Bit Brother Ltd (BETSF)

[LJ-Bodhi]

Knowledge is Power and the public documents tell the true BETS story, not fake ihub BS.

This offering was from July 2023. It's the "$50 million in cash" the dishonest pumpers keep referring to. Very OLD news and that money is gone and spent (I will show you exactly where it went):

https://www.otcmarkets.com/filing/html?id=16797453&guid=G3J-kp9g9u0sB3h

Ok, now notice on the very first page it's a "supplement" to a 2021 shelf registration to sell $200m worth of shares to accredited investors from time to time as the company sees fit. Then notice the stock price before the 200m share offering was 53 cents, but the offering was for 25 cents. Why? Because they doubled the OS with this offering with the snap of their fingers. Instant 50% dilution.

Let's be very clear. The company raised $50m with this offering. And spent it on very expensive miner equipment for mining farm #2. Here's the press release:

https://ih.advfn.com/stock-market/NASDAQ/bit-brother-BETS/stock-news/92702885/bets-announces-purchase-of-3300-units-of-s19-miner

Those 3,300 miners are around $5k each. Goodbye $16.5m. There is much more infrastructure that goes into a mining farm so property #2 has massive equipment capital being spent. How much? It's all in the financial documents. They carry a $50+ million liability on the books for deposits on equipment. It's right there in black and white on the Operating Statement:

https://www.otcmarkets.com/filing/html?id=16985231&guid=G3J-kp9g9u0sB3h#F20F2023_BITBROTHER_HTM_a_029

The precise amount is $54,091,570. It's right there for anyone to read. They are buying over $50m in equipment. That July $50m is long gone. How do we know this? Another dilutive offering:

https://www.otcmarkets.com/filing/html?id=17013896&guid=G3J-kp9g9u0sB3h

In October 2023, they gave out another 14m shares at 36 cents per to raise another $5m. Why, oh why dilute more for a mere $5m when you're flush with $50m in cash? It's all clearly disclosed. That $50m was for equipment and operations. Aside from bitcoin assets which they don't sell, BETS makes no real money to pay the energy bills or staff to fund operations. That's why they continue to dilute with offering after offering. How can we prove this? Easy, another offering in December 2023, just 2 months later:

https://www.otcmarkets.com/filing/html?id=17106008&guid=G3J-kp9g9u0sB3h

This one was for another 185m shares (another 50% of the OS) for a mere 6.5 cents a share. This one was for $12m in operating cash because all that other money is long gone. NO 50 MILLION in cash. Such an easily discredited LIE!

And that last prospectus very clearly disclosed this mining equipment is only good for 3 years. That's the industry standard. Easily verified. ROI is extremely challenging for newbie bitcoin miners. Equipment and energy are expensive. 3 year life on the equipment. Repair and maintenance costs along the way. Zero money incoming. Only a bitcoin wallet. How much?

Again, the company VERY CLEARLY discloses 12 coins/month per farm. That's 144/yr per farm, so assuming farm 2 goes online this month, that's 288 coins this year. Do the math. At $45k, the value is $13m. That's if the price holds after the halving event in April. They hope to have $40m worth of bitcoin in 3 years. Wait, they have about $6m already, so let's call it $46m. That's the value of the coins and does not factor in the 10s of millions in energy costs or the $50+ million in equipment that will be useless in 3 years. Don't forget their $10m+ overhead with 120+ employees. Ouch!! This company will have coins, but the stock dilution and share offerings to get the operating/equipment capital is brutal! No wonder they have so many social media pumpers claiming this is a "good investment."

It's a dilution stock scam. One last nugget from the last 20F annual report. They reported $24m in bad debt to a company that was supposed to get them mining equipment. Clearly disclosed. Poof, $24m gone like that. Great management, yes? That's why they carry an accumulated deficit of $92m. That's INSANE! AND 100% VERIFIABLE TRUE.

READ THE PUBLIC FILINGS!