TAP Real Estate Technologies Inc (RWAX)

[TenKay]

Once again…look at the 10K. Let’s focus on the Pref C

The number of Pref C’s outstanding at 12/31/24 was 12,350. That is $12,350,000 worth. None were converted in 2024.

In the subsequent events section they disclose that between January 1, 2025 and May 9, 2025 3 Billion common shares were issued for the conversion of Pref C stock. We don’t know how many Pref C shares that was because the price basically dropped between Jan 1 and May 9 and they didn’t tell us. We will get a little insight in the 10Q through March at least in the share accounting disclosure and then some addition info in the subsequent events section…so we will see.

But let’s use an average of $0.0006. That means those 3,000,000,000 common shares were issued for $1,800,000 of the Pref C or about 1,800 Pref B shares. You can do the same math at an average of 0.0007 or 0.0005. Even at 0.0009 it is only 2,700 of the 12,350 C shares outstanding.

That’s the math. The “share equivalent” calculation at 12/31/24 is meaningless after that date. And there is no way they included all the Pref C’s in it because even at $0.001 the 12,350 C shares would convert to 12,350,000,000 common shares alone.