MBAK Energy Solutions Inc (MBAK)

[alexbh2285]

Where’s the $60K? At last quarter end they had $15K cash on the balance sheet and that is broke. No one would buy anything from a company with $15K on the balance sheet. No office furniture, leasehold improvements etc. apparent and certainly not on the balance sheet and it’s not clear they have an office as they used to break out rent and don’t now but it could be globbed into SG&A. They have $117,004 of digital currency Ven on the balance sheet. However this has not changed for years which is impossible in a floating rate currency so that can’t be relied upon. Assuming Randy has furniture in his non-office are you suggesting that it is a liquid asset like he would actually pawn the furniture, if it existed, to fund operations? They have only funded through dilution from to 149MM shares at March 2018 to 599MM shares as of March 2020. which is where the $2.5MM from Henryk Dabrowski will come from if anywhere (now that is not a fact but I think it’s a GREAT bet). He came from ALYI when he dumped it as a digital payment company and then went onto instigate the CIAU ICO that was shut down by the SEC. If he has risk capital he’s not putting it in here as cash but only as a risk less death spiral dilutive convertible. This company is silly.