If these Sand Tokens structured with the SAFE (Simple Agreement for Future Equity) are the reason for the Halt, then it makes sense for the lengthy nature of the delay!
The Company has advised in their latest Cleansing Prospectus they were in “advanced negotiations” with Investors for an additional Cash Raise for The Sandbox that has a similar structure to the deal with Klaytn (Hashed) for The Sandbox this past May!
It would make sense that the Company would want to get clarification and confirmation of this kind of structure and how it would be treated that included the SAFE agreement and Sand Tokens before Closing on another similarly structured DEAL!
I don’t know exactly who would make the interpretation and or decisions regarding the treatment of these types of specialized agreements and how they would be treated from an accounting standard of some sort? Does anyone know if these type of agreements exist in any other related Company’s deals or is this just new stuff? This could take a while longer to settle if the hold up is related to interpretations of new standards.
Nice to see a $6 million Q3 revenue and the continued development of the Flagship BC Sandbox game which might show some additional revenue in Q4 from any pre sales of the Land and Digital assets...
all the above is my opinion and pure speculation only dyodd
AB1 Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
