After Helbiz scammed ICO investors
. Helbiz coin investors suited Helbiz in New York. Helbiz announced a new business unit - Helbiz Live. It offers customers to watch the 2021-2022 season of the Lega Nazionale Professionisti Serie B Italian soccer league.
As you know, based on PRELIMINARY PROXY STATEMENT in SEC
Helbiz had $24m net loss for the 2020 year. Probably, Helbiz tries to launch new business unit to attract more investors.
"In connection with the launch of Helbiz Live, Helbiz has undertaken substantial obligations. Helbiz acquired the rights to broadcast on a non-exclusive basis in Italy, approximately 390 Serie B regular season games for the next three seasons at a cost of approximately €12 million per season. Additionally, Helbiz Media has been appointed by the League Serie B as exclusive distributor of the Series B international media rights and thanks to such agreement with the League Serie B, Helbiz Media will commercialize such international rights on behalf of the League Series B. The agreement includes a minimum sales requirement of €2.5 million per season that Helbiz Media will guarantee to the League Series B. Any sales exceeding the €2.5 million will be shared on a 50/50 basis between Helbiz Media and League Series B."
"Helbiz may have underestimated the appeal of the Italian Serie B soccer league and, as a result, may not acquire as many subscribers to Helbiz Live as it anticipates or generate the revenues that it anticipates from the distribution of the content or advertising in connection therewith. The operation of Helbiz Live will take capital and management’s time away from its core micro-mobility operations."
So, Helbiz got money from tokensale to develop Helbiz
include Helbiz Live, deceived crypto-investors, and found the best way to avoids reporting to SEC via SPAC IPO.