Race Navigation may be deemed to beneficially own 14,837,514 Common Shares, representing approximately 11.2% of the outstanding Common Shares. This percentage ownership is based on 132,073,675 Common Shares outstanding, which is calculated for this Schedule 13D/A purposes by taking the sum of (i) 117,236,175 Common Shares outstanding and (ii) 14,837,500 Common Shares issuable upon the exercise of all of the 1,250,000 Warrants currently held by Race Navigation. Race Navigation has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 14,837,514 Common Shares. Race Navigation has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 14,837,514 Common Shares.
From 6k 1/25/2018
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