just a reminder.... I won't comment on the relationship between...

just a reminder.... I won't comment on the relationship between the board and the Trust. Nor will I comment on the current state of the platform.


Nvoi Limited (ASX:NVO) entered into an agreement to acquire WorkConex Holdings Pty Ltd for AUD 0.6 million on January 16, 2020. As per terms, Nvoi Limited will acquire 100% of the issued share capital of WorkConex Holdings Pty Ltd for an initial consideration of AUD 10 plus earn-out consideration of up to AUD 0.3 million in cash subject to WorkConex achieving at least 100 genuine paying subscribers who have held such status for at least two consecutive months within 12 months of completion. The earn-out amount is equal to AUD 857 for each such subscriber until capped out and is payable within 14 days of the end of that 12-month period. In addition, Nvoi will assume a total of approximately AUD 0.3 million in net debt owed by WorkConex, which Nvoi will repay at completion. WorkConex staff will continue in the business, with WorkConex founder and general manager, Richard Swanton, continuing to lead the WorkConex sales team. The agreement is conditional upon confirmation of the net debt position and transfer of certain intellectual property rights, among other things. The transaction is expected to complete later this month. Nvoi Limited (ASX:NVO) completed the acquisition of WorkConex Holdings Pty Ltd from Braithwaite Family Trust, Swanton Family Trust, Michael Braithwaite and Richard Swanton on January 22, 2020