GREY:SYXXF - Post by User
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RedSoxon Oct 15, 2014 3:22pm
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Post# 23031009
Escrow Shares
Escrow SharesSynodon currently has 10,888,300 shares in escrow. For each $0.45 raised in revenue 1 share will be released from escrow. In order to release all of the shares from escrow the company would have to generate a minimum of $4.89 million in revenue. These shares were escrowed back in 2006 as a performance incentive for insiders and executive management. When Synodon hits its benchmark of $4.89 million in revenue generated what will that mean for the outstanding shares? I am unclear on this and was hoping someone might know. I am assuming that the escrowed shares when released will hit the net share pool at the current share price whatever that may be at the time of release? And so instead of 73,458,733 shares trading on the open market there will then be 84,347,033 shares trading on the open market ?? Is anyone familiar with Synodon's escrowed shares and how these work?