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Can someone please explain what the last two sentences of the...

  1. decrisper
    327 Posts.
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    24/06/14
    12:55
    Post #: 13564106
    Can someone please explain what the last two sentences of the ALA announcement actually mean -

    "Applabs has subscribed for US $50,000 of SAFE notes in just.me 2014 Inc at a capped valuation of USD 4,000,000.
    The SAFE notes will convert at the same price as the next capital raising or on a USD 4,000,000 valuation, whichever is lower."

    The investment will convert to what? If converting to shares, how many? How is the USD 4,000,000 to be calculated?

    I am an ex-banker and this isn't very clear - but then..............derrrrr.............maybe I should know/understand.
    SP1 Price at posting: 20.5¢ Sentiment: Buy Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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