Ann: Songtradr converts Tranche 1, page-9

I spent some time on this a long while back now, coming to the conclusion all the incentives make much more sense to see Songtradr want JXT to succeed.

- Paul Wiltshire, CEO put ~$500k of his own cash into JXT.
- Songtradr appointed 2 directors to JXT, they are paid in equity (maybe small cash component).
- Richard White, recently put something like $2mil into JXT at 4c (from memory). Richard White also owns a stake Songtradr.
- Songtradr purchased Vinyl.com (quite expensive) and have leased it to Jaxsta with the option for Jaxsta to buy it.

If you do the math on Paul and Richards stake in JXT, vs Songtradr acquiring it for as little as possible. It's well against Richard and Pauls personal interest, as well and Ben Katovsky and Steve Gledden to see Songtradr take it over for peanuts, and far more likely Songtradr is an ally.

Agree with Starr, they've had ample opportunity to take Jaxsta out 100% if that was their agenda.