Ann: Acquisition of Lincd HQ Pty Ltd, page-2

Are these guys serious with this acquisition?

Blockchain was the flavour of the month over 12 months ago. 

How that helps us generate revenue in ecommerce is beyond me. 

Even more concerning is some of the targets can be met by selling of digital currencies, how much of this is on hand at the time of purchase? Not enough to pay back the $250k loan to FGF by the sounds of it!!

The FGF update in September last year gives a good summary of the LINCD business. 

What did FGF acquire their 100% equity position for? $1,000 cash and a $250k loan (charging 10% interest)

What did they sell LINCD for? According to their announcement, $2.45m is the value to FGF if all the shares and options are exercised. They also get priority repayment of their loan (+10% interest I gather) on the first $250k in revenue generated. And the cost of the acquistion to HT8 is higher when you throw in the KP shares and options......

At least FGF were happy to announce to the market information which our MD, Chairman and Directors have not been willing to which is what the HT business currently looks like following the disposal of Anyware division...........with the announcement stating that we have revenue over $10m with a customer email database of 70,000. 

Why not go out and acquire a viable business?

Muppets.