RE:BilzerianAgree, this company is riddled with Cheap (.04) and free paper. Below taken from i3 filing statement on Sedar
On June 29, 2020 (“Effective Date”), the Business Combination Agreement was completed whereby Fairmont acquired 100% of the issued and outstanding common shares of the Company in exchange for 89,872,140 common shares. Immediately prior to the effective date, Fairmont consolidated its shares on the basis of one post consolidation share for each ten pre-consolidated shares and adjusted outstanding share purchase warrants, settled debt of $1,600,000 for 40,000,000 units (“Unit”) and issued 7,000,000 finder Units.
On April 1, 2020, the Company issued 4,437,000 common shares with a fair value of $1,109,250 to settle debt of $88,700. The Company realized a loss on settlement of debt of $1,020,550.
During the period ended June 30, 2020, the Company repurchased 9,229,333 common shares with a fair value of $923 for $215,000. The Company realized a loss on share repurchase of $214,077.
On June 11, 2020, the Company issued 500,000 common shares with a fair value of $125,000 to settle debt of $10,000. The Company realized a loss on settlement of debt of $115,000.
The Company issued 47,449,110 common shares, pursuant to the RTO, with a fair value of $11,862,278.
Pursuant to the terms of a consulting agreement, the Company issued 1,250,000 common shares with a fair value of $312,500 in lieu of cash for consulting services.
On June 16, 2020, the Company entered into a collaboration agreement (“Collaboration Agreement”) with Jolt Solutions Ltd. (“Jolt”). Pursuant to the terms of the Collaboration Agreement, Jolt will function as an operating partner to the Company. The Company issued 3,500,000 common shares with a fair value of $875,000.
Pursuant to the Social Media Influencers Agreement and Business Development Agreement and amended on March 30, 2020, the Company issued 4,807,555 common shares with a fair value of $1,201,889.
Under the Business Development Agreement, Mr. Bilzerian and the Resulting Issuer will work together to develop and market the Resulting Issuer’s i-Gaming business. Mr. Bilzerian has received a 15% ownership interest in the Resulting Issuer under the Business Development Agreement, and has received an aggregate of 20,157,713 Influencers Shares in satisfaction of the ownership interest obligations under the Business Development Agreement. ( This has ZERO cost base)