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Tuesday, March 20, 2018 11:14:39 PM
On December 13, 2017, the company signed a definitive exclusive master marketing agreement with BizRight Hydroponics Inc. the term of the agreement for the period of 20 years. BizRight will be compensated with both cash and restricted common shares. Effective date of the contract Bizright will be compensated with 200,000,000 restricted common shares in lieu of first initial payment of $2,000,000 and $2,000,000 cash upon first major funding and $4,000,000 due upon second major funding, the maximum share earn out is 450,000,000 total based on monthly revenue of $2,500,000 or $30,000,000 annualized. The fair market value of 200,000,000 restricted common shares at grant date was $16,800,000.
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On December 13th the share price was 0.084
200M shares given
250M additional shares to be given based on performance as stated above
That's 450M shares to be added to the OS.
"On March 19, 2018 there were 247,395,774 shares outstanding of the issuer’s common, the only class of common equity. This amount does not include shares to be issued."
Approx. 250M + 200M (1st BizRight compensation) = 450M OS
450M + 250M (remainder of BizRight compensation) = 700M OS
Current AS = 300M
AS to eventually increase to 1B
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I'm estimating that BizRight will do 40M
SGMD compensated BizRight with 450M at 0.084 = 37.8M + 6M cash = $43.8M
SGMD paid $43.8M for BizRight
https://backend.otcmarkets.com/otcapi/company/sec-filings/12634231/content/html
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It's basically a MERGER OF EQUALS, with a BizRight (LARGER company) getting a slight advantage
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Now ask yourself this question
Why did BizRight (LARGE company with 30M+ revs) want to merge with SGMD ( 4.7M LOSS)?????
Answer:
BUDLIFE!!! BUDLIFE!!! BUDLIFE!!!
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VERY EXCITING TIMES
STAY TUNED
$SGMD
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