Ann: Spenda announces strategic acquisition of Limepay, page-167

My take is they were struggling to find the resources to complete the CC & Capricorn projects. Up to 8M to secure 7.2M in ARR & experienced software engineers sounds decent enough with SPX selective wording, however we wait to see Limepays total operating costs. Considering Limepay has raised $43.5M since 2018 its very likely they haven't achieved profitability to date & were looking for a bailout. Further dilution hurts holders & will suppress SP in the short term (looking likely that a consolidation is on the horizon) . This acquisition seemed to be a necessity for both company's, I'm glad SPX had the foresight to split the acquisition into performance based Tranches. Its all on Limepay to hit the ARR targets for consecutive months, appears as though SPX management expect this to be achieved by Limepay by the end of the third quarter CY24. SP wont move much unless a significant & unexpected increase in revenue is report in the quarterly with costs remaining constant. (as we all know & have all been waiting for)