1. Based on PRELIMINARY PROXY STATEMENT in SEC
Helbiz financial report for 2020 year shows $4,4m dollars revenue and $24,5m net loss (page 37).
At the same time Salvatore Palella has $825,000 salary, $410,000 bonuses and $210,000 compensation for 2020 year (page 238). It's total $1,445,000.
As of December 31, 2019, the Company had extended interest-free loans with no set repayment term to Salvatore Palella, its majority shareholder and sole director, in the amount of $1,382,000 (page 163)
2. Palella and Helbiz C-level team wanted to show money from ICO and Helbiz coin token sale, as credit to Helbiz Inc, maybe as Palella's own credit. Actually, this relates to different offshores that are controlled by Palella and Helbiz team.
Helbiz tried to buy Helbiz coin from its investors at a price -x1000 from ICO, and shows fictive deals: the Helbiz team control close to 40% of coins now, and they and their partners are moving Helbiz coins.
After court-ordered Helbiz coin in security, Helbiz show that Quantum Analysis Management Ltd. owes 5% of Helbiz Inc.
So, probably after IPO Helbiz team and Palella will state that "Helbiz Inc gave back money to all Helbiz coin investors" and "some bad people try to damaged our reputation." But after they sold Helbiz stocks for 5% these money will move to Helbiz C-level pockets.
That how Helbiz coin investors lost $38m, and IPO investors may lost money as well.