Fully diluted 940m shares as explained above (not including the 50c options) , closing price today 16.5c , gives us fully diluted $155m valuation.
Performance shares - well they only have to achieve $10m revenue annually within the next three years. If they cant get to that revenue within 3 years then i feel its worth less than 5c a share by then. $2.3m dollars probably left in the bank as of now , wont be cash flow positive for sometime so even more shares/options will be needed to be issued.
PERFORMANCE HURDLES.
112,222,222 Class A Performance Shares which convert on achievement, within three (3) full financial years of Completion, of revenue over a 6 month reporting period equivalent, on an annualised basis, to annual revenue of at least $5,000,000 (Milestone A), each Class A Performance Share will convert on a one for one basis into a Share;
112,222,222 Class B Performance Shares which convert on achievement, within three (3) full financial years of Completion, of revenue over a 6 month reporting period equivalent, on an annualised basis, to annual revenue of at least $7,500,000 (Milestone B), each Class B Performance Share will convert on a one for one basis into a Share; and
112,222,223 Class C Performance Shares which convert on achievement, within three (3) full financial years of Completion, of revenue over a 6 month reporting period equivalent, on an annualised basis, to annual revenue of at least $10,000,000 (Milestone C), each Class C Performance Share will convert on a one for one basis into Share.
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