Yippy, Inc. (YIPI)

[Crazy Money]

Lots of CEOs post on iHub...

RichGranville Member Level Tuesday, 10/21/14 09:17:39 PM
Re: BigBake1 post# 36762
Post # of 36944

Sir,

I may post on any public forum I feel appropriate. It really depends on what side of the stock you are on as it relates to responses in most cases.

Most CEOs won't because they don't care to interact whatsoever with their shareholders. This is especially true on the OTC.

To clarify - The "common shares" (1.67M - 3% of issued and outstanding) were acquired by a finance company in a deal in late 2009. The company was fully reporting until last 2010, so I assure you that the deal was not only appropriate but provided the cash on hand to purchase Velocity.

Yippy was busy in development and acquisition mode in 2011 - 2012, and as such we needed funding like every growing company. The finance company who could have sold every share in 2010, held them, and allowed Yippy and the Magna Group to collateralize a $2M line of credit as a third party guarantor for the secured credit line which I also personally guaranteed in early 2012.

Fairly simple transaction, and we drew only what was needed for deals like Muse Global, Macte labs, and the creation of our EASE platform. We never drew more than $700K on the $2M line. Yippy is very good at making the most of every dollar we spend.

I hope this makes sense to you.

Regards,

Rich