CEO of Nilam Resources resigned after the announcement of the purchase of 24,800 BTC

In a confusing press release from the gold mining company Nilam Resources, it is claimed that it will create an organization called MindWave, through which 24,800 bitcoins will be purchased.

CEO of Nilam Resources resigned after the announcement of the purchase of 24,800 BTC

At the same time, it is not explained how the company will be able to receive billions of dollars in financing for the purchase of the main and most expensive cryptocurrency.

The lack of clarity around investments is compounded by the weak financial condition of each company, in particular, the corporate income of Nilam Resource is only $ 2 million, of which you will have to pay interest, taxes, etc.

Xyberdata's unaudited financial statements show that the organization has approximately $70 million in "shareholder funds" and only $1.5 million in cash. This is significantly less than the required $1.2 billion for investments in bitcoins. Interestingly, Nilam decided to issue new Class C shares, possibly to complete the transaction.

Adding to the piquancy of the situation is the fact that, in response to a request to comment on investments in BTC, Nilam Resources CEO Ron McIntyre said that he had resigned and his name had been removed from all corporate documents.

As a reason for leaving, he advised looking at the share price chart, where the classic pump and dump scheme is clearly visible. He added that an independent non-governmental organization, which regulates and oversees compliance with laws in the field of FINRA exchanges, will soon deal with this.

McIntyre added that he had heard about the upcoming bitcoin deal, but did not know any details, and a press release was issued without his consent.


Read More