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Cobby

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19

05/03/21

16:19

Post #: 51556980
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Originally posted by EWexplorer: ↑

The GM is on March 2 (Tuesday) so I'm doing a little digging. I note the bellow from the Annual Report.

Looks like there were 42m performance rights issued on the formation of the new company - mostly to Alex Keach
And a further 131m likely if performance goals are met as per the "consideration" bellow. (Looks like 1 right = 1 share)

Looks like roughly 661m shares on offer now + 100m for the Murray Meds deal + 174m via performance rights (if all achieved) plus options ... so roughly 934m shares in 4 years.

Therefore a Market Cap of say $250m will create a SP of 26c, or a MC of $400m SP at 42c.

In four years if the goals are hit. Interesting.

Still - nice to have clear targets ... this has really helped define my approach to owning ECS shares.

Contingent Consideration
During the period the Group assessed the probabilities of the contingent consideration being payable with
respect to the reverse asset acquisition of ECS Botanics Pty Ltd occurring on 11 July 2019. The consideration
comprised of:
131,250,000 Performance Rights that were issued as part of the Acquisition Consideration.
The Performance Rights vest subject to the below revenue milestones:
43,750,000 Performance Rights (‘Milestone A Performance Rights’) will convert into Shares upon ECS achieving
an annual revenue in any financial year of $1.00 million within two years of the Company’s readmission.
43,750,000 Performance Rights (‘Milestone B Performance Rights’) will convert into Shares upon ECS achieving
an annual revenue in any financial year of $2.50 million within three years of the Company’s readmission.
43,750,000 Performance Rights (‘Milestone C Performance Rights’) will convert into Shares upon ECS achieving
an annual revenue in any financial year of $10.00 million within four years of the Company’s readmission.
Management have applied judgement to whether the achievement of the milestones are possible. While the
achievement of the milestones is possible, it is currently not probable and so no value has been ascribed to them
and that these will be reassessed at each reporting period.

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Media article from the Age which has a section on ECS.

https://www.theage.com.au/national/victoria/hemp-farmers-hopeful-miracle-plant-can-shake-stigma-and-shine-20210304-p577pn.html

ECS Price at posting: 6.3¢ Sentiment: Buy Disclosure: Held
14 Upvote

1 Great analysis

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(20min delay)
Last 1.8¢		Change 0.000(0.00%)		Mkt cap ! $23.19M

Open	High	Low	Value	Volume
1.8¢	1.8¢	1.8¢	$669	37.18K

Buyers (Bids)

No.	Vol.	Price($)
11	3818712	1.7¢

Sellers (Offers)

Price($)	Vol.	No.
1.8¢	1000000	1

View Market Depth

No.	Vol.	Price($)
11	3818712	0.017
17	4460363	0.016
14	6460973	0.015
6	1891428	0.014
8	1707819	0.013

Price($)	Vol.	No.
0.018	1000000	1
0.019	1279773	4
0.020	818251	8
0.021	1585441	5
0.022	920000	4

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