This is pretty easy to understand. They got the stock from the PO (which gave them the "bonus" warrants). Unless the PO was amended, VERB received 20 million and paid 25 million for SC.
" Sound Concepts Shareholders purchased an aggregate of $4,000,000 of units in our Public Offering at the same price and upon the same terms and conditions as all other investors who purchased units in our Public Offering."
The cash payment consisted of an aggregate of $15,000,000 (the “Acquisition Cash Payment”), which was paid using a portion of the net proceeds VERB received as a result of its recent public offering (the “Public Offering”) of units that closed on April 9, 2019, which closing was announced on April 12, 2019. $4,000,000 of the Acquisition Cash Payment was immediately
This DIRECTLY contradicts your scenario:
If SC wanted to participate in the PO they could have asked for less cash and accept stock in it's place, which is exactly what they did