Fineqia's Investments and Path Forward I'm not making excuses for our investment in Nivaura. Just trying to make sense of our webpage. Why is Nivaura still on there? The order of investments are interesting too. It start's with Wave at the top and Phun at the bottom. Why that order? It's not alphabetical order. It's not the order in which they became investments. Maybe it's an order of most important to least important.
Then why PHUN at the bottom? Nivaura and Black are both marked down to zero. PHUN, formerly headed up and founded by a conman in my opinion, is at least worth more than zero. Just barely. It's sitting at 26 cents, an all-time low. So it is hard to forgive this team for not welling it at $8 when they had the chance and we pleaded with them in open letters to liquidate it. I can't make a case for that.
But why Nivaura and Black still listed? Black Insure updated its website over a year ago, but then went black again. And is it possible the software code we bought is our only investment left? Is that why Nivaura's founder was given shares in our company? To make it work? Is it possible the LSE pulled his funding? Perhaps a round he was counting on, and then he plunged into insolvency? Was the sale of Nivaura a liquidation of assets? Is there still some legal obligation NowCM has to our software code? Is that why it's above Black? Two zeros with a promise of resurrection in a new form? And both of those Zombies valued more than PHUN, which is worth almost ground zero?
Will all or some of these investments move to Glass Slipper Ventures? And if so, is it possible that that fund starts with even more investments from its own capial raise, and do we get a portion of the entire fund, which would be valued on the books as greater than the sum of all our invidividual parts? In some high finance move? I don't know. But they are acting very excited behind the scenes. And pouring money (with extreme dilution), but I'm feeling more hopeful this week. Maybe Avtar, Nivaura, wants revenge in a liquidation scenario where LSE betrayed everybody? I don't know. How can you explain his free shares here? He must have some purpose besides fleecing everybody .I'd hope.
Then again, investors in the past did put up a lot of money. And here we are today. So, it's a very hard case to defend. New investors will wonder why everybody gets fleeced here and rightly so. So, I really want to see a good story. I want to see projections and a real product come out. I hope Nivaura and Black somehow have a reason for being on our investments portion. They were there long before work started on the FAQ section, so that's either negigence or fraud if they don't come to live in my opinion . Really hope to they are happy for legitimate reasons. They all crash and burn with us if that's all false hope, which again, makes me feel a bit bullish. Tired of waiting, but a bit bullish nonetheless.