I did some very rough/general math regarding the share structure following the IceLounge Media assets purchase. The purchase agreement also provides some information on the three planned financing rounds. Combining the share structure info along with the financing info can give you a very general idea of what price(s) the financings will done at.
Assuming that TGFN doesn't make any share issuances other than those connected to debt conversions, the planned financings, etc then it looks like at least two of the financings would probably be at premiums to the current price.
On a fully-diluted basis (debt conversions, warrants, bonus payments, etc) I figure there were around 32M shares outstanding. There will probably be around 6.3M following the split and assets purchase.....
32M/10 = 3.2M 3.2/.51 = 6.3M
The language in the initial round doesn't make it entirely clear, but for conservative purposes I will assume that the .03 price is post-split, and I will also use the max dollar amounts in all three of the financings......
a. Initial Round (“bootstrap”) of $50,000 (min) – $100,000 (max) from friends & family at $0.03 per share (adjusted for splits) within 45 days of Closing.
b. Series “A” Round of $250,000 (min) - $500,000 (max) within 120 days of Closing at a minimum valuation of $3,000,000.
c. Series “B” Round of $1,000,000 (min) - $3,000,000 (max) at a minimum valuation of $8,000,000, date of delivery to be determined.
So, this is what the share structure would look like after each round, along with the financing price (post-split) of the last 2 rounds......
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