Ann: Appendix 4C - Quarterly Report with commentary, page-187

@McKhenry

as i said 6-8 weeks ago - imo what got the LiFx deal across was BUD was willing to buy out the major investor - and it gives LiFX exec a stock market vehicle and gives BUD a succession plan and was in effect a reverse takeover.

the private equity market in US tech has topped out - all those insiders are looking to cash in profits from those private market valuations theyve been pumping up for past 6 or so years

thats why Lyft, Pinterest, Zoom, and half a dozen others just IPOd in past month. Why Uber, WeWork and 2 dozen others are expected to IPO in next 3 months

LiFx I;d heard was seen as a past peak story - which might explain why they didnt pursue an IPO - and its major funder wanted an exit. Which is why they needed a deal.