The past management, specifically William Donovan failed.
That is old news.
The new management, specifically Benjamin Tran has only did one thing from a corporate perspective, and that was award himself many, many and I mean many shares.
I am old-school capitalist which means that you have to prove yourself worthy before being rewarded with shares.
People that award and reward themselves pre-success and individually are pre-destined to fail.
I am wondering if Benjamin Tran spent cash to buy SPIN and figured he would award himself millions (billions) of shares and sell those shares over time and take stock loans, even at pennies per share because the investment for him personally is still profitable, but that profit would come on the backs of individual investors buying the stock on the open market.
To use simple calculations - Mr Tran spending $350,000 to buy SPIN when it was 14 cents a share is an investment.
Mr Tran giving himself 1 billion shares means he can sell or take a stock loan at just 2 cents aa share gives him $20 million dollars.
Yes that is correct - 1 Billion shares at 2 cents a share is worth $20 million dollars.
Obviously he would want more than 2 cents a share, but after he takes in some convertible notes and gets millions of shares trading daily, he will be able to sell his shares, based on percentage he is allowed to sell based on liquidity and trading volume, he can net himself a nice personal profit.
If I am wrong about the 1 billion shares and its only 500 million shares at 2 cents, then its only a $10 million profit.
Whatever the real number is, or will be, is meaningless. He awarded himself many shares and now we can see what he does with the company
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