Here is the key statement:
Each Share of United Common Stock, par value $0.001 per share, issued and outstanding immediately prior to the Effective Time, shall be cancelled and extinguished and converted automatically into the right to receive an amount of cash equal to the quotient obtained by dividing (i) the sum of (A) the Merger Consideration, less the Aggregate Preferred Stockholder Payment, and (B) the Aggregate Option Exercise Price by (ii) the sum of (A) Aggregate Common Shares and (B) the total number of United Options (which quotient is the “United Stockholder Per Share Payment”). Set forth on Schedule 3.1(a) are the names of each holder of United Common Stock and the number of Shares owned by each.
There are 167,000 preferred shares that will be redeemed for cash at $1.85 per share.($308,950). PLUS
divide by 3,269,111 options at prices of 2 cents, 4 cents and 11 cents. I am Unable to determine how many at each price. However assuming (never assume) a little over 1 million in each category, then about $185,250 ($21,794..+$43,588..+$119,867)
DIVIDED by 7,100,899 shares
So...$10,778,950 minus $308,950 + $119,867 or $10,350,113
So $10,350,113 divided by 7,100,899 = $1.46
Anybody care to double check these numbers, I need a drink!
