Futuris Company (FTRS)

[Gnarlyman]

I will say I question why RCRT attached themselves to FTRS. My research into the RCRT filings brought me here to begin with so I’ll try and explain. This is extremely speculative, so don’t take this as investment advice.

RCRT is buying GOLQ so they can uplist to Nasdaq. RCRT plans to spin out the remaining assets of their recruiting business into AESO (CognoGroup). At the same time they sold the Recruiter.com brand and contracts to a company called JobMobz.

Due to the debt arrangements RCRT has with a fund called Montage II, LP they cannot complete most of this until JobMobz completes their initial payments by Nov 1, 2023. If and when RCRT receives this payment from JobMobz, Montage will unlock several key things so RCRT can complete their initiatives.

1st- Completion of the GOLQ purchase. RCRT will hold 80% of the existing shares until GOLQ meets strategic revenue targets in which they will receive shares for each target met until eventually they have the total 84% share stake. This will leave RCRTs spin out AESO presumably as the holding company for 16% of the remaining RCRT shares.

2nd- JobMobz is paying RCRT/AESO for the brand $1.8M cash (presumably to pay toward Montage debt for the unlock)
Plus 10% preferred shares of JobMobz
+ 3 year profit sharing and services agreement. The JM CEO seems super exited to be getting these assets so the deal seems solid IMO. See his LI profile. He is now listed as incoming CEO of RCRT.
https://www.linkedin.com/in/jessetinsley?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

3rd- Enter the FTRS purchase. RCRT/AESO already received 9.5M FTRS shares and is supposed to get up to $2M in profit share monthly payments.

All of these strategic moves is IMO designed payoff the $5M in Montage debts by way of direct payments from the JM and FTRS deals. Basically CognoGroup (AESO) appears to be the holding company for all these asset swaps /agreements. If it all executed properly AESO will be debt free in a hurry and has some decent revenue projections and plans for their remaining assets /tech.

Obviously this is all an interpretation of the RCRT filings but it’s all filed with the SEC so I give it IMHO a pretty good shot.

Lastly, I’m considering this as a potential backup plan as well. If the GOLQ deal happens to tank for some wild reason, it is reasonably possible that RCRT linked themselves to FTRS as a backup candidate to take over the NASDAQ shell. This may be why FTRS seems to have a renewed push and keeps stating 60 Days for Audits. They can’t be the backup without PCOAB audits. If they have them ready and the other deal fails, it could be an instant jump for them to NASDAQ if RCRT has to act quickly. Below is why I am speculating this possibility.

Miles Jennings and Evan Sohn have already spent considerable resources and time setting up their exit from the current RCRT shell. Why, IDK, but I assume their more interested in the AI space based on the assets they are keeping for AESO (CognoGroup). They have a LI page called The Artificial Intelligence Exchange. A lot of their post in there circle around AI technology will probably push out and replace the current Human Capital staffing market. So I think they are placing their bets there. Evan Sohn is CEO of Bain & Company’s subsidiary AuRA (AI Data tank) if you don’t know what Bain & Co is go look. These guys want to focus on AESO, and I don’t think they really give a shit who gets the NAZ shell at this point as long as they get out of it with some sort of side holding.

I emailed Miles to see if he was concerned with the Doki connection here and he basically responded with a “No”. This helped me decide to linger here and see what happens. But, also makes me think FTRS may have a renewed drive to have Audits ready in the event an opportunity arises.

Take all this how you chose, but don’t based your decisions on my thoughts surrounding RCRT / AESO / GOLQ / FTRS or JobMobz. It’s just a puzzle I’m trying to piece together.

For the record my main holding bet is on AESO.

(This is highly speculative and by no means meant to be investment advice)