Replies to post #112713 on TAP Real Estate Technologies Inc (RWAX)

[samsamsamiam]

I assume Sapi had the same deal as George?


HUMBL, Inc.
On November 23, 2020 (closed on December 4, 2020), the Company and HUMBL Inc. (formerly Tesoro Enterprises, Inc) (“HUMBL”) entered into a Warrant Purchase Agreement (“Warrant Agreement”).
Pursuant to the Warrant Agreement, the Company paid $200,000 (cost of $0.0016 post split of HUMBL) to HUMBL to purchase post-split (effective February 26, 2021) 125,000,000 warrants of HUMBL at an exercise price of $0.20 per share, upon completion of the merger HUMBL and HUMBL LLC, a Delaware limited liability company.
The Company has elected to account for the purchase of this warrant as an investment under the guidance of ASC 321. The warrants are not traded on a national exchange, so do not have a readily determinable fair value as defined in ASC 321. The Company has elected to apply the measurement alternative discussed in ASC 321-10-35-2, and as a result will measure the investment at cost and remeasure to fair value if impaired or upon observable prices. Since inception of the investment on December 4, 2020, there has been no indication of impairment on this investment.

The HUMBL warrants do not trade on the open market, however as of December 31, 2020, the trading price of HUMBL was $0.6192, and $3.35 as of March 9, 2021. The value of these warrants upon an exercise have increased to a net return of approximately $52,400,000 as of December 31, 2020, and $393,750,000 as of March 9, 2021.



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https://www.otcmarkets.com/stock/FORW/news/Forwardly-Inc-Acquires-Warrants-to-Purchase-500-Million-Shares-of-Tesoro-Enterprises-Inc?id=282978

[samsamsamiam]

So Sapi spent $2.4 mil on 11 mil shares. He then proceeded to get his money back by selling them to a friend. Do you remember the price at the time of the sale?

Here is the cool thing. HMBL made $2.4 mil on 11 mil shares (including the $200k initial purchase of the warrants). Not a bad deal for HMBL. I am guessing that HMBL is looking forward to October when the rest of the warrants are converted for .20/share.

Yeah pretty damn cool deal.
Gee looks like at least George Sharp reversed that whole deal and got his money back. Of interest though is Charger/SAPI also is mentioned in that settlement agreement. What was his take? Obviously attached at the hip to George on all these deals.


https://www.sec.gov/Archives/edgar/data/1119190/000149315222032971/ex10-2.htm

…
5. Release of Claims and Other Representations by Forwardly. Upon execution of this Agreement and receipt of the Settlement Amount, Forwardly, on its own behalf and on behalf of its attorneys, and any affiliated and related corporations, firms, associations, partnerships, limited liability companies, direct and indirect subsidiaries, and affiliates, as well as their successors and assigns, and the current and former owners, members, managers, shareholders, directors, officers, employees, agents, attorneys, representatives, and insurers of any such corporations, firms, associations, partnerships, limited liability companies, and entities (collectively, “the Forwardly Releasing Parties”) hereby IRREVOCABLY AND UNCONDITIONALLY RELEASES, ACQUITS, AND FOREVER DISCHARGES EACH OF HUMBL, Charger Corporation, Louis Sapi and their respective attorneys, and any affiliated and related corporations, firms, associations, partnerships, limited liability companies, direct and indirect subsidiaries, and affiliates, as well as their successors and assigns, and the current and former owners, members, managers, shareholders, directors, officers, employees, agents, attorneys, representatives (the “HUMBL Releasees”), from any and all charges, complaints, claims, grievances, liabilities, obligations, promises, agreements, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and expenses) (collectively “Claim” or “Claims”) whatsoever, whether known or unknown, whether suspected or unsuspected, which they ever had, now have or hereafter can, shall or may have against any one or more of the released parties arising from or relating to the Dispute, the Warrant, the Warrant Shares and any and all facts and circumstances relating to the Dispute and the relationship of the Parties.





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Why do I get the impression questions are being asked about all these deals?