The $50M isn't pertaining to the IPO per se. An IPO is used to take the company public, but this type of offering is used by private companies to sell shares directly to the public...because they are a private company.
I think the confusion is that MJLink has a board and everywhere you look, they keep saying that it's a wholly owned sub of Social Life. I'm still trying to find exactly, in writing, how they tie together.
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