So the company has $24 in tangible assets (not buying the $1,300,000 unknown property asset). Has a $24 pre-money valuation, and with a $50 million capital raise, expects to have a $175 million post-money valuation?
Really, who comes up with this chit?
And anyone with $50 million to invest really wants to invest in a no experience, no accounting (clearly those financials are atrocious), no B Plan, no Pro Forma, no payback, no exit strategy.............and...................a 71.5% dilution factor.
Yah, a person with $50 million attained $50 million by not watching an idiot on youtube.
$50 million becomes $14 million instantly and no control of the board of directors and the risk of future dilution.
Who buys this chit?
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