6/Since $FFIE just raised $1 billion, how come it’s issuing debt for piddly amounts at 14%?
7/$FFIE says it has an MOU with a “Tier 1” city in China. That’s Zhuhai—which is Tier 3. The Chinese press reported that Zhuhai’s government withdrew from the arrangement formally last July, but FFIE is still talking about it.
8/$FFIE loves to talk about its arrangement with Geely. Geely put $50 million into the FFIE PIPE—then FFIE paid Geely $50 million for use of its “platform.”
9/$FFIE is ready to spirit money out of the company into its directors’ hands. The books are loaded with notes payable—and a big chunk is owed to Jia Yueting.
10/Considering how many times $FFIE has defaulted, it’s amazing investors let management issue debt secured against ALL the company assets, tangible and intangible. If Faraday decided to default on the notes, investors would lose everything.
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