TAP Real Estate Technologies Inc (RWAX)

[TenKay]

“CEO Brian Foote purchased $10,000,000 worth of stock or 318,000,000 shares directly out of the market to a new class of preferred shares.“

He said he purchased 318 million shares prior to Nov 17. We don’t know what he paid for them but it was significantly less than $10 million. That was merely a reflection of the value of those shares using the closing price of the stock on Nov 16 when the PR was written. If he bought them during the front loading he paid $32,000. Also he HAS not converted those shares to Prefs as the most recent share structure shows.

“The company issued 500,000,000 in warrants at $.10. These warrants can be exercised within 2 years.”

That was only the amount of warrants purchased by FORW. They were one of two buyers of the warrants. We don’t know what the purchase price (or consideration) was, we don’t know the strike price and we can’t confirm if there is no cashless exercise option. The “hints” we have from some of Sharp’s Twitter posts suggest that the total number of warrants was close to 1 Billion (which would comport with the room created in the AS to allow conversion) and that would put the strike price at around $0.05.

“This will enable HUMBL to use the $50,000,000 in cash to market their product and roll out their app.”

This is another misleading pump by the company. First, even under the most optimistic of scenarios the company would not see this money for a year at least. But here is the other reality, FORW doesn’t have the cash to exercise the warrants on a cash basis even if they wanted to. Just look at their balance sheet they only have 1% of that...lol. Where is the $25 million going to come from assuming they have half the warrants? And since they have not disclosed ANY details of the warrants one can’t confirm that there isn’t a cashless exercise option. Because if there is the company would see $0 when exercised.

Just typical stinkie pinkie deals between two non-reporting OTC tickers.