Icoa Inc (ICOA)

[Perfectson]

Where are the revenues going to come from.


BGBF - AUM is 5,000 bit coin - not sure how many clients they've signed up and we bought them for $240m? this doesn't seem right. Assuming full AUM 5,000 BTC ends up being $300M. Let's say 2% management fee would mean $6m in revenue.


IBF - token is down heavy. So if thats any indication of usage, this isn't something anyone is looking at. Down from $1.50 to .17



so I question the revenue being created from these acquisitions and the valuation of this with $47m market cap , with very little revenue and no cash seems excessive.

This should be close to 1x or 2x of revenues at this point. BGBF revenue has a cap (unless bitcoin explodes) and IBF looks like it lacks any real product that excites the masses to bring in revenue.

Edit:

On top of this, they use restricted preferred shares to make the aquisitions and those terms were not identified in the financials. Most likely these will be heavily dilutive in nature