HUMBL Inc (HMBL)

[NoMoDo]

There is a lot wrong with your 80% theory. Start by looking at Foote's B shares and see how he categorized those. He broke them down into two categories - one was personal, one was for acquisitions. He found out that he couldn't create shares under his name for the purpose of share acquisition, so later, he PR'd that he was taking some of his own shares and "covering the cost." There are a handful of things you will learn from reading the details. His intention was to build a revolutionary product(s) based on blockchain and web3. He is in the process of doing just that.

As for the shares to his family, he was looking for financing to make all this stuff happen. The financing terms were for the most part much better than what he could get off the street. The exception was a $50mil potentially toxic funding from a company that his dad and sister owned a minority stake in. Not a majority. He got a lot of shit for that deal even though it probably would have saved about 4 bil shares from what he ended up using instead. That was Brighton.

Further, Foote's salary is a buck a year. This business may have started out with some really bad business decisions, but it is really hard to make a real argument that Foote scammed the shareholders and pocketed the income. If he - or his family actually sold a small amount shares early on, they would have been able to fund the entire project through profitability.