Sacks Parente Golf Inc (SPGC)

[Slojab]

Investing in an IPO can be tricky.

https://www.msn.com/en-us/money/markets/a-golf-company-with-90-000-in-sales-was-valued-at-400-million-its-stock-proceeded-to-crash-what-happened/ar-AA1gkQeK?ocid=msedgntp&cvid=70252375ae224aa5a0aabec3e2dc0a71&ei=89

The company’s prospectus states that it was only setting aside $250,000 of the IPO’s proceeds for the development of new products, while $1.85 million was marked for accrued compensation owed to executives, $584,000 to repay loans from related parties (in many cases those same top executives) and $477,000 to repay notes payable.