Alset Inc (AEI)

[powerbattles]

That is because virtually nobody understand his plan and comprehend the benefit. Keep in mind the company own 41.3% American Pacific Bancorp. Chan Heng Fai, our Chairman and CEO, is the executive chairman and director of AMRE. DSS, of which we own 45.2% and have significant influence over, owns 80.8% of AMRE. Therefore, the Company has significant influence on AMRE and DSS.

However, a spin-off of American Pacific Bancorp could actually happen more quickly as it is a far less complicated entity and the spin-off could be executed sooner than Impact. Management believes the bank could file and be spun off by the end of the 2022. We expect it would be valued at the typical four to five times loans outstanding for commercial lenders, which currently stand at $40 million thus valuing it at $160 million to $200 million. We believe it is earning approximately 10% on average on its loans. DSS’s current enterprise value is now $65 million.

A spin-off of American Pacific Bancorp

American Pacific Bancorp, Inc.
Pursuant to Securities Purchase Agreement from March 12, 2021 the Company purchased of 4,775,523 shares of the common stock of American Pacific Bancorp Inc. (“APB”) and gained majority ownership in that entity. APB was consolidated into the Company under common control accounting (See Transactions between Entities under Common Control for details). On September 8, 2021 APB sold 6,666,700 shares of Series A Common Stock to DSS, Inc. for $40,000,200 cash. As a result of the new share issuances, the Company’s ownership percentage of APB fell below 50% to 41.3% and the entity was deconsolidated in accordance with ASC 810-10.