Ann: Songtradr converts Tranche 1, page-13

I think you've significantly overstated Songtradr / related parties potential ownership of the company, with no future dilution except via Songtradr's Tranche 2 my calcs are as below table. Note I have seen Tranche 2 listed as 210,476,191 shares, however by my calcs that's wrong and for the sake of this doesn't make a material difference.



I also suspect about 33mil of the options are in the money or guaranteed issue, further reducing Songtradr's %age hold, as well as a likelihood for further acquisitions and funding pre 2025.

You also have to note, the CEO has a significant personal stake from selling Vampr with 22,905,968 shares, and director Ken G also recently upped his hold to 14,504,807 shares.

I don't disregard your views, but in the event Songtradr does want 100% of Jaxsta, I view it as an incredibly remote chance that it doesn't play out very favourably for Jaxsta shareholders.