Posted On: 06/04/2015 2:29:01 PM
Post# of 876
imo the shares issued were to pay off WOLV's own preexisting obligations -the 10Q notes a working capital deficit of 362k, an increase from 267k- detail in filings implies the increase is due to costs
to Bruce and texada- see former posts of mine which would include possibly attorney and accounting etc fees re the deal since i havent seen those specific fees noted anywhere
to set up this deal-which might be apportioned differently but wasnt- but the 267k was certainly totally WOLV's preexisting debt-and the 10Q forecast they would have to do this pp etc and pay off creditors so WOLV would have totally clean financials going into the closing of the deal w Enigma-which makes sense-they want to get rid of the baggage of pre-existing WOLV debt
shares issued to ca 24 people total for preexisting debt to those people, plus the pp -
not part of the 300 million shares to ENIGMA which are conditioned on Enigma raising 2.5 million -w the deal set to close ca june 20 if i remember-would have to look when i have more time but that may imply Enigma has to raise the 2.5 m by time of closing of the deal ca june 20 since ''The Agreement is subject to Enigma completing a financing of $2,500,000..'' would have to look when have more time
remember some filing forecast up to 150 million shares could be issued by WOLV to pay off this pre-existing WOLV debt etc
from 10Q
Subsequent Event
On April 14, 2015, the Company entered into a Share Exchange and Royalty Agreement pursuant to which the Company will acquire 25% interest in the process technology and cyber security company ENIGMAMobil Inc. (“Enigma”) for the purchase price of $3,000,000, to be paid in shares of common stock of the Company. The Company will also receive 25% royalty of all gross revenue received by Enigma from the sale of licenses of ENIGMAMobil™ mobile security app. The Company agreed to issue a finder’s fee consisting of 30,000,000 shares of common stock of the Company (the “Finder’s Shares”).The Agreement is subject to Enigma completing a financing of $2,500,000 and the Company increasing its authorized capital of common stock to allow for the issuance of the Shares and Finder’s Shares
to Bruce and texada- see former posts of mine which would include possibly attorney and accounting etc fees re the deal since i havent seen those specific fees noted anywhere
to set up this deal-which might be apportioned differently but wasnt- but the 267k was certainly totally WOLV's preexisting debt-and the 10Q forecast they would have to do this pp etc and pay off creditors so WOLV would have totally clean financials going into the closing of the deal w Enigma-which makes sense-they want to get rid of the baggage of pre-existing WOLV debt
shares issued to ca 24 people total for preexisting debt to those people, plus the pp -
not part of the 300 million shares to ENIGMA which are conditioned on Enigma raising 2.5 million -w the deal set to close ca june 20 if i remember-would have to look when i have more time but that may imply Enigma has to raise the 2.5 m by time of closing of the deal ca june 20 since ''The Agreement is subject to Enigma completing a financing of $2,500,000..'' would have to look when have more time
remember some filing forecast up to 150 million shares could be issued by WOLV to pay off this pre-existing WOLV debt etc
from 10Q
Subsequent Event
On April 14, 2015, the Company entered into a Share Exchange and Royalty Agreement pursuant to which the Company will acquire 25% interest in the process technology and cyber security company ENIGMAMobil Inc. (“Enigma”) for the purchase price of $3,000,000, to be paid in shares of common stock of the Company. The Company will also receive 25% royalty of all gross revenue received by Enigma from the sale of licenses of ENIGMAMobil™ mobile security app. The Company agreed to issue a finder’s fee consisting of 30,000,000 shares of common stock of the Company (the “Finder’s Shares”).The Agreement is subject to Enigma completing a financing of $2,500,000 and the Company increasing its authorized capital of common stock to allow for the issuance of the Shares and Finder’s Shares
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