Branson

@ertuchinski Yes, the CEO is a liar!

$FRMM anyone new looking at this as an obvious value play needs to realize, when people were touting this in the $30s I knew it was overvalued. Then it hit below $15 and I entered thinking it was trading below 50% liquidation value. Little did I know that this will never be a value play because CEO McAndrew Rudisill is a conman. This was never about a legitimate business. It's always just been a giant scam. You've been warned.

@ertuchinski McAndrew Rudisill is a scammer.

$FRMM sub 2.00 McAndrew Rudisill is a crook. That's a fact you can take to the bank.

@billgrass1 This CEO is incompetent and a fraud; judging by his actions, he relies on deception to sustain himself.

What is happening to FRMM’s stock price is beyond absurd! Yes markets are inefficient but are they this inefficient?!! I mean FRMM has cash per share of $5, which is double the current price, and this does not include the investments, the value of RWA already purchased and the 12K of eth. Conservatively this stock is worth at least $8!! What the hell are you doing Rudisill and your incompetent (?) gang?!! BUY BACK SHARES…. FOR GODS SAKE!! OR SELL THE BUSINESS!!Unbelievable!! @ManningCapital_ @capybaraReborn @coins @bpemble @DamianBrad24715 @baker41771 @forummarkets

@puppies_video 👍

15 years of bad luck for anyone who doesn't say hi.

@billgrass1 The CEO is full of lies.

And here is what he said about buying back FRMM’s shares👇 “We weigh that between putting capital to work and buying back stock, and I think right now it's more important for us to get the revenue ramping at a very fast pace, so we have to allocate the capital into buying the physical assets versus buying the stock. I think, I mean, obviously the stock is at a huge discount to where the physical, like to the balance sheet assets, but we need to deploy the balance sheet to get the revenue and cash flow spun up.”

@billgrass1 The CEO is a fraudster. The company keeps changing its name and business lines—pulling new stunts to dilute shareholder equity and hollow out investors' capital. This CEO cannot be trusted; he is a scammer out solely to fleece investors!

At the Sidoti small cap conference held on March 18th, the CEO of FRMM was asked why the stock price was so far below NAV. The transcript of his answer 👇 “I think it has a lot to do with Ethereum, and I think that obviously Ethereum's gone down quite a bit since we did the original offering. It was a large percentage of our total balance sheet. I think a lot of initial shareholders who got into the deal after the first PIPE came out pretty early. We've gone through both a shareholder rotation but also a bear market in Ethereum. I'll highlight that we have been gradually reducing our Ethereum exposure over the course of the last couple of months as we've executed on the real-world asset tokenization, and we're likely to continue to do that as we allocate more capital in the US dollar. I think we should start to decouple from the correlation with Ethereum, which has put a lot of the impact on the stock price. You've got a lot of fundamental investors that are not digital asset investors that just won't invest in companies that have digital assets on their balance sheet. I think the value in our business is obviously the cash flow and revenue that we're generating by executing on the tokenization of the blockchain. This correlation with Ethereum has had a huge impact on the stock price over the last couple of months.” @ManningCapital_ @capybaraReborn @Coins @DamianBrad24715 $ethz

@billgrass1 @ManningCapital_ @capybaraReborn @Coins @bpemble @forummarkets @fundstrat This CEO might be a fraud!

Maybe the best and only solution for us long suffering shareholders of FRMM/ETHZ is BMNR and Tom Lee gobble us up! @ManningCapital_ @capybaraReborn @Coins @bpemble @forummarkets @fundstrat $ethz

@billgrass1 yes

Based on today’s action ETHZ is still trading as like annETH Treasury company. All the major ETH treasuries are trading higher, with BMNR up more than ETHZ in %terms. The market is giving ETHZ no credit for its token business or is unaware of it. I hope management ups its PR game, besides relying on tweets and a few news releases. Get on TV, like Tom Lee of BMNR. That guy lives at CNBC! Relentless promoter!! @ETHZilla_ETHZ @ManningCapital_ @capybaraReborn @Coins

@ertuchinski @ETHZilla_ETHZ Yes, that CEO is an idiot and a liar.

I've closed my $ETHZ position. I've lost so much because of that piece of shit CEO Rudisil is a lying incompetent asshat. I will be leading the charge with a lawsuit because he's a fraud. I will get me recompense. Bet on it. @ETHZilla_ETHZ

Happy New year

@capybaraReborn @SECGov The actions of this company's management are incomprehensible; they completely disregard any suggestions from shareholders and don't communicate with any shareholders in the stock market. It's truly baffling.

@capybaraReborn @ETHZilla_ETHZ The actions of this company's management are incomprehensible; they completely disregard any suggestions from shareholders and don't communicate with any shareholders in the stock market. It's truly baffling.

$ETHZ backstabbing its shareholders is now a canon event. @ETHZilla_ETHZ destroying $20/share in NAV in under 3 months is by far the worst DAT performance since DATs were created. Rudsill and his team have failed all tasks of their fiduciary duty and have been too stubborn to listen to advice from any shareholders. This is a company with all ingredients for success destroyed by self-dealing, poor financial management and failures of corporate governance. In my mind, I don’t understand how anyone would want to be associated with this management and not resign. Eventually the corporate veil will be pierced and individual responsibility born for these grave mistakes in management. Given the amounts lost by PIPE investors, expect moves in Q1 by large holders. My buy offer still stands for 100% of the company at $8/share. Although like every way out we’ve give Rudsill, I’m sure he’ll ignore that too.

@SurrogateCap ETHZ has lost a lot of trust. The direction keeps changing, and it's unclear what's true and what's false; people no longer dare to trust the company's management.

@baker41771 @capybaraReborn @ETHZilla_ETHZ I also own some shares.

@SurrogateCap @ETHZilla_ETHZ @M_A_Rudisill Their actions are simply unbelievable!

@capybaraReborn @ETHZilla_ETHZ It seems like a fraudulent company.

Let’s recap what happened at $ETHZ This summer @ETHZilla_ETHZ entered the market through a PIPE deal, putting near half a billion dollars on the balance sheet of a failed biotech company, giving it a new life. Amongst investors, Peter Thiel, Electric Capital, Cyber Fund and a long list of sophisticated shareholders. The mission was simple, have a 3-way value prop, an Ethereum DAT, invest the ETH into a profitable DeFi business run by @avichal and build an RWA tokenization business on top. For a while, $ETHZ tracked other DATs and then came the deal with Hudson Bay, putting an extra $350m as restricted cash on its balance sheet. The idea was to raise a lot of assets in one go if ETH were to go up. It didn’t go as planned and Ethzilla paid a heavy price, $87m or about 1/4 of it assets. The initial deal was negotiated horribly and the negotiations to get out of it were even worse. But what came after was what truly killed the company. Seeing the DAT business was gone, Rudsill and management started making last ditch attempts to salvage value by making speculative bets on startups that were extremely overpriced, in order to attempt to raise more funds. No one will ever know what went on in their head at that point and why they didn’t just stop the bleeding there. But they didn’t, and destroyed another 1/4 of value at the same time through those. Instead of owning up to their mistakes, they doubled down on wrong moves and increased losses further. Now they are about to do it again by leveraging their balance sheets to acquire RWAs and earning money on the spread. That means they are one bad deal away from wiping out shareholder value all together. And so far there’s not one deal that they would have done right. If management were to just stop what they are doing, revert the startup deals and resign and/or liquidate the company, the stock would recover to $15-16/share. However Rudsill appears dead set on running this company into the ground instead of owning up to mistakes made. Not unlike a pilot that won’t eject when the fighter isn’t responding anymore until it crashes. Ethzilla could have easily been an incredibly successful company. All the ingredients were there. Sadly Rudsill decided to just throw them away. I still remain an $ETHZ shareholder as at current prices I believe it is dramatically oversold, but 10-12$ per share appears a range it won’t cross. I will suspend my day to day commentary of $ETHZ as I believe it is no longer needed. Hundreds of millions lost by PIPE investors will be enough to get them to resolve this situation, but I don’t think it will be quick.

@DamianBrad24715 The ETHZ CEO seems like a scammer, running a Ponzi scheme!

Can't wait until $ethz goes to $2.20.... My initial pre split price! When it does, I will buy like crazy, Average way way down and get out when it eventually has a green day. I mean, it's bound to have a green day, isn't it ? $ETHZ What have you done ?

@BizarreStocks @DamianBrad24715 I'm extremely disappointed in them; it really seems like a scam. It might actually be a scam. The manager knows the truth best!

@DamianBrad24715 These 6 points are simply the only way forward for this company

$ethz The only relative words that can come out of Macs mouth now are... 1 - Im stepping down, 2 - Im renegotiating the deals, 3 - Im aggressively buying back to nav as promised or buying eth at 3k after selling at 4k. 4 - We made a catastrophic mistake with Hudson Bay and will do everything we can to make up for it, starting with a pay cut across the board. 5 - We are cancelling any warrants gifted. 6 - Our sole focus will be returning shareholder value before we get ahead of ourselves and focus on the toxinization business. Everything else is just a meaningless sales pitch. @capybaraReborn @avichal @bpemble

@DamianBrad24715 @capybaraReborn Yes, something is definitely wrong. The company policies keep changing, but always in the opposite direction, which is hard to believe!

@capybaraReborn It certainly does! It's that or they are trying to sell us an idea thinking we are idiots. Something is off anyway!

This letter essentially has 0 information outside of being a recap of the items discussed on this feed. Absolutely no rationale has been given as to how it was arrived at these crazy valuations for startups or why they were necessary. They essentially right out and say they are planning to sell ETH to invest into assets they will tokenize. They also fail to actually deliver any hard data on anything, don’t take any accountability for the mistakes they’ve made and in my mind are in a state of delusion here. @ETHZilla_ETHZ / this has been an utter case of shareholder value destruction for all involved. In the end, shareholders won’t let this happen. It is time for an immediate change of leadership.