Sure okay right ..... For crying out loud the share structure is fine for a company with this much potential, this will go GLOBAL .
They have and will have more revenue... and will continue to rise in value, this year the CEO said he would hold back issuing shares and revenue is coming in.
It was a George’s doing as this was the shell that landed on his lap at the same time Brian approached him. Bad luck on the timing for Brian. But he was looking for Series A funding at the time and apparently ended up going this route with R/M instead. Being led to believe this was some novel way to get to Nasdaq.
George discusses it in the very beginning of their first webinar.
What else do you want us to know? We are finding that interoperability is critical. Financial services technologies will work across banks, cards and borders more cohesively in the future - and we are helping drive that. Other examples: Stripe merchant processing ($36B valuation, Plaid - $5.2B acquisition by Visa - plugin banking API's to apps). We take inspiration from these valuations. HUMBL is raising a $10M Series A on a $30M valuation and would value any leads. We make money through: a) transaction fees, b) processing fees, c) foreign exchange fees, d) lending fees and e) Master Agent - country rights sales. We are taking on 500,000 Western Union agent locations with new technologies and better splits.
——- Shocking he put such a high valuation on the company when he doled out those preferred shares in the beginning - and the app hadn’t even gone through beta testing. But whatever - what’s done is done and now shareholders have to deal with it.
George and his partner Louis Sapi made out like bandits on this one with those warrants. Sapi must be thrilled George cut him in on that deal!!
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