TAP Real Estate Technologies Inc (RWAX)

[TenKay]

I have way underestimated the value of the Pref B conversions. I went and looked at the number of common shares issued for the conversions by quarter since Dec 2021 when it started. I then multiplied that amount by the lowest share price of that quarter for the low end and the midpoint price for that quarter for the high end. I only went as far as Q3 2023 because the conversions fell way off.

The result?

Foote’s family, friends, insiders and partners cashed in between $60,000,000 and $110,000,000 worth of Pref B stock.

That is astounding.

The share price during that exact same period…Dec 1, 2021 through Q3 2023 dropped from $0.4153 down to $0.0013. That is a 99.7% drop.