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