In December, the company dumped 3 million shares it held in a company called Numinus, netting $3.6 million.Īnd the company did receive some slight assistance from former President Donald Trump’s federal government, in the form of Small Business Administration and Payroll Protection Program loans totaling $1.2 million in US dollars. The company also made money selling off stock it owns. “This made the introduction of new products and maintaining an adequate supply of existing products an unprecedented challenge. “The new management team had to overcome the difficulties of operating during a pandemic and a crippled worldwide supply chain,” Bilzerian said in a statement. In addition to the lawsuit from former company president Curtis Heffernan, which the company responded to with a countersuit Ignite also cycled through executives. However Bilzerian plans to pay off those creditors, he did not say in a statement issued Friday, in which he called 2020 a “difficult transition year.” In this way, Dan Bilzerian as a businessman is existing as a sort of 21st-century king of debt. Moves like this raised the company’s accumulated deficit to $103 million, up from $83 million at the end of 2019. According to its audited financial statement, the company raised $3 million by issuing shares, and another $8 million through convertible debt and payable notes.
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