Bergen have $100k worth at 15c plus another 750k units, total 1.4m. They haven't paid anything for these shares.
That's 15c conversion price, not 16c or 21.5c
If they decide to sell 1.4m into illiquid SOC, future conversions could be lower unless date on 3B is locked in. Maybe it's just locked in for the 130% calculation meaning issues around 22c if share price goes a lot higher (over 25c).
If 3B price for 90% of vwap is not locked in, hopefully for holders, Bergen won't sell down lower for cheaper conversions at future unknown dates. At least company have option to cancel if they can raise elsewhere.
The 7.3m was assuming the full $1m converted at same price as fee.Then add on security and divide by $1m raised = 12.5c. Simple explanation for calculation although most here reckon SOC will be moving higher despite Bergen history.
You should check out a few of the others Dazed. Bergen have held SUD down for the best part of a year imo. Read posts carefully and check all stocks before trying to discredit someone on beloved stocks.
SOC Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
