HUMBL Inc (HMBL)

[samsamsamiam]

I assume Sapi had the same deal as George?


HUMBL, Inc.
On November 23, 2020 (closed on December 4, 2020), the Company and HUMBL Inc. (formerly Tesoro Enterprises, Inc) (“HUMBL”) entered into a Warrant Purchase Agreement (“Warrant Agreement”).
Pursuant to the Warrant Agreement, the Company paid $200,000 (cost of $0.0016 post split of HUMBL) to HUMBL to purchase post-split (effective February 26, 2021) 125,000,000 warrants of HUMBL at an exercise price of $0.20 per share, upon completion of the merger HUMBL and HUMBL LLC, a Delaware limited liability company.
The Company has elected to account for the purchase of this warrant as an investment under the guidance of ASC 321. The warrants are not traded on a national exchange, so do not have a readily determinable fair value as defined in ASC 321. The Company has elected to apply the measurement alternative discussed in ASC 321-10-35-2, and as a result will measure the investment at cost and remeasure to fair value if impaired or upon observable prices. Since inception of the investment on December 4, 2020, there has been no indication of impairment on this investment.

The HUMBL warrants do not trade on the open market, however as of December 31, 2020, the trading price of HUMBL was $0.6192, and $3.35 as of March 9, 2021. The value of these warrants upon an exercise have increased to a net return of approximately $52,400,000 as of December 31, 2020, and $393,750,000 as of March 9, 2021.



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https://www.otcmarkets.com/stock/FORW/news/Forwardly-Inc-Acquires-Warrants-to-Purchase-500-Million-Shares-of-Tesoro-Enterprises-Inc?id=282978