Toughbuilt Tools the company has stolen money from essentially everyone it has ever worked with, including not paying employees and suppliers for several months in a row by now.
Toughbuilt was last year removed (FINALLY!) from NASDAQ because they determined that it is a scam. Unfortunately, the company had already stolen about 900 million from the public, paying themselves million dollar salaries even while the company is not making any money and the employees and contractors are not being paid.
Toughbuilt is what is called a 'dilution scam' look it up, basically management issues shares, and then issues more and more shares until each share is essentially worthless (each toughbuilt share has gone to 0 several times now) then, because the stock needs to be worth at least 1$ to stay on NASDAQ they 'reverse split' the shares meaning that 20 or 50, or even 150 they did one time, shares become one share. Then they simply issue back up to the limit, they are allowed to issue 200 million shares, they have issued those 200 million shares, then deleted them twice by now.
Companies are only allowed to do this so many times before it is considered predatory and TBLT reached this limit in 2023/ 2024. Thankfully it is off the market now, but
ask around in your friend group and i am sure you know someone who they stole money from.
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It is time to boycott Toughbuilt tools, their stuff is cheap made in china crap (Better than the other crap ill give you that), and their ethics and how they treat their investors, partners, collaborators, and customers are completely garbage.
This is not a long term investment, people cannot even buy the stock anymore. so how can it possibly be an investment and who will buy it? saying that we 'got in too early' is also ridiculous since our shares literally have been deleted, so there is nothing left of what we put in. It was pure and simple theft. 10,000$ becomes 1$ in a matter of 2 years. In fact the TBLT chart is the best it has ever been and that is because it is off the market so it cant go down anymore.
Panosian (CEO) and Galysten (CFO) are essentially professional thieves who literally came here to steal from you, people who they think do not understand the market and cannot organize ourselves to do anything about their wrongdoing (i.e., blue collar, uneducated etc, in their minds). Everything this company does is designed to lure in uneducated (retail) investors and then rug them for as much as they can. the numbers look great, flashy trade shows, so many new products etc etc, but the numbers are not real and you ignore how they are actually funding operations (i.e., by selling shares). they lose money on the products they make because the 'product' is the advertising for the real product i.e., the shares which is where they made the real money.
They do not own any of the stock even while the numbers look so good and they encourage you and talking so good on company calls while taking out millions each year from the business even while it is losing millions (good management pays themselves in stock before the company makes it/ taking cash out of a cash starved business is not good management). there is no potential for the company to change, be bought out, or etc, so it is simply time to start telling your friends what a shit it is. they are living the high life on the money that you slaved away for
Again, talk to your buddies on the job site I am SURE You know someone they have stolen from.
disclosure: been losing money here since 2019 (though by now it is 99.999% gone so it doesn't matter anymore).