SP1 0.00% $1.07 southern cross payments ltd

Ann: iSignthis and NSX Limited enter into ClearPay Joint Venture, page-124

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  1. 290 Posts.
    lightbulb Created with Sketch. 37

    Need to get some help to get my head around this. So ISX paid 4.2M to have 12.96% of NSX.

    NSX invest 3.2M for 41% in ClearPay, then 1.3M for additional 9% for the total of 50% ClearPay ownership.


    So:


    1. ISX now is 12.96% owner of NSX, 59% ClearPay for now.
    2. NSX for now, took ISX money and then put it in ClearPay, and have 41%.
    3. ISX will provide IP, then indirectly get paid from ClearPay (Probanx will design and develop the platform for a fee)
    4. NSX puts money in for ClearPay. (Well, more like they exchange their share for ClearPay. After all, the sum of money required is almost coverable from what ISX gave them)


    Why do ISX needs NSX to be in the ClearPay? Is it because ClearPay first user will be NSXA?


 
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