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Ignite International Brands Ltd posts £29 million in losses…

Curtis Heffernan is suing Dan Bilzerian's Ignite company for wrongful dismissal related to his former boss' overspending.

Heffernan, the former president of Ignite International Brands Ltd., says that Bilzerians's expenditures were extravagant and excessive.

In his lawsuit he states, expenses included a $15,000 ping pong table, a  $40,000 rock climbing wall and over a hundred grand on a Bahamas photoshoot.

Who is Dan Bilzerian?

Dan Bilzerian, one of the most successful professional poker players in the world founded Ignite International Brands Ltd in 2017.

Ignite International Brand, a cannabis and CBD investment company based in Los Angeles had an advantage when launched. Access to Dan Bilzerian's massive social media following, over 40 million followers.

Bilzerian is not only known for his poker playing abilities but more so for his lavish lifestyle and partying ways.

This lavish lifestyle is not without its consequences though.

Ignition failure

According to a Forbes article published, Ignite International Brands Ltd filed their annual report at the Canadian Stock Exchange with CAD$67 million in losses.

This follows the replacement of acting President, Curtis Heffernan with President Lester Lee.

There is ongoing speculation that the company will falter and fail. It seems as though the company is largely operating on borrowed time with money made through “convertible debt”.

 

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Paul Burns

Paul Burns might be best described by his famed catchphrase "Yabba Dabba Doo". Or maybe that was Fred Flintstone. When he's not writing for The Extract, he is penning his new novel.

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