It is substantially less....be it that the valuation will be changing among other:
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 27.5% of the outstanding equity in WSCG with a value of approximately $17,000,000. Upon transfer of the HoldCo Units, HUMBL will own 100% of HoldCo. HUMBL intends to keep a portion of the HoldCo Units to maintain exposure to WSCG’s performance and the HUMBL assets purchased by WSCG. HUMBL will also offer to exchange some of the HoldCo Units to its debtholders and holders of Series C Preferred Stock as a way to eliminate debt and reduce potential future dilution to common stockholders. Within 60 days of the closing date, the principals of WSCG will transfer real estate assets with a value of at least $45,000,000 to WSCG. The transfer of the HUMBL assets to WSCG will not take place until 20 days after the first mailing to the HUMBL shareholders of a Definitive Schedule 14C with respect to the transaction. .
They gave up over 75% of that original 27.5% stake in WSCG. The original valuation decreased by $45 Million. It's just a shell game...ie social trader..lol.
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