OriginalCanesCanesCanes
All-ACC (#1 most reproted porster on CIS)
- Joined
- Feb 7, 2013
- Messages
- 35,302
Rooting for him to fail??? You're inventing that. I am LOOKING at his financial situation. His NIL commitments are deals committed to and funded by a division of MSPR ... Life Wallet. What DOES have a bearing on the viability of his company is the company's ability to produce a profit. I have no idea what John Ruiz has for annual income ... but the financials for MSPR indicate that it could be losing close to $60 million dollars for 2022 after having lost $33 million or so in 2021 and currently having in excess of $200 million in long term debt. That is a company that had total REVENUE in 2021 of $8 million dollars. Very unusual for a company with only $8 million in revenue to have over $200 million in debt. This is NOT a normal business start up or expansion. There are red flags (and red ink) everywhere ... and my concern is that in some manner it impacts UM negatively. I certainly hope that there are OTHER NIL options that come to the forefront soon so that other programs aren't using this company's poor performance as a negative recruiting tool against UM.
He was already in the red and paying NIL contracts before the “IPO” ***
Nothing has changed, other than now, due to the merger, there is a share price to be followed on the NASDAQ.
It is not uncommon in these situations for there to be operating losses year over year, many times for several years, before profitability is achieved.
Again, you are creating doubt about whether he can meet his current obligations.
And you have nothing to indicate that anything has changed with respect to that. Not a single fūcking thing has changed since before the “IPO“. He may or may not be successful in the long term, but to create this public doubt, when there is no reason to, it’s absolutely ridiculous
He may not be part of NIL in 2024, and that’ll be a bridge to cross if and when we get there, but there is nothing to indicate he’s going leave anybody presently in the lurch, and there’s nothing to indicate that he will void current agreements. Well, nothing other than people like you trying to create this maelstrom of negativity and doubt.
I have no idea why you continue to persist with this.
You are literally trying to create a vortex of negative doubts where there is none, but certainly rivals can use your ill informed words against us.
You’re the only one banging this drum here.
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*** I’m using IPO as shorthand for when the shares started trading. I know it’s not an actual IPO.