the Noveda acquisition isn't capped in # of shares, just value of $27m
the Zentri acquisition was at least capped to 300m shares
Noveda was supposed to be calculated using 10 day vwap, but that didn't seem to go that way... because $250k worth of upfront payment was paid using $0.016 issue price instead of $0.1 as assumed in the calculation
If we use the calculation of $250k becoming 15m shares, then $27m value becomes 1.7 billion shares.
in the AGM letter page 15 it says Noveda would result in issue of 320m shares assuming issue price of $0.1 per share... not so sure that is going to be a valid calculation
either way, the Noveda deal seemed to favor Noveda and that is still proceeding, and it ends up favoring Noveda even more
the Zentri deal favored Buddy, and that got cancelled
so yeah, feels bad man
BUD Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
