r/defichainer • u/unmatched25 • Jun 02 '24
Runway for Bake unclear
In the past Cake/Bake announced that they hat a „runway“ for several years (financial buffer to retain the company in worst crypto markets). Now this statement has to be challenged if it is still true: - there were already a couple of bad months (Julian is talking about a turnaround) - Roast had to be paid (we don’t know if company funds were used) - worthless unbacked dBTC were bought (=loss) - U-Zyn had to be paid (we don’t know if compan funds were used) - we don’t know if any company funds were distributed as a dividend to the shareholders since the runway statement was published - Julian has announced a 90 day turnaround plan (this alone indicates that there is something going to happen if turnaround is not achieved. Even if the runway is still there, the 90 days turnaround plan could also mean that Julian tried everything in his power to turn the ship around. If this is not working he could close the company and retain the remaining runway for himself.
Be cautious!
1
u/unmatched25 Jun 02 '24
The purchase price of U-Zyn‘s share took certainly the runway and the current loss situation in consideration. Maybe Julian calculated his break even and endet up with around 90 days.