XST 0.00% 0.9¢ xstate resources limited

Ann: Asset Sale - Alberta Plains, Canada, page-5

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  1. 646 Posts.
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    Looks like they sold it for about what they purchased it for.
    Purchase
    28/1/21 - 10% @ $250k cash + $70k shares
    14/7/21 - 25% @ $300k cash + $950k shares

    Total purchase price = $1.57m ($550k cash + $1.02m shares)
    Total sale price = $1.575m

    Interestingly enough they have approx $500k debt to Blue Sky which suggest they didn't actually pay the cash to Blue Sky and were lent the money.

    Almost seems like this was backdoor capital raise. They issued $1.02m shares and are now getting $1.08m cash
 
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