StrockdoctorFrom my investigations after reading the prospectus,...

Strockdoctor

From my investigations after reading the prospectus, the previous deal had Citrofresh International excluded sales from Chile and Japan, Citrofresh International were going to receive a net commission from these sales, something along the lines of 5%.

This meant that the raising of the $2mil was to fund staff and management to generate new sales from all other countries. What today's announcement means is that Citrofresh International purchased $2.3mil of exisiting sales plus a growth factor on those sales, for 2 million shares and 1 million options, giving it a value of roughly $500,000.

Sounds like a good deal to me, spend $500,000 via issuing stock rather than cash, to gain approximately $1mil of gross profit. Not a bad pe purchase there, all credit to the board pulling that one off.

Canadian Bunny