Ann: Identitii to receive $1.0m from Payble, page-9

Hmmm ....

40% of the $1m was Identitii's anyway by virtue of its holding in Payble, so that portion of the purchase is just moving cash from one pocket to the other. $600,000 over two years for the IP transferred to Payble is the actual benefit to Identitii.

This receivable should have been in Identitii's accounts from the time it set up Payble as a subsidiary. It would have at least been discussed with X15 when X15 made its first investment in Payble. Hard to believe it was just created out of thin air this week. X15 is not going to simply accept the need to make a payment for IP without it having been disclosed prior to its investment.

It's also possible that this "assignment fee" is replacing some sort of commission or royalty arrangement that was already in place ...

May be a cynical view, but I suspect that this price-sensitive announcement was dropped one day before the Rights Issue closes in a (desperate?) attempt to keep the SP above the rights price ...