PAYOUT confusion - where is rest of the money????The news release said that Poda will have $ 70 million Canadian after paying out all of its obligations.
They had $ 14 million in cash of which they spent $ 3.45 million to buy back equipment. Assume another $ 1 million or so for operations as they were doing nothing. That means cash on hand of $ 9 million without this deal.
They we have this deal of $ 55 million USD to Poda, which equates to $ 69 million Canada.
Theen we have 3,925,000 options that will get exercised at 16 cents and give company money of: $ 628,000
We will then add 2,590,000 warrants that get exercised at 10 cents each, which gives: $ 2,950,000
So when we add it up it comes to cash of: $ 81,578,000.
Now for the outflow:
We have 55,747,229 shares in circulation as of November 30, 2021
We will have 3,925,000 extra shares due to option conversion
We will have 2,590,000 extra shares due to warrant conversion
We will have 42,784,000 extra shares due to invictus conversion
Total shares are: 105,046,229 shares
Poda has agreed to a payout of 40 cents as a dividend, so 105,046,229 * 40 cents = $ 42,018,492
So where is the other: $ 39,559,508???? in cash
Poda came to a number of $ 70 million?????
And why mention $ 1 million for new operations????
Management needs to give an accounting of these amounts???
And why are the multiple voting shares getting $ 400 each and not 40 cents each???? Does not see fair....???
My personal opinion,