Not at all it was in response to your statement "*was a loss making venture, which seemed to stir the "Angel Investor" into action."*..., I repeat, the investor is not entitled to a return. If "loss" stirred them, its probably why they lost the case

Yes.

Based on what's in the public domain, only 3 businesses successfully raised their minimum req. Tropical Gyros used the funds to open a 2nd location which I believe they reported some 2 million in profits (vaguely recall), Dr Danny Johnson has opened his medical facility with the money he raised. Red Lobster had some press release about a Trinidad opening not quite certain when the Nassau location is coming on stream

That's pretty good record for such a small country. Now for persons who've bought shares in those companies, its an investment, theres no guarantee of return.

ArawakX has nothing to do with the success of the business, in theory, there role is to create a marketplace where buyers can meet sellers. They do their due diligence to ensure that the sellers prospectus is sound, but they have nothing to do with what happens in 2, 5, 10 years in the actual running of the company

No "current" information

Only invest what you're prepared to lose

One of the most frightening aspects to me as I listened to the loose talk about various investment schemes being pitched to Bahamians over the radio, the talk is just too glowing and bright, there was a well established bank doing the same only a few weeks ago and at the time I wondered, "where is the SEC to curb this investment sales pitch to a public that does not understand the nature of risk? Bahamians dont know what a margin call is and that you could lose everything you put up as collateral, why are you pitching margin loans to the general public?" But where was the SEC?

**All of that aside, I still dont have a fair assessment on what is happening.** Is the business failing? Cash flow issues will show up right about now if they were undercapitalized. Are the issues all linked to the operating restrictions on them. Or is there something else going on?

In any investment it's for the investor to understand what they're putting their money into and that they could lose it all (barring misappropriation)

"*was not completely incompetent but was a loss making venture, which seemed to stir the "Angel Investor" into action.*"

**The one mistake I believe you make in the argument is the assumption that any investor is "entitled" to a return. Investors lose money *all* the time**. If the prospect of loss was the foundation of the lawsuit it may be why they lost the court case. If on the other hand they could site mishandling of invested funds that's a different case. The fact that this passed through court and there was no such finding has to say one of two things, there was either no mishandling or our courts aren't equipped to investigate such cases. I'd lean to the former for the mere fact that the SEC has investigated for near a year and found nothing, "to date" on which to act. Steve Ray looked over FTX's operation in one week and came with a finding, the other crypto firm took 2 days to say *not interested*. The SEC has access to all the bank accounts and financial statements that we do not. They dont have to guess. I look at the inability to pay the rent for what it is, they were literally unable to operate the business and were essentially starved of revenue.

It's quite possible another mistake made was undercapitalization Not having sufficient funds to actually execute on the idea. But that would be a scientific judgement the SEC would have had to make 2 years ago, the entrepreneur isnt going to say stop me I dont have enough funds to start.

Yes! From the Govt of The Bahamas website on crowd funding platforms:

"*8 Jul 2021 — He noted that The Bahamas International Stock Exchange (or BISX) has also been approved to establish its own similar platform...*"

Get to the Privy Council for a determination on whether what is happening is "*usual*"

Its difficult to tell where this problem begins.

Based on the handling of FTX its reasonable to ask the question of regulatory competence. The chairman of the regulatiry body was pictured holding a shovel at FTX's ground breaking and at the time of its collapse had no information on the number of customers or size of the portfolio, by court evidence was left to emailing Sam to ask for data having only responded to the crisis after an international online journal broke the story. And thats just the tip of the iceberg. Sam had no automated system to calculate margins on billions of invested funds. Theres no review body in the world that would look at anyone acting as the regulator over this saga and give them anything but a failing grade. "*Failing*" would be too soft a word.

Now to solvency issue. Its unfortunate that they had the battle with their investor. Removing access to capital IS one of the ways investors attempt to take over, especially startups. Its difficult to determine what happened in this case, was this a personal falling out or a falling out over concerns in the way the business was run?

The fly in the ointment, if Im not mistaken, hadnt the SEC floated the possibility of creating their own crowd funding platform? Or am I mixing them up with the SBDC? If its the former then youd have to stratch your head. Hard.

I hope the Rahmings come out of this still owning a viable business.

Tribune last Tuesday:

*A woman is pursuing legal action after **a high-ranking male police officer in plain clothes allegedly punched her in the eye - leaving her unable to see through her left eye**. The punch resulted in Latique Perpall having a detached retina. It is not determined yet if she has been permanently blinded in that eye.She identified the officer to The Tribune as an assistant superintendent of police.*

***I was walking coming from ordering my food** and someone came up behind me and told me ‘Your p---- fat’.”*

*Before she went to her yard, a police truck pulled up in front of her yard.“He point at me and say her lock her up. **He say carry her to my station**.*"

**Huh??? Why the woman he sexually harassed have to be behind closed doors under his total control?**

"*They carry me to The Grove. When I went there, they start to book me.He said ‘ain’t I tell y’all to take her to my station’... bear in mind I still do not know who this man is. I still didn’t even know he was an officer at the time.*

Booked on what charge????? Arguing with a sexual pervert?

*The doctor told me there’s a hole in my retina of my eye and the bone in my eye is broken – my muscle is wrapped around the bone. Cannot see out my left eye right now. My whole face feels like it numb – swollen.*

*National Security Minister Wayne Munroe said he had not heard complaints of the matter but admitted the officer could be criminally charged if the allegations are found to be true.*

"*In what many expected to be a keenly contested match-up to the end...*"

I see the Bahamas playing Puerto Rico once in the last 3 years and losing 7-0, while it was only one match, another loss with a wide difference would not be a surprise. Puerto Rico is also ranked at 25 in the concacaf standings while Bahamas is at 34. Nevertheless, a really good sign is that they were able to score a goal against what appears to be a much stronger team, it means it's possible and they can score another.

These countries play soccer like we play basketball, that means more kids exposed to the sport and a wider talent pool to pull from. If you go to a private school here you more than likely have some exposure to soccer. But our soccer greats are likely on the basketball court in some inner city neighbourhood and yet to be discovered.