Dan Bilzerian is one step closer to going bankrupt, but why? whats changed recently? In this video I give an update on the Dan Bilzerian lawsuit and also update you on the Ignite International Q3 financials and how they stack up.
If you don't know much about the story so far, and you want a little recap, basically Dan Bilzerian recently dismissed the old president of Ignite, Curtis Heffernan, Curtis then went on to sue Dan and Ignite for wrongful dismissal.
This opened up a whole can of worms about how, he alleges, Dan uses ignite as a dumping ground of personal expenditure. For the 2019 financial statements of ignite we saw massive losses. These losses were echoed in the Q2 2020 financials and also appear to be continuing into Q3.
Turnover is down, profits are down, expenses are down marginally all leading to a sizeable loss. Cash is down, unsold inventory is up, there are unpaid suppliers, long term loans and more, its really starting to look like a bit of a mess.
Dan is having to continually support ignite with around $5m a quarter, can Dan continue to pump $20m into ignite forever? or will Dan Bilzerian go bankrupt?
Get a Free Stock worth up to £200 with FreeTrade - https://magic.freetrade.io/join/thomas/c8fb6869
Become a member on Patreon to get access to stock updates, private discord, livestream Q&As and 1-1 direct access to me - https://www.patreon.com/ThomasJamesInvesting
Buy bitcoin using Coinbase here - https://coinbase.com/join/smallb_1u?src=ios-link
If you enjoy these videos and want me to continue making more, consider becoming a member of the channel here; https://youtube.com/channel/UCRTndpz_fpcVcoVe0QF1IgA/join
Social media
Instagram - ThomasJamesYT - https://instagram.com/thomasjamesyt
TikTok - ThomasJamesYT - https://tiktok.com/ @thomasjamesyt
Twitter - https://twitter.com/Thomas_james_1
Subscribe for more related content - https://youtube.com/c/ThomasJamesPropertyInvesting
My Favourite Investing Books;
Rich Dad Poor Dad - https://amzn.to/3gqVJBW
The Big Short - https://amzn.to/2ExjIB5
The Wolf of WallStreet - https://amzn.to/2PgVeyo
The Four Hour Work Week - https://amzn.to/30hr3xe
Think and Grow Rich - https://amzn.to/2XkLyHg
Intelligent Investor - https://amzn.to/2BUqEYg
The Equipment I use to make these videos;
Camera - Canon EOS M50 - https://amzn.to/3225DVx
Microphone - Rode Video Mic Go - https://amzn.to/2F4C5On
Lighting A - 2x Softboxes - https://amzn.to/331O1IW
Lighting B - Neewer Ring Light - https://amzn.to/3309wda
Small whiteboard - https://amzn.to/2R6urW5
The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Thomas' videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.
This is not an advertisement of property for sale and shall not be construed as anything other than an opinion for entertainment purposes only.
Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!
Inspired by Graham Stephan, Meet Kevin, Shaf Rasul, Andrei Jikh, Nate O'Brien, The Credit Shifu and more.
#DanBilzerian #DanBilzerianBankrupt #Investing