TAP Real Estate Technologies Inc (RWAX)

[TenKay]

“48.6% of USD17 Million is USD8.2 Million“

I believe the 48.6% represents the $17 million…it is not a percentage of the $17 million.

When they removed the $45 million real estate they had to bump up the % ownership of HOLDCO in WSCG to maintain the $17 million in value.

The value of the HoldCo Units held by the Company at the time of the acquisition by WSCG is $17,000,000 based on the percentage that HoldCo owns in WSCG based on the last valuation of WSCG. The Company agreed that WSCG would not contribute any real estate assets and WSCG would be solely a technology company in exchange for a larger percentage of WSCG owned by the Company through HoldCo.

The HoldCo Units represent approximately 48.6% of the outstanding equity in WSCG. Upon transfer of the HoldCo Units, the Company will own 100% of HoldCo.

That tells me the 48.6% represents the $17 million.

But that leads to other math issues…and unless there was some other asset to replace the real estate removed…they just goosed the value of the HMBL assets in WSCG (assuming those are the only assets that remained). And if that happened none of it went to HoldCo’s benefit.