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by mikekchar 2653 days ago
Just a bit of reading between the lines (from your previous postings ;-) ): Yeah... I wouldn't touch those shares with a ten foot pole while wearing a hazmat suit (the goggles, they do nothing!)

Unless I'm inter-line-reading incorrectly, the company raised $1m giving away 50% of the cap table. They ran out of money and pivoted. Loaded labour rate of about $150K initially I guess... Then raise money from an ICO -- must have been something around $3-4M given the 15 employees now. That money is gone. Originally 2 founders, now 3 (cap table is shrinking). I think there is no way at all that they will be able to raise money. Even if they sell the IP, it will be a fire sale.

This is not financial advice. I am not any kind of financial expert. I can't tell you what to do. I might be entirely wrong, but I don't see recovery at this stage, no matter what the business is.

1 comments

LOL. loved your comment! You hit the spot with your assessments and thanks for doing the research behind it. I think I should probably run best and worst case scenarios with the cap table alongside me. I agree that from the looks of it, it's pretty risky.