Monday, December 17, 2018 8:57:07 AM
Even if everyone thought Elana was the more valuable claim they wouldn't give up a source of revenue for a "contract purchase". The company would have needed (and still needs) cash.
San Felix was never generating $500,000 every 12-14 days. Two factual reasons that support that theory;
1. The income never hit the financials (even if it had been embezzled the company would need to show the income and then write-off the loss.)
2. There would be no need to sell a revenue generating entity. If San Felix was generating that kind of cash there would be no reason for an "either/or" scenario between Elana and Felix. The fact that there was an either or decision means Felix wasn't producing what was being claimed.
3. An entity generating 12 million a year of revenue would never get sold for $4,000,000 on contract purchase. Two issues with this. First, the valuation is completely off. Second, there would be some kind of immediate cash commitment and/or revenue sharing. After all the reason Mexus needed to sell Felix was to raise cash to build out Elana.
Elana never made the amounts that was (and still is) being claimed.
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