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VMNT does NOT have $30 million to do deals.

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Lazarus Member Level  Wednesday, 09/09/20 06:55:38 PM
Re: Jreyes013 post# 1101
Post # of 1206 
VMNT does NOT have $30 million to do deals.

Read the news:
Vemanti Group, Inc. (OTC PINK:VMNT) a multi-asset technology-driven company, today announced that its portfolio company, Fvndit, Inc. (“Fvndit”), has secured $30M in non-dilutive financing from two US-based institutional capital partners for its Peer-to-Peer (P2P) lending marketplace eLoan JSC (“eLoan”).

Fvndit is a private company - CEO = Tan Tran.

VMNT owns 20% of Fvndit.

The next think you need is a basic understanding of banking.

On a bank's balance sheet LIABILITIES are the sources of acquired funds.

How those funds are used are ASSETS

So, when cash is lent out via a loan -- the LOAN becomes the asset as the loan consists of the money lent + the money that will be repaid with interest.

As a general rule the person who lends the money is looking for a return on their money with interest. The lender/bank/whatever makes their money on fees for originating the loan.

Now read this from this press release:
Fvndit, Inc. (“Fvndit”), a California- and Vietnam-based fintech company, today announced an investment of thirty-million dollars ($30M USD) for debt financing led by Accial Capital, a private debt investor in tech-enabled loan portfolios in emerging markets, and Variant Investments, an innovator in alternative income investing.

Its non-dilutive because:

A: the money was not deposited with VMNT
B: its debt financing where the lender expects his money to be lent out and returned with interest.

the news is more about FVNDIT than it is about VMNT. That is why the seperate press release WHICH MAKES ZERO MENTION OF VMNT

[as a former MLO and hard money lender I know how lending works]

It's easier for rich man to go through the eye of needle than it is for a camel to get into heaven.
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