The Strangest Things: Securities Trading Power Alley -- [U, For "EF Hutton" History] Tangerine's PIPE Is Investigated By SEC; Claims It Will Have More PAID Users Than Voters By 2026...

Tangerine's social media/cable enterprise SPAC deal (I refuse to give any of their silly graphics any play here) is looking pretty. . . dicey. The claim is this will be bigger than Netflix or Disney+. Hilarious.

First, most of the people identified as "key leaders / management" on page 21, here. . . won't list their last names -- presumably since (once he craters) they will be. . . unemployable, elsewhere (for having backed what is clearly a malignant, anti-free and fair US elections propaganda machine).

Next -- he expects to garner 20% more PAYING users, at over $13/month, by 2026 -- than voted for him (whilst paying nothing, for "the privilege" of following him on Twitter -- again, paying nothing -- in 2020) -- at page 38.

Finally, and almost trivially -- given the above wildly stupid ideas, the SEC and FINRA are requesting documents (see Item 8.01 here), about who knew what, when -- and the two are scrutinizing the trading volumes prior to the announced deal with Tangerine -- at DWAC. Seems clear there were potentially criminal (felony) tippees trading, based on undisclosed inside material information, immediately prior.

UPDATED -- the deal is supposedly being run by an entity using the old logos of "EF Hutton" -- again, I will not feature deceptive images of that, as a stand-alone. I will note that it appears the brand was bought by three guys at a place called Benchmark Investments, LLC, for an undisclosed amount. The original "when Hutton speaks. . . people listen" company (along with its founders) went bankrupt, and are. . . and have been. . . long dead (since the early 2000s).

No, these are three small time brokers -- trading on an old brand-name (which they bought), that gullible retirees in Alabama and Kansas might (wrongly) assume is a continuation of the original old and generally venerable company. Nope. Just three turks -- in decidedly shiny suits, out of Georgia.

We will keep an eye on this set of now SEC filed preliminary prospectuses (as amended from time to time -- raising a potential $1 billion in new money) -- as it all portends to be an epic tragi-comedy. Onward, grinning.

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