@retail_mourinho This company is bound to go under sooner or later, because they do nothing but squander shareholders' money without knowing how to deliver returns to them.
$NVDA CEO Jensen Huang says $MU, Samsung and SK Hynix are all “in production” on HBM4 for Vera Rubin
Nvidia now has all three major memory suppliers lined up for its next-generation AI platform.
The next cycle will create new millionaires.
These 10 growth stocks could be the ones:
$ASTS - Satellites
$RKLB - Space
$NBIS - AI Infrastructure
$IREN - AI Power
$ALAB - AI Hardware
$COHR - Photonics
$OKLO - Nuclear
$SERV - Robotics
$ONDS - Defense
$OSS - AI Servers
Save this.
I won't be surprised if he's in for serious legal trouble. The related-party conflict in this "transaction" is GLARING.
The previous PIPE deal already caused massive dilution. Now Bailey is layering on another (unfathomably) dilutive deal that enriches his own private entities. A pattern of self-dealing is hard to defend in court.
Bailey did everything he could to paper over this deal with bare-minimum corporate formalities and pre-approvals all the way back during the merger with KindlyMD, so public $NAKA shareholders would never get a chance to vote it down. Bailey can talk about "shareholder approval" all he wants, but no public shareholder vote was required because the call option was buried in the original merger docs.
Bailey diluted existing holders ~35%, and they get ZERO Bitcoin in return. Just a media company and a small hedge fund advisory. After the PIPE deal already nuked the stock 98%, this is textbook self-dealing. Plaintiffs' attorneys will almost certainly be circling soon...
The most likely legal avenue would be a derivative shareholder lawsuit alleging breach of fiduciary duty. I'm ready to see this a-hole burn in court.