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There was another case from another firm I saw online - Roche Freidman (?) to be lead counsel involving someone that lost a couple million. The one that lost the most will be the lead. I saw a hearing date for October for the decision.
So question is - can the company even survive that long?
Guess we will see what Brad has up his sleeve.
Good thing Brian’s dad kicked in that last $2 million - otherwise their cash on hand would be NEGATIVE.
It looks like Brads company will be part beneficiary of the $10 million he is suppose to kick in. Guess we wait to see how that all plays out.
You need to read the financials - and see all of the Preferred shares he has gifted to his family - they lost money from Operations.
So what have they accomplished - Humblpay was a failure.
And Foote/Sharp are always late to the party trying to catch a pumping trend.
Now they are saying they are getting into the crypto mining business - look at the Marathon financials.
IG
So is the dilution!
Revenues are up.
GO $HMBL
I’m so excited to see the #BLOCKS_REGISTRY being built out! This is just the beginning! #MakingHistory
@BLOCKS_DAO
HUMBL
@HUMBLPay
· Aug 8
#HUMBL mascot is hard at work demonstrating the IP / lifecycle of blockchain tokenization.
1. #BLUE has applied for his first movie audition
2. Over 600+ custom #BLUE derivatives will be minted and sent this week
3. All categorized on the decentralized #BLOCKS_Registry
“The stock market is first a voting machine then it becomes a weighing machine “
I’ll stick around for the scale when humbl is full force :)
Humbl said those lawsuits are baseless as anyone that has been following the company as for what it is accomplishing month after month can see clearly how all aspects can come together. Building a business is not easy. Also losing money is not easy. Just because some investors lost money and sold doesn’t take away from what Brian Foote and humbl are building here.
Well he is losing his shirt on his horses. Has to pay for them someway.
Del Mar - 8/14/2022
Race Race Type Breed Horse Finish Jockey Chart Video
3 Claiming TB Mighty Matt 7 Florent Geroux
10 Starter Allowance TB Lord Zed 10 Emily Ellingwood
Saratoga - 8/13/2022
Race Race Type Breed Horse Finish Jockey Chart Video
2 Claiming TB Pico d'Oro 6 Trevor McCarthy
10 Fourstardave Handicap (Gr. 1) TB Front Run the Fed 5 Irad Ortiz, Jr.
Del Mar - 8/11/2022
Race Race Type Breed Horse Finish Jockey Chart Video
8 Maiden Special Weight TB The Big Cheeseola 8 Florent Geroux
Saratoga - 8/11/2022
Race Race Type Breed Horse Finish Jockey Chart Video
6 Maiden Special Weight TB Curly Larry and Mo 4 Kendrick Carmouche
Saratoga - 8/10/2022
Race Race Type Breed Horse Finish Jockey Chart Video
5 Claiming TB Moon Mischief 6 Kendrick Carmouche
Arizona Downs - 8/8/2022
Race Race Type Breed Horse Finish Jockey Chart Video
5 Allowance Optional Claiming TB Mainline 5 Kody Kellenberger ]
https://www.equibase.com/profiles/Results.cfm?type=People&searchType=O&eID=2019898&rbt=TB
Crumbling! Financials are horrendous.
Nice volume! Sharp musta got his feed bill.
3:22-cv-00723-AJB-BLM Pasquinelli et al v. Humbl, LLC. et al
Anthony J. Battaglia, presiding
Barbara Lynn Major, referral
Date filed: 05/19/2022
Date of last filing: 08/12/2022
TO THE COURT, ALL PARTIES, AND THEIR COUNSEL OF RECORD:
PLEASE TAKE NOTICE that on July 19, 2022, Brendan Berry (“Movant”) filed a motion pursuant to Section 21D(a)(3) of the Securities Exchange Act of 1934,
15 U.S.C. § 78u-4(a)(3), as amended by the Private Securities Litigation Reform Act of 1995, for an Order: (1) appointing Movant as Lead Plaintiff; and, (2) approving
Movant’s selection of the law firm Bragar Eagel & Squire, P.C. as Lead Counsel for the putative class. ECF No. 12.
Movant hereby gives notice that he does not oppose the competing motions to appoint a lead plaintiff in the action. Having reviewed the competing motions,
Movant does not appear to have the largest financial interest in the relief sought by the class. This notice of non-opposition shall have no impact on Movant’s membership in the putative class, his right to share in any recovery obtained for the benefit of the class members, and/or his ability to serve as a representative party should the need
arise.
Dated: August 10, 2022
2. Quarter 2 2022 vs Quarter 2 2021 revenues at HUMBL increased 801%, gross profit increased 632%, net loss from continuing operations decreased 62%.
3. For the first two quarters (Q1 and Q2 2022 vs Q1 and Q2 2021) revenues at HUMBL increased 714%, gross profit increased 830% and net loss from continuing operations decreased 9%.
Very bullish $HMBL
Saweeeeet!! Still time to keep adding!!!
An oldie but goodie from pump rag specialist Insider Financial.
Those guys need a view from inside a federal facility.
"TSNP: Understanding The Price Action - Insider Financial" https://insiderfinancial.com/tsnp-understanding-the-price-action/180703/
no one stepped up to be the lead petitioner.
Who said that? The10q still listed it plus another lawsuit:
ITEM 1. LEGAL PROCEEDINGS
We have been sued in the United States District Court for the Southern District of California in a case styled Matt Pasquinelli and Bryan Paysen v. HUMBL, LLC, Brian Foote, Jeffrey Hinshaw and George Sharp, Case No.22CV0723 AJB BLM, which is a class action on behalf of shareholders of the Company since November 21, 2020 for alleged violations of the federal securities laws by allegedly making false and misleading statements regarding our business and operations, more specifically that the HUMBL Pay App did not have the functionality that it promised to investors and that several international business partnership had a low chance of contributing material revenues to our bottom line and that we sold unregistered securities through our BLOCK Exchange Traded Index products, all of which plaintiffs allege caused a decline in the market value of our shares of common stock. Plaintiffs seek unspecified monetary damages. We intend to vigorously defend the actions of the defendants and contest what we believe are baseless claims.
We also have been sued in the Delaware Chancery Court in a case styled Mike Armstrong, derivatively on behalf of HUMBL, Inc. v. Brian Foote, Jeffrey Hinshaw, George Sharp, Michele Rivera, and William B. Hoagland (Case No. 2022-0620) in a class action on behalf of shareholders of the Company since November 21, 2020 repeating the same claims as in the Pasquinelli litigation described above and also seeking unspecified damages. We intend to vigorously defend the actions of the defendants and contest what we believe are baseless claims.
With the accusation and the future business is the beginning of a great company.
$HMBL
Is the HMBL lawsuit kaput?
Just wondering.
Lol, these clowns acquire more garbage than the county dump.
AGORA hasn't Mined any crypto and they had the always failing S17 now they are buying 5000 Canaan AvalonMiner 841 13 (TH/s) miners which will cost about $1,750,000 but the S19 miner is much better.
But a real Crypto mining company like Marathon is spending - Marathon Digital (Nasdaq: MARA) agreed to buy 78,000 Antminer S19 XP bitcoin miners from Bitmain for $879.1 million.
As usual Foote is late to the party.
IG
No revenue growth from Q1 to Q2.
Continued losses
Continued negative operational cashflow
Asset impairments
Meanwhile the OS has jumped over 70% since December.
And people wonder why the price has dropped this far…
As always...grateful for your replies. HMBL 10-Q linked below. Candidly, as I'm too old to be coy, I don't comprehend everything I read in these filings. I know there will be much good spin despite the debt. As the debate unfolds on the numbers, I look forward to your argument -- if you in fact have interest in joining the debate. But I know you enjoy a good debate and I love to learn!
https://www.otcmarkets.com/filing/html?id=16013862&guid=_u1-keDrQVN2B3h
And HMBL will probably have to take an impairment like with itt's other investments due to a decline in the asset's market value.
Yes, a Bag Holding Company
seems to me HMBL becoming MAJOR holding company, this Brad Hoagland all about that too! so seems they will cont. to be very active in this role together now!. just wondering why Tickery not being pushed out front more for revenues 4 HMBL now? lots of pieces & still puzzled/ not educated enough to comprehend all that's going on but seems to be lot more than nothing! high profile meetings every other day?....apps /search - 3/ wallet program/ bit coin mining & on/on. GOT to be pot of gold @ end of this rainbow.
Did you see the announcement?
Another great acquisition for HMBL
I would spend some time inquiring about the new acquisition.
Building for the future!
? Not sure why I needed her to explain anything. Why would anyone need such to be explained? The seller is dumping off dead assets for stock only..... no cash. Humbl is willing to issue a ton of stock at a valuation that is way over priced. The loser is the seller(maybe not)..and HMBL retail equity players are the loser as the buyer(definitely).
Brian Foote was working both CEO and CHAIRMAN. He just wants to chill a bit more and will leave his pawn as CEO while he freely does the CHAIRMANSHIP.... Nothing has changed in here, just another acquisition, more debts and endless dilution. Now if you tell me, board of shareholders kicked the shit out of Foote, then, yeah, we are moving forward but it is not the case. Foote still the head of the snake
$ZEST went up since investors realized they dumped that dead weight Agora on HUMBL lol...that is the reason...all part of the insider enrichment scheme here with Mr. Hoagland and Mr. Foote and the rest of the deceitful insiders. I'm shocked the SEC hasn't stepped in yet, but this is all on the OTC...sooo... $HMBL
Will $10 million even touch a fraction of the debt and the ongoing burn rate.
It is great to toss out numbers, but when a company is increasing debt monthly and taking on more debt, the bottom line is what matters.
How long would a good revenue stream get HMBL in the black?
Humbl is killing it !!! Let’s go!! I bet more funding comes next and business will be booming with the acceptance of the s-1
HMBL
HUMBL CEO Brian Foote will no longer be the CEO. ??
HUMBL is acquiring AGORA Digital which is a bitcoin mining company.
New CEO appointed and Brian Foote is now Chairman of the board of HUMBL
This is BIG!
HMBL acquisition explained
Liquidity and Capital Resources
Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. Significant factors in the management of liquidity are funds generated by operations, levels of accounts receivable and accounts payable and capital expenditures.
As of June 30, 2022, we had $1,985,437 in cash. In the six months ended June 30, 2022, the Company’s subsidiaries experienced positive cash flow from operations generating over $2,261,995 in revenue. The Company expanded their product offerings through the acquisition of BizSecure, Inc. and the acquisition of Ixaya. These entities will be instrumental in the roll out of HUMBL’s Blockchain Services Group which currently is focused on providing services to governments as well as businesses. We also received $6,500,000 in related party long-term promissory notes and $2,000,000 from the exercise of 10,000,000 warrants. The Company intends to continue to pursue additional resources to continue the development of our core products and the roll out of new products.
We had a working capital deficit of $27,690,796 as of June 30, 2022 as compared to a working capital deficit of $20,965,419 as December 31, 2021, respectively. The increase in the working capital deficit is the result of the incurrence of expenditures related to the commencement of the various products and the current potion of debt that is due in the next 12 months. The Company believes it has adequate capital resources to meet its cash requirements during the next 12 months as they continue to grow and develop suitable sources of capital. A majority of the Company’s operating expenses (over 52%) are the result of non-cash charges such as impairment of goodwill and stock-based compensation. The actual monthly cash burn of the Company is approximately $1,250,000 per month at this time and as our core products come online, this is likely to decrease as much of this is directly related to the in-house and outsourced technology team. As a result of the operating losses and working capital deficit, management has determined that there is substantial doubt about the Company’s ability to continue as a going concern.
46
We expect that the revenue generating operations of the Company will continue to improve the liquidity of the Company moving forward. However, going forward, the effect of the pandemic and rising interest rates on the capital markets may limit our ability to raise additional capital on the terms acceptable to us at the time we need it, if at all. The challenges related to remote work and travel restrictions that we as a smaller company have faced in striving to meet our disclosure obligations in a timely manner while taking the steps to protect the health and safety of our employees have impacted, and may continue to further impact, our ability to raise additional capital.
The consolidated financial statements of the Company have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business over a reasonable period. The consolidated financial statements of the Company do not include any adjustments that may result from the outcome of the uncertainties.
The Company has made strategic acquisitions in the first few months of 2022 to enhance their core products and their intellectual property. Management believes these acquisitions will result in increased profitability.
The Company plans to raise additional capital through the exercising of their warrants as well as through future debt and equity financings to carry out its business plan. Obtaining additional financing and the successful development of the Company’s segments including their new Blockchain Services group, ultimately, to profitable operations, are necessary for the Company to continue operations.
Net cash used in operating activities was $7,559,595 and $3,431,561 for the six months ended June 30, 2022 and 2021, respectively. The $4,128,034 increase in net cash used in operating activities was primarily a result of the non-cash charges impacting our net loss from 2021 to 2022, such as the impairment of goodwill for Tickeri in 2021 versus the impairment for Ixaya in 2022. Additionally, we increased our accounts payable and accrued expenses by $1,330,140 from 2021 to 2022 and had net cash decreases as a result of changes in our digital assets of $885,355.
Net cash used in investing activities was $843,307 for the six months ended June 30, 2022 related to purchases of fixed assets of $13,572 and cash paid, net of amounts received in the acquisition of Ixaya of $148,675, purchases of a non-fungible token of $406,040 and domain names of $275,020. In the six months ended June 30, 2021we incurred investing activities of $234,151 related to $364,545 for purchases of fixed assets, $127,377 in cash received in the acquisition of Tickeri, and $3,017 in cash received in the acquisition of Monster Creative.
Cash provided by financing activities was $6,895,126 and $7,259,954 for the six months ended June 30, 2022 and 2021, respectively. Cash was provided through proceeds from sales of membership interests in HUMBL LLC in 2021 of $10,000, proceeds from the issuance of common stock for cash for $1,000,000, proceeds from the issuance of convertible notes of $6,250,000, and repayment of notes payable of $46. In 2022, the Company raised $2,000,000 from the exercise of warrants and proceeds from related party notes in the amount of $4,502,645, and a contribution of capital of $406,040 (as well as non-cash contribution of capital of $500,000) by the Company’s CEO.
Since the date of the reverse merger in December 2020 we have financed our operations through sales of common and preferred stock and the issuance of debt.
10Q
https://www.sec.gov/ix?doc=/Archives/edgar/data/1119190/000149315222022345/form10-q.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
? Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended June 30, 2022
? Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from ______ to ______
Commission File No. 000-31267
HUMBL, Inc.
(Exact name of Registrant as specified in its charter)
Delaware 91-2048019
(State or other jurisdiction of
incorporation or organization) (IRS Employer
Identification No.)
600 B Street, Suite 300, San Diego, CA 92101
(Address of principal executive offices) (Zip Code)
(786) 738-9012
(Registrant’s telephone number, including area code)
Insiders maintain their status for about 90 days after they leave the company. The question is did Brian sign a lockup agreement in his commitment to not sell until at least the end of 2023 or did he just say he wouldn’t.
He is likely bound by the former and not that latter.
Yes Ecoark had four divisions:
Segment Reporting for the Three Months Ended June 30, 2022 and 2021:
Prior to August 26, 2021, the Company operated in three segments. The segments are Financial Services (Trend Holdings), Technology (Zest Labs), and Transportation Services (Banner Midstream). Effective July 1, 2021, the Company’s chief operating decision makers in discussion with the finance team determined that the Company would add a fourth reporting segment to account for their Digital Asset mining business. Additionally, beginning on July 1, 2021 the Company began reporting its home office costs into the Commodity segment, charging its Technology segment a monthly overhead fee, and has recorded typical overhead expenses in their Finance and Digital Asset segments to account for this home office allocation.
——-
Banner Midstream being sold off to private company::
Furthermore, on August 11, 2022, Ecoark entered into a non-binding letter of intent to divest its oilfield services business, Banner Midstream Corp (“Banner Midstream”), in an all-stock transaction to a confidential public company also engaged in oilfield services
Seems they have a recent promissory note as well
EX-10.4 5 ea161858ex10-4_ecoark.htm FORM OF GUARANTY AGREEMENT
EXHIBIT 10.4
GUARANTY AGREEMENT
THIS GUARANTY AGREEMENT (this “Guaranty”), made and executed this 16th day of June, 2022, by the undersigned subsidiaries of Trend (as defined below) set forth on Exhibit A attached hereto, each an entity organized under the law of the State set forth opposite their name on Exhibit A (“Guarantor”), having an address as set forth below their signature blocks, and Trend Venture, LP, a limited partnership organized and existing under the laws of the State of Delaware (“Trend”).
WHEREAS, Trend has issued to Agora Digital Holdings, Inc., a Nevada corporation (the “Holder”), that certain Secured Promissory in the original principal amount of $4,250,000 of even date herewith (the “Note”);
WHEREAS, Trend and the Holder has also entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) and a Security Agreement (the “Security Agreement”), each dated as of even date herewith;
https://www.sec.gov/Archives/edgar/data/1437491/000121390022034008/ea161858ex10-4_ecoark.htm
Seems they have some sort of revenue from a transportation business other than the bitcoin mining and land deals, power deals, mining components and so on.
Agora was organized by Ecoark Holdings to enter the Bitcoin mining business. Because of regulatory uncertainty over Bitcoin being deemed to be securities, Agora’s initial focus is on mining Bitcoin which we believe is not a security. Because of regulatory concerns and the changing regulatory environment, Agora intends to seek opportunities to engage with cryptocurrencies that do not involve the offer or sale of any securities. Because of the plunge in the price of Bitcoin and the type of miners Agora acquired pending its attempt to close an initial public offering, Agora determined it was not presently feasible to conduct Bitcoin mining operations and temporarily ceased such activities on March 3, 2022.
On August 11, 2022 the Company executed a definitive agreement with HUMBL, Inc. (“HUMBL”) (OTC: HMBL) to transfer up to 100% of the issued and outstanding common stock of its majority owned subsidiary Agora Digital Holdings, Inc. (“Agora Digital”) to HUMBL in exchange for up to 6,000 shares of Series C preferred stock valued at $10,000 per share which will be filed prior to closing. The definitive agreement has certain closing conditions which have yet to be fulfilled at the time of this filing including a closing condition whereby the Company is required to source a minimum of $10,000,000 in capital for HUMBL prior to the transfer of ownership of Agora Digital to HUMBL. The definitive agreement contemplates that some or all of Agora’s minority shareholders, which consists of Agora’s directors, officers and consultants (some of whom are also directors and officers of the Company including our Chief Executive Officer and Chief Financial Officer) owning a total of up to 5,000,000 of the outstanding shares of Agora common stock, may also execute the agreement and exchange their shares of Agora common stock for the HUMBL Series C. Additional details will be provided at a future date via a Form 8-K to be filed by the Company with the definitive agreement and other transaction documents.
——-
Guess they need to add those series c shares back
HUMBL Withdraws Series C Preferred Stock
NEWS PROVIDED BY
HUMBL INC
November 03, 2021, 20:02 GMT
SHARE THIS ARTICLE
SAN DIEGO, CALIFORNIA, UNITED STATES, November 3, 2021 /EINPresswire.com/ -- HUMBL, Inc. (OTC Markets: HMBL) announced today that it filed a Certificate of Withdrawal of the Designations of Preferences and Rights of Series C Preferred Stock with the Delaware Secretary of State. HUMBL had no shares of Series C Preferred Stock outstanding at the time of the filing of the Certificate of Withdrawal. HUMBL decided to withdraw the Series C Preferred Stock because such series was not currently in use.
About HUMBL
HUMBL is a Web 3, consumer platform working to simplify blockchain use cases such as mobile payments, tickets and NFTs.
CONTACT:
PR@HUMBLPay.com
AgoraDigital consolidated financials through June can be found here:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1437491/000121390022047377/f10q0622_ecoarkholdings.htm
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HUMBL will allow you to send, receive, exchange and borrow money at up to an estimated 50% savings vs. competitors.
HUMBL will be working with partners in Latin America, Caribbean, Africa and the Asia Pacific in countries that have been overlooked or underserved by traditional payments and financial service providers.
CLASS ACTION
LAWSUITS FILED
Quick review of claims
2. Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business and operations. Specifically, Defendants made false and/or misleading statements and/or failed to disclose (1) that the HUMBL Pay App did not have even the basic functionality that it promised investors; and (2) that several of its hyped international business partnerships had a very low chance of contributing material revenues to the Company’s bottom line. As a result, the Company’s public statements were materially false and misleading at all relevant times. 3. Defendants also sold a series of highly speculative unregistered securities called BLOCK Exchange Traded Index (“ETXs”) products. These
https://www.humbllawsuit.com/_files/ugd/157867_cd077ccd1b51499996606718b32b36dc.pdf
NEW YORK, NY / ACCESSWIRE / May 20, 2022 /Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against HUMBL, Inc. ("HUMBL" or the "Company") (OTCMKTS:HMBL)and certain of its officers
https://www.barrons.com/articles/shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-humbl-inc-hmbl-investors-of-class-action-and-encourages-investors-to-contact-the-firm-01653059779
*
HUMBL is a Web 3 platform with product lines including:
The HUMBL Wallet™, HUMBL Search Engine™, HUMBL Social™
HUMBL Tickets™, HUMBL Marketplace™
and HUMBL Authentics™
For more information, visit - https://www.humbl.com
Company Update - Q2-Q4 2023 - May 18, 2023
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