Cash position After raising 9.1 and 11.5 millions, added to the 4.2 millions in cash at the end of last quarter, SPOT built a 24.8 million cash warchest.
The two acquisitions today will use up only 6 + 1 = 7 millions. So the company still has 17.8 millions left in cash. I wouldn't be surprised to see more acquisitions in the not too distant future.
it is notable that in both cases, the owners of Geotic and CEO.CA accepted more shares than cash, nearly twice as much in the case of CEO.CA and at higher price than the market (1.07 vs 1.0$ at time of announcement). The lock up for CEO.CA is three years, an unusually long time and a strong vote of confidence that the business will thrive with the help and resources SPOT has at its disposition.
The acquisition of CEO.CA certainly is an eye opener... Completely unexpected. We'll see where this leads. SPOT has a vision to become very big and a lot of savvy entrepreneurs are jumping on board, in addition to institutional investors.
Anyone has an opinion now SPOT could leverage CEO.CA for its own ends?
I hope that in the weeks and months to come, we'll hear Denis Laviolette et al. articulate their vision in more detail. I'll be all ears!
Holding strong here.
Cheer,
Hen