Yes, well a leopard never changes it's spots.
Fact is, Toby McBride used the same names when he scammed investors in High Performance Beverage (TBEV)
Now, instead of a sports drink, it's an unproven performance water.
Now, a lot of people lose money in a stock and say they were scammed because the company couldn't live up to the potential. That can happen when you speculate. Sometimes, even with the best of intentions things don't pan out. But, that's not the situation with TBEV shareholders. They were actually scammed by the SAME two individuals who are the principles of Takeover Industries.
My definition of scam in TBEV's situation is a combination of cooking the books in order to live a lifestyle with working capital raised on toxic debt, that at the very least, should have been invested in marketing and inventory, not new cars, motorcycles and excessive vacations. The CEO reaching out to shareholders and selling his PERSONAL SHARES at a discount to line his pockets while leaving the company with a slew of lawsuits and judgements, rendering the shell completely worthless to this very day.
That said, let's take a look at Takeover Industries....
The company was formed in January 2021 with the same principles that torched TBEV. So the corporation is not even two months old. They are a "pre-revenue" company with zero assets and only a business plan to market an unproven product. Normally, when you acquire an asset you do due diligence on the management coming in to take over the company, but it doesn't look like any was done.
Additionally, at the time of the acquisition, LTNC was trading at .035 cents. With 6 billion shares issued that equates to a $210 million valuation.
In what world does someone value a business plan with this management at $210 million?
Now, l understand Mr. Schadel said the company doesn't plan on diluting the company or reverse splitting but guess what? He is now only an advisor with zero ability to make decisions on how the company plans on raising capital.
Has anyone stopped to think how the company is planning to generate working capital to pay for supplies, inventory, marketing, endorsing athletes and......EXECUTIVE SALARIES?
And like a page out of Toby McBride's playbook... He uses contacts and his networking ability to sell the dream. He did the exact same thing with TBEV selling the potential of Alex Guerrero, TB12 and Tom Brady possibly having something to do with the TBEV.
By the way, Mr. Guerrero has been linked to several failures outside of TB12 and his stellar relationship with Tom Brady.
I mean seriously, who would attached their name to a company that was just created and run by people who have a consistent track record of failure?
By the way, you want to know how smooth Toby McBride is? Just ask Dan Bilzerian with his Ignite beverages brand. Toby got him really good! I would love to hear what Dan would say to anyone who brought up Toby's name!!!
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