š¬š§ āFirst Contactā Investigation ā Full Set of Facts
This material draws on investorsā internal documents, court registers, open YouControl data, dozens of video interviews and public statements by Valerii Borovyk.
1ļøā£ Key Points at a Glance
$425 000 in investments raised in autumn 2023 to launch production of drone motors and propellers.
0 % readiness: not a single serial part shown in 20 months.
BMW X6 2024 and a new flat ā major personal spending by the founder.
ā¬23 600 + court fees ā ruling of the Chernihiv court on 11 Nov 2024 in favour of one investor.
The SBU denied that āOsaā drones took part in the high-profile āPavutyĀnaā operation.
2ļøā£ Extended Timeline
š SeptemberāOctober 2023
⢠At pitch events Borovyk shows āprototypesā of motors and propellers, insisting that āeverything is ready, only machines are missing.ā
⢠Target set at $500 000; $425 000 closed in six weeks.
š December 2023
⢠Contracts signed to ābuy 0.75 % of share capitalā in an LLC with a charter fund of ā“3 000.
⢠Key clause: all risks fall on the investor, and reporting is āon request, if it does not harm military secrecy.ā
š JanuaryāApril 2024
⢠Instead of equipment, investors get āpre-ordersā and excuses about Chinese New Year.
⢠The engineering team is officially ādisbandedā, yet money remains under the founderās control.
š 31 May 2024
⢠Property register records a BMW X6 2024 ā dealer price ā ā¬100 600.
š 13ā27 August 2024
⢠The announced ābusiness tripā abroad is in fact a holiday in Portugal.
š September 2024
⢠The founder cedes part of Kyiv real estate to his ex-wife and buys her a new flat (ā ā“6.8 million).
š 11 November 2024
⢠Chernihiv court orders ā¬23 600 to be recovered for an investor, citing non-performance and lack of reports.
š 2025
⢠Despite lawsuits, a new fundraising round opens for the underwater drone VAL-1 (company valuation again $3 million).
⢠Media repeat claims that āOsaā drones joined āPavutyĀnaā; the SBU clarifies its own in-house designs were used.
3ļøā£ Where Did the Money Go? šø
š $107 000 ā personal mortgage payoff by the founder (court file, April 2024).
š¢ 53 m² flat ā registered to the family in September 2024.
āļø Machines: photo audit shows six Chinese units worth ā $80 000 (instead of $400 000 in the budget).
4ļøā£ Main Fraud Patterns and Tactics š©
Financial fairy-tale ā payback āin 4 monthsā, average profitability ā45 %ā.
Rubber contracts ā the start-upās only solid duty is to re-register a minimal LLC share.
Untraceable transfers ā cash with a receipt, cryptocurrency, funds via third-party sole traders.
āEmptyā legal entities ā ā“3 000 charter capital, no financial reports for eight years.
Personal shopping ā cars, real estate, loan closures.
Zero reporting ā any request dismissed as āclassifiedā.
Team rotations ā engineers and accountants replaced under the banner of āsecurityā.
Interview world tour ā 60 + public appearances where the founder poses as cosmonaut, producer, Elon Muskās adviser, and āthe first to show FPV to Zaluzhnyiā.
5ļøā£ Market Impact and Outlook š®
⢠Finances under a microscope: investors now demand escrow, payment tracking and monthly P&L reports.
⢠NSSMC template contract: a standard with clear KPIs and penalties for non-performance is being drafted.
⢠Capital pivot: money flows into the Brave1 cluster, which has already issued 470 grants worth ā $35 million.
⢠Corporate ventures: large defence groups create CVC funds to acquire start-ups with real R&D.
⢠Reputation filter: private mil-tech projects without an audit are doomed ā market trust is near zero.
