Cemtrex Inc (CETX)

[lucky2505]

Digging into today’s press release was very informative and shows Saagar Govil indulging in his usual hyperbole. Let’s break down some quotes from the pr and compare them to reality.

Partnership With Leading 3D Content Development Platform for Virtual Reality to Expand Cemtrex’s VR Portfolio

Well, Masterpiece Studio isn’t exactly a “leading 3D Content Development Platform” (It only became available in December 2019) and MasterpieceVR is a small, struggling Ottawa startup. Here is the company CEO begging for money In January:

"We have tried our best to stay at a low cost for as long as possible, but the VR market is still small today……….I understand that you may not want to support us in any way……….but if you do, I would be honored for any way you would be willing to help make this dream come true."

Due to the competitive nature of the transaction, financial terms were not disclosed by both parties.

Or, as is more likely, financial terms were not disclosed because the sum of money that changed hands was too small to impress would-be suckers.

Currently, creative professionals worldwide are challenged in creating even basic 3D visual content because existing software is too complex and slow to use, creating a significant unmet market.

Hmmmmm, now what was it MarketpieceVR’s CEO had to say about that? Oh, yeah…….”the VR market is still small today”.....

MarketpieceVR is a leader in the space…..

Hmmmmm, and what was it MarketpieceVR’s CEO had to say about that? Oh, yeah…….”our life savings we have already invested are not enough”.....

Cemtrex completed the minority equity investment in Masterpiece Studio in November using existing cash on hand.

And there is some of the greatest hyperbole of all. Read the Cemtrex press release and read MasterpieceVR’s A Message From Our CEO. The mini Govil didn’t say Cemtrex made an investment in the company MasterpieceVR. He said it made a “minority equity investment in Masterpiece Studio” which probably only means that Cemtrex bought a few copies of the Masterpiece Studio software. Oh, those crazy Govils! They will say or do anything to make a dishonest buck!!

https://finance.yahoo.com/news/cemtrex-makes-strategic-investment-masterpiecevr-141000252.html

https://www.masterpiecevr.com/blog/ceo/