To offer some BalanceFrom the latest Financial Statement Notes; You judge if good or bad; I have no idea myself and would appreciate any info..thanks
5. Investments (continued)
i) Simple Agreement for Future Equity (“SAFE”) Agreements (continued)
a) Biftek INC. (“Biftek”)
Pursuant to the term 1 of the SAFE Agreements, $160,999 SAFE investment in Biftek, a private company, to invest in future
rights to shares of Biftek’s capital stock. The “Post-Money Valuation Cap” is US$12,500,000.
b) Cell AG Tech Inc. (“Cell”)
Pursuant to the term 1 of the SAFE Agreements, $631,960 SAFE investment in Cell, a private company, to invest in future rights
to shares of Cell’s capital stock. The “Post-Money Valuation Cap” is US$13,000,000.
c) MeliBio Inc. (“MeliBio”)
Pursuant to the term 2 of the SAFE Agreements, $255,308 SAFE investment in MeliBio, a private company, to invest in future
rights to shares of MeliBio’s capital stock. The “Post-Money Valuation Cap” is US$12,000,000. The “Discount Rate” is 80%.
d) Mogale Meat Co. (“Mogale”)
Pursuant to the term 2 of the SAFE Agreements, $572,594 SAFE investment in Mogale, a private company, to invest in future
rights to shares of Mogale’s capital stock. The “Post-Money Valuation Cap” is US$7,000,000. The “Discount Rate” is 80%.
e) Novel Farms (“Novel”)
Pursuant to the term 2 of the SAFE Agreements, $190,896 SAFE investment in Novel, a private company, to invest in future rights
to shares of Novel’s capital stock. The “Valuation Cap” is US$18,000,000. The “Discount Rate” is 80%.
ii) Equity investment
EatJust Inc. (“EatJust”)
On September 28, 2021, the Company acquired 15,000 common shares of EatJust at a cost of $347,200. Transaction costs of
$17,448 were expensed as incurred in the statement of loss and comprehensive loss.
At September 30, 2021, the Company held the following investments:
Valued in the following order
Cost
$
Level 3
$
Total FV
$
Equity Investment
EatJust Inc. 347,200 347,200 347,200
SAFE Agreements
Biftek 160,999 160,999 160,999
Cell 631,960 631,960 631,960
MeliBio. 255,308 255,308 255,308
Mogale 572,594 572,594 572,594
Novel 190,896 190,896 190,896
2,158,957 2,158,957 2,158,957