Dan Bilzerian is One Step Closer to Going BANKRUPT! - Ignite Financials Reveal
108Dan Bilzerian is one step closer to going bankrupt, but why? whats changed recently? In this video I give an update on the Dan Bilzerian lawsuit and also update you on the Ignite International Q3 financials and how they stack up.
If you don't know much about the story so far, and you want a little recap, basically Dan Bilzerian recently dismissed the old president of Ignite, Curtis Heffernan, Curtis then went on to sue Dan and Ignite for wrongful dismissal.
This opened up a whole can of worms about how, he alleges, Dan uses ignite as a dumping ground of personal expenditure. For the 2019 financial statements of ignite we saw massive losses. These losses were echoed in the Q2 2020 financials and also appear to be continuing into Q3.
Turnover is down, profits are down, expenses are down marginally all leading to a sizeable loss. Cash is down, unsold inventory is up, there are unpaid suppliers, long term loans and more, its really starting to look like a bit of a mess.
Dan is having to continually support ignite with around $5m a quarter, can Dan continue to pump $20m into ignite forever? or will Dan Bilzerian go bankrupt?
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