Don’t overlook the complete lack of due diligence on behalf of the original pub co. They had plenty of opportunities to ask questions, look at R3’s financial wherewithal, management, business plan, fund raising experience and even the necessity of them being a public company. What these geniuses did was lazily forfeit their fiduciary responsibilities to the shareholders. The only upside - if there is one - is that their ‘consulting’ shares are now as worthless as ours.
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