ITRK as of the last Q has 69,753,397 shares o/s. The CEO currently owns 60 million common shares and 100% of or, 1.7 million series A preferred which, convert into 170m commons
That would be approx. 240m shares on a fully diluted basis outstanding. ITRK management and shareholders will keep 17% of that which is 40.8 million shares fully diluted.
If they plan on converting the preferred, we do not know yet.
But with ITRK owning 17%, Loop management will be the controlling officers and Loop Media Inc will become a sub of ITRK
It looks like when they close, Loop management and employees will own 199.2 million shares and ITRK management and current shareholders will own 40.8 million shares, all on a fully diluted basis...
Comments and corrections welcome
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