $1,825,279 | $2,722,241 |
Typically a company that "Lives" of shareholders money and makes no penny.
But then CX-One comes with this:
CX One is a private company incorporated under the Canada Business Corporations Act, formerly focusing on biotechnology, which has recently transitioned to focus its activities on gold exploration and development. The principal asset of the company is cash. None of CX One's shareholders hold greater than 20% of the outstanding CX One common shares, CX One is otherwise directed by its board of directors and management comprised of Sidney Himmel (CEO and Director), Philip Luong (CFO), Daniel Pharand, Darren Collins and Marc-Andr Lavoie.
If BLGV holds $670,000 ,that would be more than 20%. So in the last financial update they gave it a "Fair Value" of $ 321,600 That is how they cheat you.
The way they pay themselves, there will never be value for the investor.
Board of directors is completely useless. They agree on everything as long as they get paid.