From today's 8-K.
On July 15, 2020 the Company entered into an agreement to purchase all outstanding shareholdership interests of Monochrome Corp. for 40,000,000 shares of Firma Holdings Corp common stock. Included in the purchase agreement are certain claw back provisions of the above shares should Monochrome Corp. not attain specified gross revenue targets. On October 15, 2020, the Company finalized the acquisition and commenced integration of business operations.
At today's sp, that's a $600,000 valuation.
It states that if MC doesn't attain revenue in excess of $1.5M within it's first year, MC will return 7,500,000 shares. What if it doesn't attain any level? Dufort just keeps the other 32,500,000 common?
Last we knew when MC was part of Dufort's other company, IDGC, MC provided so little revenue (perhaps none) to their 2018 earnings that they discontinued it's operations.
Monochrome Corp. – Monochrome is unique and current in today’s marketplace. Monochrome’s business model incorporates two
high-growth markets to create an exciting multi-channel business opportunity within IDGC’s distribution network. This includes
traditional brick-and-mortar channels as well as by Monochrome’s utilization of e-commerce technologies and emerging pipelines to
capitalize on the new developments in today’s CBD market. (DISCONTINUED OPERATIONS UNDER IDGLOBAL CORP.)
But apparently, now MC is a FRMA company under Dufort. And he's giving himself 400M shares of common for it. Are they even restricted? Is MC selling product? Is Dufort going to suck as much cash out of FRMA shareholders as he can, leaving another no bid ticker in his wake?
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!
