HUMBL Inc (HMBL)

[Cinnyricinclus]

Hold on. I said Foote probably wrung $200 million out of investors. Some certainly for the enrichment of his family since the series B convertibles were owned by his family and others close to Foote, some certainly paid to Foote personally, some in hiring people, coding apps and acquiring unrelated and unprofitable businesses like Monster and Tickeri, some wasted. That money came out of investor pockets.

Your argument about "why does he still hold all of his shares?" is non sequitur. It doesn't mean he's not compensating himself well out of invested funds. Foote is the controlling shareholder and he alone decides how money brought in through dilution, is spent. The incoming money bottleneck is in wringing money out of investors, not finding new avenues through which to funnel money into his personal bank account. Foote already has a fully working path for selling shares to investors and for paying himself out of those funds. Which shares are sold on the market would make zero difference for him. Your argument doesn't hold water.