Yes, it's a shame there wasn't a ceiling price.. But, it does sound like they needed/wanted what the app had to offer & didn't want others to have access to it.. According to the AGM CEO address, the deal was negotiated just prior to Tipsley's imminent launch in the USA.. Now we can't be certain what they meant by "launch", but if you have a quick look at a company like THRED (ASX.THD), you'll see it's valued at over $10m and at one stage was even double that.. So we may have actually got a good deal with Tipsley (moreso if the share price of BIG hadn't risen so quickly).. Time will tell.
https://www.asx.com.au/asxpdf/20171120/pdf/43pd3rzqpkvk18.pdf
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