BPG 0.00% 0.9¢ byte power group limited

If you look back at the actual agreement for the soarlabs...

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    If you look back at the actual agreement for the soarlabs distribution. Without prejudice - Phua came up with a bizarre calculation that had him receive a large chunk of the proceeds so every time there is a payment or distribution, I think he gets (by memory) 60+%.
    I wrote to ASIC on the maths which I posted many, many mths ago and I complained that their calculation was wrong. I don't know what ASIC has done with that complaint. They did call me and I clarified the position with them but they don't tell you the outcome.

    This was all so long ago now. The upshot is, BPG might end up with a bit of cash so they can turn the electricity on but I wouldn't put it past them to distribute the proceeds through another bonus issue to directors or something.

    In my opinion, the company bank account will see very little of that distribution (post sale of the ripple coins)

    As always, the above is IMHO and DYOR
 
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