This is why I think it is a scam - which of these is untrue?
More major fraud flags than any company I have ever seen. Accounts receivable growing with no increase in cash - one of the most common fraud flags. Revenues from least 2 years without any payment (and some of the work was COMPLETED at least two years ago or they could not book them according to standard revenue recognition and ALYI’s own policy.). The value of the digital currency Ven remained constant once again despite being a digital currency that fluctuates versus the dollar. Impossible. CEO Randy Torno doesn’t have ALYI on his LinkedIn page just like Alex Wash doesn’t list that he was CEO of LEXG for years on his LinkedIn page. Instead Torno only lists his current work with an international consulting firm and probably (this part is my guess as to why but what other reason would he have to hide what is supposedly his MAIN JOB?) hides his ALYI involvement due to his real job’s strict ethics policy (that is not supposition - they have a huge focus on ethics and compliance). Randy Torno went silent after he promised a large Kenya contract that never happened while at ANCE (sound familiar?). The fact that Randy was the only board member of PJET which had a full time college student as the CEO (again not on his or Yasmine Acebo’s LinkedIn profiles) while he gave it away for literally nothing and went silent. The fact that he, even for a short period of time, PR’d a potential partnership with LEXG which the least amount of due diligence would have revealed was a fraud prior to issuing these PRs. The ICO is particularly funny - $100MM ! No details as to how this will exactly fund LEXG or other projects or if the ICO buyers will get ALYI “technology” or ownership - they announce have broker interest (which doesn’t mean the broker will buy it - it means they will accept a commission if they can sell it) and they announced “partioning the blockchain” as a milestone when it’s like saying “we have set up the future sales spreadsheet” for a non existent company. The first $2.5 being used to build a conference center is bizarre. That the ICO research was performed by paid for pumper Rob Goldman. Paying for PRs and paid research when they supposedly already have $100MM of funding lined up. Why does it take so long to go from PR to LOI to funds? It’s not like they are re-inventing contract law. How good is the intent of milestones and details are so unresolved? Being run by one part time CEO with no technical skills and one fundraising (no marketing or technical skills) consultant, the misrepresentation of Professor Mitlin’s role in the technology, the hinting that ALYI was partnered w a major company when it turned out that will be, in some way, for a conference not for product, the amount of time required for the US and Africa contracts (yes US contracts are also still promised just not retail) but to come to fruition, the assumption that anyone would invest or order from a company with no financial or engineering resources (despite Randy saying companies needed product immediately in just in time delivery), the fact that they fund via dilution and an ICO scam rather than legitimate venture capital or partnering. The unauthorized use of Steve McQueen and then keeping up unlicensed pictures of Conan O Brien and Johnny Deppy riding aural sand Harleys to make it look like they own something ALYI built and keeping that site up to make it look like they are still planning to sell retail (they are not - that plan made the time window to easily fact check the fraud too soon), and the fact that Randy says ALYI needs “just in time” manufacturing when the alleged buyers are obviously willing to wait years to buy from a company with no workers, no financial resources, and no technology (no patent assets on the balance sheet - they dropped these years ago when the couldn’t afford to pay Air Products the licensing fee - google the patent numbers in their disclosure which they never update including saying Randy is “expected” to get his PhD in 2017). No shareholders agreement, no board for oversight, only one controlling vote holder via preferred shares all to allow unlimited dilution without a vote.
AI
