But that is not how VERB filings describe it. They paid $15 million to SC...and if SC bought the offering stock directly from VERB under the offering by returning $4 million of the cash and not from AGP then AGP only purchased $16 million worth. But the offering and prospectus say $20 million.
And there is no way the company issued an additional $4 million in free trading stock above the offering.
Something is seriously screwed up.
By SC buying stock from the offering with money that came from AGP they are ONLY returning money to AGP.
I can’t wait to see the accounting for this...or the revised post effective S-1/A that Rory will be have to file.
The company does not end up with an “extra” $4 million in working capital out of the offering...the math simply doesn’t work if the offering stock was $20 million worth.
Read the blooming PR. It says directly they gave the SC owners $15M. THEN, those owners “immediately” used part of the $15M to but units from the offering.
Yes, Cuin, that is exactly correct.... others are having trouble understanding. This was a good thing for Verb and a big vote of confidence that SC wanted 4 Million in stock that was part of the raise! That will come back to the new verb in motivation and trust. "time to get to work and make this a multibillion dollar company" is what is being said inside the conference room of the new combined entity. They know it. Some of us know it. Some traders don't want to know it.... this has been too easy to "play" for them and they are greedy and want more. You've got to know when it is time to go though.... and it is time for them to go or get burned IMO. VERB is the real deal. Bigger people than us think so and so it will be...
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