Friday, May 26, 2017 3:05:03 PM
After giving effect to the sale of 147,000,000 shares of common stock to the Selling Shareholders through the Third Closing, and at an assumed average sale price of $0.0050 per share (the closing price of our common stock as of May 23, 2017 ($0.0099) at a 50% discount), our pro forma as adjusted net tangible book value as of December 31, 2016 would have been approximately $74,296, or $0.0002 per share of Common Stock. This represents an immediate increase in pro forma as adjusted net tangible book value of $0.0024 per share to our existing shareholders and an immediate dilution of $(0.0048) per share to our new shareholders.
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