“At some point in recent weeks, MtGox appears to have pitched investors, arguing that it was poised to increase its profits 20-fold in just two years on the back of ‘no debt nor outside financing.’ That’s according to a newly published document entitled ‘Business Plan Europe 2014-2017,’ and it appears to have been authored by MtGox executives in 2014. The 27-page document, which was first published late Wednesday, puts the company’s fiscal 2013 profits at $286,000, its projected fiscal 2014 profits at $2 million, its projected fiscal 2015 profits at $13.85 million, and its projected fiscal 2016 profits at $39 million.”
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