Do you really think this was a scam from the beginning?
Do you think all the way back to 2017 they had a plan to end it like this?
I can see raising the money they did in 2017 and basically over a few years, just pocketing it. That's an easy scam.
But to go the extra mile securing MZKR, working with the BC court, securing the new business HQ in Virginia. Playing on the pink, publishing the material they did....etc etc
I got data from Yahoo Finance. Downloaded it to a spreadsheet and played with it. Here are some thoughts:
No Volume until June 18, 2021. Then spotty volume until news of the merger got out there on September 23. Very low, but steady volume until Nov 23 suspension.
All summed 500,256 shares were traded from June 18 until Nov 23.
I multiplied the shares traded on a daily basis by the high point of that day. That totals to $17.3 million in shares sold for all days there was any volume. Somewhere on here it was stated the first shares went out at $2 each, so subtract a million to get them started and the net of all shares sold is just over $16 million AT BEST.
Again, this is wildly over-stated as all shares obviously did not sell at the high each day, nor did all sales, we have to assume, go to new money/third party investors, thereby generating a profit for the seller. You would think at times the right hand bought what the left hand was selling, just to bump the number.
Again, best they could have done is $16M, so let's say they could get half of that $8M when you work out all the individual share sales.
So for four years they work a scheme to net $8M??? There would have to be ten people in on it, many of whom have a solid standing in the community. How in the world would you get otherwise good people to take part in this? For less than a million each over four years? I don't buy it.
My point of stating all this, is really to ask again, do you think it is a scam? Or just a complete and royal cluster-flop by people who have no idea what they're doing? Perhaps they were in it to play a longer scam game, but tripped over themselves at this early point.
If it is a scam, the INSD team are absolutely horrible scammers and crooks. Beyond incompetent.
IMO - as a management team they're useless. They were not scamming, they had no idea what they were doing and led the organization down a path of disaster, breaking many rules along the way.
It's truly astounding how it got to this point.
Thoughts?
