Replies to post #153629 on TAP Real Estate Technologies Inc (RWAX)

[Huggy Bear]

Hilarious 😂😂😂

[jimr1717]

Oh but anyone that was fortunate enough to have sold is extremely happy today.

[Major Profits]

"That's not accurate!"

So, for the heck of it, I decided to ask Gemini a couple questions about their report:

1) "Was Hindenburg HUMBL report proven correct?"

AI Overview

Based on subsequent events, including lawsuits and the significant decline in HUMBL's stock price, the core allegations of Hindenburg's report were largely proven correct. Hindenburg Research published its report in May 2021, titled "HUMBL: Illusions of Grandeur, Collapsing International Deals, and an App that Doesn't Work," exposing serious issues with the company.

Key claims from the Hindenburg report

Non-functional products: Hindenburg alleged that basic features of the HUMBL Pay app, such as sending and receiving money, were not functional months after the company had claimed they were completed.

Failed international deals: The report detailed how key international deals that gave HUMBL legitimacy and hype had either fallen through or never materialized. For instance, a deal with Digital India Payments never moved forward, according to the contact person Hindenburg interviewed.

Misrepresented partnerships: The report found that many merchants listed on HUMBL's platform were not actually using the app. Some had not even heard of HUMBL when contacted by the researchers.

Unsustainable business model: Hindenburg highlighted the fact that HUMBL was still relying on other payment processors like Stripe for the few merchants who were accepting payments, contradicting the company's claims of disrupting the payments business.

Massive share dilution: A crucial revelation was that preferred shares issued to insiders could convert into billions of new common shares, significantly diluting existing shareholders.

Aftermath and vindication of the report

Stock price collapse: After the report and subsequent company disclosures, HUMBL's stock plummeted from a high of $6.84 during the class period to fractions of a penny, effectively wiping out the value for many investors.

Shareholder lawsuits: Multiple shareholder class-action lawsuits were filed against HUMBL, alleging securities fraud. The complaints mirrored many of the claims made in the Hindenburg report, including misleading statements about products and partnerships and the sale of unregistered digital securities.

Executive stock sales: Executives profited from inflated share prices and then sold off holdings following the expiration of insider lock-up periods, leaving retail investors with substantial losses.

Failed products and recovery efforts: As alleged, investigations confirmed that the company's products did not function as advertised, and despite requests to dismiss the suits, the company's failures have been consistently substantiated/

Also, to be fair, I asked this question:

(2) "Was Hindenburg's HUMBL report proven wrong?"

AI Overview

Hindenburg's 2021 report on HUMBL was not proven wrong. Subsequent events, including a shareholder class-action lawsuit and HUMBL's declining business, have largely corroborated the short-seller's claims
.
The report, titled "HUMBL: Illusions of Grandeur, Collapsing International Deals, And The World's Most Expensive Zebra Donkey," was published in May 2021. It alleged that HUMBL misled investors with unsubstantiated claims about its technology, partnerships, and prospects.

Evidence supporting the Hindenburg report

Share dilution: Hindenburg accused HUMBL's executives of misleading shareholders about share dilution, stating that new preferred shares could convert into over 5.5 billion new common shares. In a prior tweet, the CEO had only offered personal assurance he would not sell his shares, without addressing the overall dilution risk.

Non-functional app: Hindenburg's testing found that the core "send and receive money" features of the HUMBL Pay app, which had been presented as functional, were not working at launch.

Fake partnerships: The report detailed how HUMBL publicized international deals that were non-existent, had collapsed, or were with partners that had no online or physical presence. The report specifically debunked a promotional video featuring a zebra donkey, which served as a symbol of the company's misleading promotions.

Business failure: Since the report, HUMBL's business has floundered. In 2024 and 2025, the company's financial filings disclosed zero revenue from continuing operations and a net loss, even as it pivoted to being a holding company.

Aftermath for HUMBL

Stock price collapse: Following Hindenburg's report, and as more issues came to light, HUMBL's stock price plummeted from a high of $6.84 during the relevant period to less than a cent per share.

Shareholder lawsuits: Multiple class-action lawsuits were filed against HUMBL on behalf of investors who lost money. The complaints alleged that HUMBL executives made false and misleading statements about the company's business, including its technology, partnerships, and financial prospects.

Leadership changes: The founder and CEO, Brian Foote, resigned in August 2022.

The weight of subsequent evidence suggests that Hindenburg's claims were largely accurate and proved prescient.

[I-Glow]

So where is the revenue from all of the HUMBL products?

Hindenburg Research's report on HUMBL, released May 20, 2021, contained false and contradictory claims. For example, it falsely stated that HUMBL had no functioning products, despite HUMBL launching BLOCK ETX products on February 2, 2021, and the HUMBL Pay app on April 16, 2021

.
I suggest you read the Hindenburg report and go through it point by point and post your DD to prove Hindenburg was wrong.

And HUMBL doesn't have any functioning products.

IG