Totally valid concerns. Here’s my take for what it’s worth. Please critique.
They own majority interests in their investments. As 51% or more owners they incorporate 100% of the subsidiaries’ financial activity on their books though they really only have ownership of 51%. the revenue doesn’t go to EXXE, it goes to the sub. the sub uses it for operations unless deemed available for dividend/distribution which is unlikely in a company with growth potential. Are you following? So the books look great but the company only owns interest in the companies and that activity makes up EXXE’s financial statements. EXXE probably doesn’t have much money and what they do have they use for administrative, legal, and PR expenses hence the issuance of debt for growth.
Investors needs to understand that the books look better than what is
actually owned by EXXE due to GAAP’s prescribed accounting treatment of investments, this is called the consolidation method and is required.
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