Finally able to read this eyesore they keep serving.
1. On August 30, 2022, the Company announced it had acquired full IP rights of its Debt Issuance Platform from Nivaura Limited. The acquisition includes the software code and associated intellectual property of the fintech platform, which enables the placement of debt and equity instruments. Nivaura is a UK-based blockchain company that had also delivered solutions to the London Stock Exchange Group (LSEG) and Singapore’s DBX Bank.
MY THOUGHTS Since we got taken advantage of by its founder and this company marked down to zero, sold to a party where we got nothing, does this mean we bought a lemon? Or will fruit ever come of this? Why is nobody being held accountable? That was one full year from today. Just months after we invested into Nivaura for a 3rd time, so somebody had to know they were fleecing us when they took that money a third time. How can you not know?
2. On April 13, 2023 the Company announced that it has appointed Independent Trading Group (“ITG”), Inc. as a market maker
MY THOUGHTS: Okay, so what are you doing? What was the point of this if they are going to sit on their $@$ 24/7? What are they doing for us??? Hire the mafia that actually works and can move stocks. What's wrong that idea? Is anybody throwing their money into this just to watch paint dry?
3. On August 15, 2023 the Company announced the closure of the second tranche of the private placement. The Company issued 30,969,600 units to raise gross proceeds of $308,996 and a payment of finders fees worth $700, for a cumulative issuance worth $309,696.
MY THOUGHTS: WTF is this??? What does this mean? Why are we not getting answers to anything? Why did we raise $170K to spend $300K on another investment? Are we going to write this one down to zero too? Are is this company ready to pull its head out of its #$#? Pardon if my long-enduring patience has come to an end after years of abuse.
4. Promotion costs increased by $33,451 from $18,587 in 2022 to $52,038 in 2023. The increase reflects the increase public relations expenditure of the private placement;
MY THOUGHTS: What are these promoters for us? Do we get a refund? Or is this marked down to zero like everything else we purchase? We don't get anything for our money. Where are the articles at Seeking Alpha? Where is the following? Once again, why are we not hiring the mafia? The mafia gets results, right? They understand how to promote stocks, right? The people we are using obviously can't do the job.
5. On June 16, 2022, the Company signed a Rolling Credit Facility of up to $1,225,000 (£750,000) with Rangar Capital Limited, a company controlled by the Company’s CEO, to finance its operating activities. As at June 30, 2023, $1,067,960 (December 31, 2022, $550,731) had been drawn down. Interest is charged at the rate of 5% per annum, with the drawn down amounts and interest being payable on demand. Rangar Capital Limited have indicated they will not seek repayment but will accept settlement in exchange for units of the Company, and roll the credit facility forward.
MY THOUGHTS: This is a double edged sword to me. On one hand, I wonder why Bundeep has the audacity to charge us 5% interest when he's the one that put us into this mess. Instead of raising money, he should put his own money with his mouth and just give us this $1.2M which would make up for all of our hard earned money that he threw away on Nivaura with nothing to show for it. And whose founder got shares in our company which are worth toilet paper. So, maybe that Nivaura founder may want to think about WORKING? And then on the other hand, at least Bundeep is trapped here. Of course he can't seek repayment. He's going to get nothing if he doesn't do something here. We don't have the money to pay him back. We struggle to raise a $300K which takes months and massive dilution. As he dilutes himself in the process. So there is a little justice self-inflicted perhaps.
Maybe, just maybe, this will make Bundeep and the founder of Nivaura have a little sense of urgency for once? A single focus on Fineqia? Are they ready to feel our pain yet? Or do they want to start serving shareholders? Which means serving themselves???