Spongemen, I'm not going to pass judgement on if Matt got a good deal or not but will give you my thoughts. And I will preface this by saying I have faith in Matt to get us a good deal or I wouldn't be heavily invested here.
We paid $800,000 for 51% of Stellacure. They have about 60% of the samples Biocells has and also had about 60% of the revenue. So Biocells has about 40% higher annual annuity revenue. Biocells is also profitable which Stellacure is not. Since this contract is incentive based future performance will impact the payout. This tells me Matt is happy with the prior management running the company. For Stellacure we had to hire a new GM. Here we don't. Also, Biocells has there own storage facilty which just opened earlier this year. Stellacure uses The German Red Cross for storage. On top of all that, Stellacure has done little to expand across Europe and Biocells is already in five plus countries.
You'll have to make the call on if we got a good deal or not.
Don't worry about the mule going blind just load the wagon.
