Jun. 12 at 2:33 AM
$GREE Anyone remember this smoke and mirrors "GPU data center deal"? (@Luckyjs38 should remember it)
Infinite Reality obtained shares of Greenidge valued at
$8.33 per share, in exchange for an equivalent amount of Infinite Reality stock based on a
$2.5 billion valuation. Greenidge will provide infrastructure and graphics-processing unit (“GPU”) needs for iR clients, while iR will receive a profit share on Greenidge data centers and preferred pricing for its own internal data center needs - https://www.businesswire.com/news/home/20231214376409/en/Infinite-Reality-Global-Leader-Powering-AI-Virtual-Immersive-Experiences-Announces-Strategic-Partnership-with-Greenidge-Generation-Holdings-Nasdaq-GREE
Looks like iR was later fleeced by a different smoke and mirrors deal... 🙄
"the SEC filed charges against North Carolina resident Charles J. Cole, his lawyer, Utah resident Torben M. Welch, in connection with an alleged fraudulent stock scheme in which Cole and Welch defrauded Infinite Reality, Inc., now known as Napster Corp. (“Infinite Reality”), out of 239 million shares of its stock." - https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26563
