Ivy apparently agreed to pay CCA $1.3m in exchange for CCA assuming Ivy's tax liabilities in their entirety for the period to Dec 2018. According to Ivy, those tax liabilities are expected to fall somewhere between $4m-$5m. Presumably, CCA will seek to offset against its accumulated eligible tax losses.
Very curious that there has been no mention of this at all by CCA. It would appear to be material.
On a further note, CCA appears also not to have revealed the full conditions upon which it has agreed to return 90% of its token holdings, as part of its disposal of its interest in Ivy. An interesting condition is that 2/3 of those tokens (i.e. 78m) will remain in escrow until late-2020 and shall revert back to CCA should any action be commenced by any party. Read here: regulatory action or legal action commenced by an individual or class of individuals. One wonders why such a condition has been imposed.
Ivy apparently agreed to pay CCA $1.3m in exchange for CCA...
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