In response to previous post asking why I am here...I am here because I too fell victim to the repeated offerings of hope lauded by CHIT in the form of Budcube International. I am still sitting on more shares of CHIT than I care to admit because I foolishly did not dump them all during the last run. At this point in the game whether everyone on this board bought more shares or sold all their shares, it would likely have 0 or near 0 effect on the pps, which is why I actually don't care what you do. I have stated before, I only care about ensuring the truth is told. There are far too many lies thrown around today that are marketed as truths, I wish to do my part to combat this disgraceful practice.
The context of the post to which you replied appears to have been missed. The claim I made regarding total assets being greater than the GDP of the US was not about CHIT, but was about NVC Funds and related entities. Depending on what time frame you were to look at documentation from NVC Funds or which site, they claim to control assets in excess of 25,000,000,000,000$ (aka 25 trillion dollars). This particular claim is further made ridiculous when it is revealed the 25 Trillion in assets is in fact theoretical. Many years ago a crooked geologist posted survey results for the plot of land now owned by NVC Funds that stated it was rich in gold, platinum, palladium, and rhodium (not to sound too skeptical on this point, but usually coincidences of this nature are not actually coincidences at all but instead a fabrication by someone of limited imagination. Platinum, palladium, and rhodium happen to be the 3 main elements that make up automotive catalytic converters, pretty insane odds they would be found next to each other). Said geologist later lost his surveying license due to a number of fraud charges (unfortunately don't have the reference to this off hand, and don't care enough to look it up). This plot of land (from here on referred to as 'the asset'), was eventually acquired by Frank Ekejija. Shortly after this acquisition Frank started creating various venture capital companies where he would sell units of 'the asset' (which he initially valued somewhere in the hundreds of millions of dollars) in exchange for shares of a company. The units (from here on referred to as 'trust units') were a place holder that was backed by the perceived value of the asset. This is no different than the way shares of stock are used to represent a measurable piece of a company. The key difference being companies post financial reports which are used to extrapolate the companies valuation, whereas the asset is worth whatever Frank says it is. Its not at all illegal or fraudulent for Frank to sell you trust units in exchange for shares of your company. The problem is the asset has no cash-convertible value and has never been mined (and according to his own business plans, will never be mined). Its like Schrödinger's cat, until someone actually starts to mine the land, it could be considered both super rich in minerals, and not rich at all because there is no way to know until someone starts mining it. So, now that the background on what NVC Fund exchanged to CHIT has been established how about you take a new look at the transaction. NVC Fund agreed to sell 5,441 trust units to CHIT in exchange for 100,000,000 shares of series B Preferred stock valued at 2.50 per share. Do you see yet why its not "technically" fraud to state CHIT entered into an agreement with NVC Funds to acquire 250,000,000$ in assets? I would also ask you to pretend NVC Fund is a legit company, and that you are the sole financial decision maker there. Would you ever agree to invest 250,000,000 in a company that since its inception has failed year over year and quarter after quarter? Even if you have faith in Budcube with CHIT as I did, we are talking about a subsidiary that MIGHT one day bring a few million in yearly revenues (but again I must reiterate, that has not happened, CHIT has lost money every year). So, would a legit businessman invest 250,000,000$ in CHIT on the hopes that 1 of its subsidiaries turns things around and basically overnight becomes the single most successful cannabis business in the world (despite verifiable history to contrary)?
Until you fully grasp the difference between perceived value and stated value, you will have a hard time understanding why CHIT and NVC Fund are crooks without actually breaking the law. Control the message correctly and the naive will follow you to the ends of the earth (I only need site the 2016 US election results to back this point). A press release stating CHIT receives 250,000,000 in assets is not the same as CHIT submitting official financial documents stating they have 250,000,000 in cash on the books. 1 is fraud, the other is free speech.
AI
