“ Brian Foote, responded to investor backlash by tweeting that he won’t convert his personal holdings of preferred shares until at least the end of 2022. He did not, however, offer the same assurances regarding 3 billion other shares, including those held by his family’s trust.
In the past year, faith-based go-public transactions such as HUMBL have brought the investing public an endless parade of risky companies that boast of all the things they will someday revolutionize.
Meanwhile, while investors are strung along by hope, and lulled into looking the other way, they face a literal reality of billions of shares becoming available to convert and sell.”
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