Devo182
"Well Known Member" TWSS
- Joined
- Jan 25, 2015
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He and his partner just lent the company $180mm to keep it afloat. Couldn't pay a bank it's current obligation.Still in better shape than a lot of spacs. Stock value may be down I’m not familiar with the particular company, if cash flow is good it may not matter as much. Also you would need to consider what the guys net worth was outside of that one company, I’m sure he’s somewhat diversified.
Organic cash flow is $0. They've never made a dime. All litigation prospecting. Which means time in court and no promises.
I'm sure he has a decent bit of other cash...but when you have $20b, throwing $50mm at recruits and expecting basically no financial return...wgas. But when you "only" have $500mm...well that's a whole different story.
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