Yup: Re SOAR Coins - I was thinking the same about the price. They’d probably hang on to them and sell at the peaks, mind you - I believe it was worded that the Directors would be issued / paid out in SOAR coins (not convert SOAR to AUD cash and pay out). Hence they used and average SOAR value to determine the number of coins. Cheeky Indeed.
If the price of SOAR went up, which I expect it will following the launch of the Crypto Exchange, then they’d be looking at more. They’d be a bit stupid to sell them now, given that SOAR is one of the first currencies to launch on the Exchange.
I voted yes on this, partly because the deal in June – worth $5mil then, is now worth $8.3mil at current SOAR rates, so the deal pays for itself to some extent, and that it’s good to get rid of this ‘outstanding debt’ owed to Directors - stop them holding company interests to ransom over back-dated pay later on.
The – 830 mil (correction to your stated 930 mil), that is a massive No Way IMO – I hope this doesn’t get up. Even at 75% of the 15 day VWAP – they’d be valued at $4,565,000 (830,000,000 shares x $0.0055). That’s one heck of a bonus (split 600m to Alvin, 200m to Raphael and 30m to Yano). Ridiculous. Us shareholders would take the hit, imagine if they were dumped on the market once issued.
I’ve voted No on this. Perhaps a stupid question, but I can’t tell if the voting on the Resolutions are weighted based on holding size or simply number of yes/no votes? Do you think there’s a chance this will get voted down? I know there’s a few on HC that submitted No Votes.
Will have to research those top 20 Shareholders, see how they’re connected
Cheers
MSN
BPG Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
