Updates ...
- Accountants are coming up to speed
- Hillary fundraising will get going this quarter, but focus will be for latter half of year
- first 10-Q later this month
- The company has truly bumbled things up for sure, but they are turning around.
While I can say definitively that this is not a scam, one can very easily conclude that it is, and many have done so. Usually scams are designed to rip people off AND to make money for the insiders (money goes from one pocket to the other pocket) and I can assure you that that the latter part of the AND hasn't happened here at all. In fact just the opposite. So if you want to define a scam as just ripping off investors with those doing the ripping off not actually making anything in the process, well then, you are free to argue that, but that would seem to be a waste of one's time, sort of like robbing a house but never actually getting any money for what was stolen, doing it for the sheer joy of ripping others off or because you have nothing better to do with your time? But in fact I would argue that even the employees have lost out to date, in some cases people have not gotten fully paid for their work, etc. Like I said, a scam involves the scammers MAKING money - NOBODY HAS MADE ANY MONEY.
To that end, trying to be unbiased, some other angles:
1) MAYBE SOME lenders have made some money, so if you want call it a scam where the management gave lending opportunities to their friend lenders and maybe went into cahoots sharing in any money that the lenders made, well then that's a pretty far fetched idea.
2) The management INTENDED to scam people but were too incompetent to do so. Hmm, ok, with all the incompetence I guess that one is possible LOL
3) The management hasn't given up their goal of scamming and we are still in the early stages of the scam which will come after the company becomes successful. Hmm, that would be sad..
I do not subscribe to any of these just aforementioned angles. My personal view as I have stated many times, XCLK had good intentions, they had piss-poor execution, and they are in the painful process of picking of the pieces. Take or leave what I say, but that is my understanding.
