RE:RE:RE:RE:PATENTS - trademarks, license, rights all belong to PodaThis is what the press release says:
Upon completion of the Transaction, the Company will no longer have any material property or assets other than cash-on-hand plus the cash proceeds of the Transaction, which are expected to amount to approximately CDN$70 million, after satisfying the Company's obligations and liabilities.
So lets do the math:
(a) 84.75 million shares fully diluted * .40 cents $ 33.90 million
(From the 84.75 million shares you need to remove warrants that will not get exercised, for
example there are 7.5 million warrants owned by Armistic Capital at $ 2.50 per share. They
will not pay $ 2.50 per share to get 40 cents back).
(b) 62,000 multiple votes preferred * $ 400 per 23 million
Total if I use your numbers is $ 56.9 paid out BUT....the company said they have $ 70 million and will only keep $ 1 million for operations.
Also there is warrant money and options that will get exercised and this brings another $ 3.5 million in the companies coffers to be paid out.
As you can see the numbers do not add up.....but at 40 cents USD they do.
Was a TYPO error in the press release.
My personal opinion,