"...they'll raise $1M...?"
There is no THEY involved; there is only HIM. This is a one-man show.
Well, he tried selling shares via a PR yesterday. Apparently that didn't get far. So to get the needed money I would guess the next step will be a little death spiral financing via a convertible debenture.
He is always trying to acquire something. Then if he's successful, about a year+ later he sells that something at a big loss. Meanwhile he always manages to support his extravagant lifestyle. That's what this is really about.
Ultimately, our predictable CEO will just dump this pig and move on, buy another shell, and start over. Wash, rinse, repeat!
bbd
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