Good question. Apparently you cannot list simultaneously on the american and the DAX exchange KH mentioned in one of the CC's, and so that is why they are spinning out Graff and leaving SDVI in america. That way, if they decide to, they can pursue uplist in america under SDVI and still get IPO cash from DAX for Graffiti (funneling some of that IPO cash from Graff into SDVI via royalties). He's keeping both options open by splitting, although in the CC he stated that the Graffiti spinout was one of the CONDITIONS of the $360M hedge fund company, so the Graff IPO is being done in part because he is being forced to (not that it sounds like a bad idea on it's own). My guess is the Hedge fund wanted control of SDVI in exchange for the acquisition line of credit, KH said no way as he doesn't want to sell everything out and then get canned while someone steals his baby, so they come to the amicable agreement of putting basically everything into the Graffiti spinout (which the IPO preffered/majority shares would then assumably be taken by the Hedge Fund) and KH gets to keep control of SDVI with a percentage of the royalties from SDVI. The exact ownership of Graffiti is unknown, but it's possible that Ken may be CEO but not majority shareholder. This isn't a private company; CEO's can be fired by shareholder's if they feel it's in their best interests, so he knows that the Graffiti spin is a risk to his position in that business and wants to make sure that he gets good cashout for the SDVI shares just in case.
Just conjecture, mainly for entertainment purposes.
Saredi
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