Bantek Inc (BANT)

[IsBannonStealing]

Gotta give Mikey credit!!

-he's been able to extract a salary for 8 years
-he's paid himself back with interest on his startup capital
-he avoided major litigation when TCA folded (he indeed would have been sued) and then ended up buying the loan for pennies on the dollar from the receiver!
-he stiffed the owners of Howco $900K + interest on an acquisition and got away with it; because he owns the TCA loan which is senior-secured, he doesn't have to pay the owners a penny until his loan is paid (he decides when that is lol) because the Howco loan is subordinated to the TCA loan
-he waged 2 unsuccessful lawsuits against former employees that I'm sure were meant to harass them and cause financial/reputational harm. The company paid for legal fees and settlement proceeds!
-he's found the ultimate cash printing loophole - convertible debt and there's nothing the SEC can or will do.

All of this while shrinking sales from $25M--> sub $3M and running an extremely unprofitable company.

Congrats Mikey Boy! Credit where credit is due. This Thanksgiving Michael should be thankful for his shareholders who keep funding his wins!!