Holdin' Down The Culture
The life of an entrepreneur can be cumbersome. There is saying which states, “cash is king.” The reality is that cash flow is imperative in any business and one of the primary pieces of information, among other things, a banker will seek to identify when assessing whether or not a business is “bankable” (i.e., worthy of a loan) is whether or not the cash flow is sufficient to meet debt obligations.
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We previously reported on 11/14 how TMZ broke a story suggesting that Dame Dash was “broke.” This doesn’t necessarily mean the former Roc-A-Fella Records executive has a net worth of zero. It more than likely would mean Dame Dash is unable to meet his monthly financial obligations. According to Page Six, Dame Dash was unable to specifically meet his child support obligations for two separate baby mamas ( ex-wife Rachel Roy and baby mama Cindy Morales ) and was arrested in New York City. The publication goes on to report that Dash was promptly able to make bail.
The publication goes on to note that Dash allegedly owes over $400,000 in back child support. In April 2015, Bronx County Family Court put out an arrest warrant for Dame after commanding him to pay $62,000 to Morales. NYC Sherriff Joseph Fucito states, “We’ve been looking to arrest him since 2015…”
Dash claimed in a filing with Manhattan federal court that his personal income was “virtually nonexistent” and further claimed his only income stream were payments from ‘Empire’ creator Lee Daniels who owed him $2 million.
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Source: www.pagesix.com
