So We valued the preferred stock at its stated v
Post# of 39368
Posted On: 12/18/2012 2:02:46 PM
So
We valued the preferred stock at its stated value of $5 per share. If the preferred share tranche does not convert, then the Company has an obligation to repay the stated value of the preferred shares to the shareholder.
Based on the above consideration paid, we valued the properties acquired at:
| Initial cash paid | 50,000 | |||
| Note payable in 12 installments | 300,000 | |||
| 6 million shares of common stock | 83,400 | |||
| 36,000 shares of Class A Convertible Preferred shares | 180,000 | |||
| Total value of consideration paid | $ | 613,400 |
can anyone explain this ?
Its from page 29 and 30 of the annual report
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