Good morning folks. It seems the significance of this has been completely overlooked. Whilst the scavengers on here were almost rabid regarding the resignation of the CFO, this huge moment in the company's history has faded into oblivion. Capricorn have now officially given up their rights to any payments or SaaS revenue that would have otherwise been derived from their rebates.
What does this mean? It means they have given up tens to hundreds of millions of dollars in revenue over the term of their contract, in return they receive 100 million options, exercisable in 12 months at 0.0175. For Spenda this means $1.75m when these options are exercised - nice, but insignificant in the larger scheme of things.
But for Capricorn? Well they obviously believe their return on these exercised shares will be of more value to them than the potentially hundreds of millions of dollars they would have received as part of their rebates for either payments or SaaS fees. For 100 million options.
For them to be happy with this, they obviously anticipate there being a $$ sign in front of the share price at some point in the future.
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