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Friday, July 10, 2020 5:34:16 PM
The way I understand it, the 4.9% of O/S limitation is not a one time thing. As long as White Lion resells the shares that Verus sells to them, they can own 4.9% of the then O/S many times. For example, right now Verus can only sell up to 127M (4.9% of 2.594B) shares to WL, but as soon as WL sells those shares Verus could sell them another 133M, and then another 139M, and so on until they have received a total of $5M from WL.
Again, though, the agreement is most beneficial to both parties in a rising share price environment; WL can be assured of selling at prices higher than they where they purchased and Verus will have to sell fewer shares to WL. So, let's hope the good news starts flowing again and the share price keeps rising.
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