Intertainment Stacking the deck for a Royal Flush
I hope to hear soon about POYNT and INTERTAINMENT buying it!
I assume that INT needs the new 2.5 m because of winning the PYN bid.
Re Lexifone: INT will 100% go for option 2. Everything else would make no sense in the current situation. After an US Out of the last quarterly report - see SEDAR.com
"...Lexifone - Homepage
Lexifone Communications Systems
On April 25, 2012 the Company completed the acquisition of 466 ordinary shares of Lexifone
Communications Systems (2010) Ltd. (“Lexifone”) in the amount of $2 million for 25% ownership interest
in Lexifone. In conjunction with this acquisition received options for further ownership as described
below.
The Company has an option exercisable at any time before January 1, 2013 to acquire:
(i) all Lexifone securities not owned by the Company for $16 million; or
(ii) an additional stake of 24% of all issued and outstanding securities of Lexifone to attain a
49% holding in Lexifone for $5,120,000.
Should the second option be exercised, the Company will have until January 1, 2014 to acquire the
remaining issued and outstanding Lexifone securities for $10.2 million.
The purchase price on the exercise of the option will be payable 75% in cash and 25% in the Company’s shares. The option requires protection of minority interests and may be transferred to any company in which Intertainment has control over at least 51% of the votes attached to all issued and outstanding shares..."
Recent news:
Intertainment Announces Convertible Debenture Offering
Intertainment Completes Second Tranche of Private Placement of Units
Intertainment Media Agrees to Sell Stake in itiBiti Platform
Intertainment Media & Technology Partner to Bid for Poynt Assets