More Info on KognitivTo begin with, Aimia dumped its Loyalty Business into Kognitiv in June 2020, forming a merged entity.
The Loyalty Business was valued at $21 million US which Aimia accepted as preferred sharesin the amount of 1.63 million preff shares ata cost of $12.85 US per share.
Those shares were valued at $18.6 million US at exit March 2022
In January 2022, Aimia Invested another $10 m US in Kognitiv in the form of a convertible debt instrument generating 12 % interest , convertible into common shares of kognitiv.
Those common shares amounted to 2.12 million US at a cost of $4.72 US per share
Share values have been obtained from the Q1/22 report of Urbana.
So, getting rid of the losing Loyalty business and dumping it into Kognitiv was positive.
We shall see when Q2 reports, the putative fair value of that investment/disposal.
Given that sales of $1 are costing $2 , at some point, Chapter 11 will have to be declared.
At that point, we will know just how much of that $31 m US investment we will recover..