When gasoline was extremely low during covid...Kevin pumps oil on his twitter
When oil is high, Kevin pumps Hydrogen.
The level of incompetence is astounding.
- Taking on loans and issuing shares far below market value.
- Not prioritizing proper assets
- Hiring his girlfriend to take on 'Hydrogen' (Go watch her presentation; What an absolute joke of a person)
- Constantly telling investors the new sets of loans were ABOVE market value, then financials showcase the truth.
- They could have done a share offering directly to the people...they only began to do that at the end of 2021...and haven't actually sold any of the offering yet TMK. Had they done this from get go, they could have about 1/4th the float, and about 4x the capital in their pockets.
1 of 2 things is true.
1.) Kevin got panicky because his old loans had high interest rates he needed to pay back. He took on every loan he could, even at horrible rates in an effort to keep his head above water. Accidentally fulfilling the definition of Ponzi scheme.
2.) Kevin knew exactly what he was doing. The loans only exist on paper, no money swapped hands. He then issues himself/friends a far greater amount of shares under the guise of paying off debt. In this way he can cash in until he hits his A/S limit, while blaming the debt.
There is reason to think it's option 2. Specifically how he continued to state they were taking on loans at rates above market value, only to turn around and provide terms at below market value.
It's intentionally deceitful, and if he'd lie about that directly, it indicates he's probably ok with lying across the board.
Lied about WRB as well, and outstanding debt.
End of day, pumpers and hopefuls will convince themselves his lies aren't lies, and that he has some grand plan. He does not, he's a con artist and if any opportunity arises in the future, he'll abuse that as well.
The only good news is that penny stocks don't rely on fundamentals for movement. They rely on pumps. Pumps don't care if the company is a scam.
