THEN:
On November 24, 2017 ZEN (AE) announced it was seeking $1,000,000 in funding through a non-brokered $0.65/share Private Placement
Three and a half weeks later, on Dec 19th, ZEN announced that it had only been able to raise $463,500.
AE could not raise a million dollars in 3 and a half weeks at $0.65/share
This inability to raise the required funding was seized upon by Team Yellow and became the main justification to remove AE and 3 others from their BOD positions.
NOW:
On Oct 3, 2018 ZEN (Team Yellow) announced it was seeking $1,000,000 in funding through an "ARRANGED" non-brokered $0.45/share Private Placement.
Same amount as Nov 2017 PP - $1,000,000 - But this ($0.45/share) PP was more than 30% below the Nov 2017 ask of $0.65/share and it was already "ARRANGED". Easy Peasy - Right?
Remember that Choo-Choo himself stated that
“.... we’ve been approached by a few large shareholders, several brokerage houses and a company in Europe that are all interested in funding Zenyatta as long as there’s a new board.”
And yet more than 5 weeks after the Oct 3 NR, nothing but crickets.
Is another group of dissenting BOD wannabes standing ready to condemn Team Yellow the same way that AE and his group were? Will they take over and then attempt an unsuccessful $1,000,000 PP at $0.25
Perhaps it is time to step back and look at the big picture. AE could not raise funds for ZEN. Team Yellow appears to be having the same problem.
Could there be a reasons, other than individual incompetence? Why won't any of the normal funding entities give ZEN money, even at $0.45/share?
Reason 1 (new):
The flock cried out for AE's head after he was removed from his ZEN BOD position by Team Yellow - Team Yellow decided that AE was no longer President or even an an insider-
- even though AE was (and almost certainly still is) ZEN's largest shareholder.
- even though AE had a signed contract that specified when/how/how much money he was to be paid if he was removed from his position(s)
AE is now in a position to apply for a lien on any funds raised by Team Yellow until his payout is complete.
Reason 2 (old):
Nothing in the ground has changed - It is still under a small mountain of overburden. It is still difficult and expensive to purify. ZEN has declared High Purity as being "impractical".
If YOU were a lender, would YOU consider ZEN a viable investment?
A Gong Show Run By Clowns!!! |
