All good points. Thank you.From my perspective, it seems pretty...

All good points. Thank you.

From my perspective, it seems pretty obvious that Songtradr do want to take out 100% of Jaxsta, as they have done several times with other acquisitions. It's a very clear fit for their ecosystem.

JXT has an exceptional business model... and I mostly agree Songtradr are an ally, and clearly want JXT to succeed. I just suspect they like it so much, they want the whole thing.

Wiltshire & White do have personal holdings, so you could argue they would want a fair price. But how does that compare to the value of their Songtradr holdings, and the added value of Song owning all of JXT (particularly once it's both profitable & growing quickly)?

Maybe the reason why Songtradr didn't take out JXT in Sept 2020 when they bought the Convertible Notes, was because the Equity would've cost them >$7m (probably a lot more)... and JXT was losing $10m-$15m per year.

By using the convertibles they got to wait and see how profitability developed, later influencing it with their own growth plan & directors when operating costs were moving in the wrong direction, and still convert for the same price as when the Notes were inked (later reduced even further from $0.035 to $0.021 with the 2nd Tranche), including a whole bunch more shares to cover the 7.5% interest.

When I look at the Convertibles... and the holdings of the various related parties... it looks to me like Songtradr basically already own this. It seems a formality.

To my mind, the only unknown is what price they end up paying for control, should they need some extra shares to get them over the line. And the JXT release of 4th April 2022 did say "Songtradr will hold a relevant interest in Jaxstaʼs securities of up to 53.81%"