Post by
Blizzy420 on Sep 02, 2020 5:49pm
104 million reasons to keep $proutly going....
Let's start with how much $proutly paid IBS for the technology license.
IBS got...
$4,525,000 & 36,857,676 shares w/ Additional 14,743,070 shares upon milestones
BNO Holding Inc (whoever that is) got...
$4,975,000 & 22,114,605 shares upon an earn out
Since IBS has loaned $1,855,000 that only leaves him with $2,670,000 for his life's work.
Doesn't sound too good does it?
Now let's look at IBS' stake in $proutly
Original - 36,857,676 shares
Earnout - 14,743,070 shares
$1 mil raise - 14,285,714 shares + warrants/options
$855k raise - 12,214,286 shares + warrants/options
Total - 104,600,746 shares all in or 30% of all outstanding shares
The downturn and dilution of this stock has not cost IBS any longterm potential gain. They have put forth an additional $1,855,000 of their own money and slightly increased their ownership from 29.74% to 30.03% over this period. If this stock can reach old highs above $1 Dr Sen and Mr Marcelino would stand to have over $100 million in stock and still own the rights to the US license for APP.
Doesn't $100+ million sound like a lot more desired outcome for IBS than having to walk away from $proutly with your tail between your legs paying pennies on the dollar for a technology assocaited with failure.
I will go over some debt stuff later when I have a chance.
Comment by
ScotiaOne on Sep 02, 2020 6:17pm
I would feel a lot more confident with your theory Blizz if we knew how the Oct. debt is going to be handled but i still like it.
Comment by
Zookie on Sep 02, 2020 7:52pm
thanks, Blizzy. Great perspective - as usual.
Comment by
SUMKNDV1DERFL on Sep 02, 2020 8:52pm
Great review, well summarized. As other longs, I am anticipating Sen’s plan for the debt load.