“CEO Brian Foote purchased $10,000,000 worth of stock or 318,000,000 shares directly out of the market to a new class of preferred shares.”
He did not spend $10 million. It was closer to $32,000. They were using the closing price of the stock the day before that PR to come up with that value. He had bought the stock earlier than that likely during the front loading when it was $0.0001. Also he HAS NOT converted them to preferred as the fact the OS has not dropped by another 318 million after the 551 million reduction.
“The company issued 500,000,000 in warrants at $.10. These warrants can be exercised within 2 years.”.
Incorrect. The company issued $50 million in warrants of which half were purchased by FORW. We don’t know for how much. But the tweets by Sharp suggest that the strike price was $0.05 for a total of a BILLION shares.
“This will enable HUMBL to use the $50,000,000 in cash to market their product and roll out their app.”
FORW doesn’t have anywhere close to that amount of money to pay the strike price. They had 0.5% of that in their last financial sport. Besides the warrants probably have a cashless exercise option which would result in $0 going to the company.
“It’ll also protect the company from dilution and future dilution as the man who set up the TSNP and HUMBL merger is in control of those 500,000,000 shares and he will always be in the best interest of HUMBL and their shareholders.”
No dilution? LOL....the raised the authorized shares on Friday by close to 2.5 billion to 7.495 billion. Dilution is coming.
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