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]