Not that I'm trying to make excuses for BPG's failings, but the...

Not that I'm trying to make excuses for BPG's failings, but the initial deal of June 2017 with Soralabs had $4.9m payable to BPG in Soarcoins.

The consideration price of the Soarcoins back then was 0.016 USD/Coin

At their peak they were around USD 0.036 and Phua was off loading (at untenable rates) at a profit....

now....



so those 801,392 Soarcoins not given by Soarlabs in this announcement are worth a dismal $1k USD to BPG.



Part of BPG's failings could be attributed to Soarlabs / SoarCoin failings (and the crypto industry in general over the past year). Should the crypto market not "crashed" in early 2018, BPG would have been in a much better financial position following the Soarlabs out of court settlement, with payments they received in Soarcoins.

Still, Phua would probably have just dumped the Soarcoins and crashed the price anyway.