Eagle
A business model to cheer for: drones, agriculture, millions of acres, fifty countries, fifty-three crops, hemp overview for Florida and Iowa, data capture for nutrients and chemicals, and a contract to develop a drone delivery platform for a startup of wounded warriors. Market cap of $600 million and $30 million in cash on the balance sheet with 60 million shares outstanding and 5 million converts waiting in the wings for dilution.
The rub is that the investor, Alpha Capital Anstalt, Lichtenstein, has a history of cameo appearances with a cast of capital market suspects that inflate shell companies to pass gas on unsuspecting investors advised by a law firm, Loeb and Loeb, that provided great background in the China Hustle.
Insiders are selling with abandon at over $5.00 after converting under $.50 presumably not confident that the operating cash flow needed (at least $50 million) to sustain a $550 million market cap will be conjured on current revenue of less than $1 million a year.
Nesting in note eleven to the 10q is the disclosure that Eagle lent Valqari $500,000 on 14 October 2020 so that Valqari could contract with Eagle on 14 October 2020 to develop the Valqari platform. Makes perfect sense somewhere. This tidbit comes right after compensation, severance, and related party admission for current and former executives that fling contracts and cash flows through SEC filings like Carson Wentz interceptions.
Alpha has at least sixty-three other morsels in its form 13 filings which should be better than the movies at an hour a toss to unravel.
SPDR, Vanguard, and Fidelity have a few million shares between them and the rest are circling the lake in Vaduz.
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