Revised payout numbers per my scheduleRevised schedule based on the debenture conversion of $ 175,000 debt into 7,000,000 common shares and the exercising of 10,000,000 warrants. I have unaccounted cash. =======================================================================================
Per Sedar Documents, Poda Holdings Inc. confirms that on January 27, 2022 the share capital was as follows:
Common shares 55,807,229 at payout of 40 cents Canadia...........................$ 22,322,892
Plus on May 16, 2022:
EMBR Capital 10,000,000 (warrant conversion) at payout of 40 cents..............4,000,000
EMBR Debenture 7,000,000 (debenture conversion) at payout of 40 cents..........2,800,000
Preferred shares 63,646 at payout of $ 400 per share.........., .......................23,000,000
Stock options 5,975,044 at payout of .40 cents per share................................2,390,018
Warrants 38,340,320
Less; $ 2.50 warrants (7,500,000) to expire worthless
1.00 warrants (3,640,320) to expire worthless
.50 warrants (1,250,000) to expire worthless
.10 warrants (10,000,000) were exerecised May 16th by EMBR capital
Balance of warrants: 15,950,000 (to be exercised at payout rate of 40 cents) 6,380,000
Total Payout: $ 60,892,910
Per Management they will have $ 70,000,000 in the bank plus they just received on May 16, 2022 from EMBR Capital $ 1,000,000 so total amount in cash for distribution will be $ 71,000,000. We removed payout of $ 60,892,910 above and we arrive at unaccounted cash of $ 9,107,090.
So where is the other $ 9,107,090 that is missing????
Also, warrants and options exercise will bring in these funds:
(a) 15,950,000 warrants at 10 cents will bring in $ 1,590,000
(b) 5,975,044 options at 16 cents will bring in.........414,400
Total additional cash to come in: $ 2,004,000
Where is this cash going of $ 2,004,400???
Plus there was cash in the bank of $ 14 million, what happened to all of that cash from November 2021???
I calculated DISCREPANCY in cash of: $ 25,111,490 that would belong to shareholders.
Therefore it is up to shareholders to ensure that the money in the bank belongs to us
You can have the exchange look into these numbers.
You can call CSE Exchange at 416-572-2000
My personal opinion