now we knowi own shrs. of INT and am long so I am not a basher. but after reading the news release it proves once again how the market is not a level playing field.
now we know why the sp was driven up to the high 50's....
Intertainment acquired all of the issued and outstanding shares of SaaS
pursuant to a share purchase agreement among Intertainment, Ortsbo and
the sole shareholder of SaaS (the "SaaS Vendor") in consideration for a
total purchase price of $24,500,000 (the "Purchase Price") to be paid by
way of cash and common shares of the Company ("Intertainment Shares")over a period of 24 months. At closing, the SaaS Vendor received
$4,500,000 in cash and 8,250,000 Intertainment Shares at a deemed price
of
.58 per Intertainment Share (being the closing price per
Intertainment Share quoted on TSXV on October 18, 2011). At closing the
Corporation also cancelled a promissory note issued previously by the
SaaS Vendor to the Company in the principal amount of $500,000. In
addition, Intertainment issued the SaaS Vendor a non-interest bearing
promissory note in the principal amount of $5,000,000, which shall be
paid over a period of 24 months in eight equal instalments at the end of
each calendar quarter following the closing date. Intertainment also
issued the SaaS Vendor 16,750,000 Intertainment Shares at a deemed price
of
.58 per Intertainment Share to be held in escrow pursuant to a
voluntary escrow agreement. The escrow agreement provides that the
Intertainment Shares will be released over a period of 24 months in eight
equal instalments at the end of each calendar quarter following the
closing date.