You all love to spin the story when it comes to the acquisition of Appstablishment and the impairment.
The day of the Appstablishment acquisition the share price ran up roughly 100%. The independent experts report valued the business at roughly 2.85/3c per share. The share price was different on close, the accounting standards required to book the value of the asset on the day of the acquisition. The impairment charge that was levied, really worked it back to the valuation was so there was a logical adjustment. It was definitely not cash it was an accounting entry.
As for cash, Spenda has $7,500,000 in the bank with $5,000,000 in loans
You all love to spin the story when it comes to the acquisition...
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