Bots Inc (BTZI)

[lesgetrich]

Class A shares were used to purchase the patent assets.

WTF are Class A shares??? You make it sound like some nefarious premium was paid for the patent. In reality, the entire acquisition of assets was paid for with 100,000,000 common shares or BTZI and 30,000,000 Series A Preferred shares (which are convertible into 10 common shares per 1 preferred share). This effectively transferred control of the company from Paul Rosenberg to the management of First Bitcoin Capital. The total price for all of the assets minus the liabilities acquired was roughly $10 million in BTZI stock. The value assigned to the patent was only $308,750.

From the recent 2FQ2022 10-Q...



The entire transaction was designed to transfer control of the shell of mCig to the management of First Bitcoin Capital, thus giving a fresh start to both MCIG/BTZI and BITCF and salvaging both companies. Instead of being condemned, Paul Rosenberg should be credited with preserving value for the shareholders of mCig/Bots. Can any of you think of a better alternative for the company's shareholders? I doubt it.