Ok, so how would the JV actually work in terms of the number of shares on issue?
We currently have approx 100m shares.
For the private investor to earn 50% of the company (by 30 Nov 2017) TMZ has to issue another 100m shares @ $0.03 = $3m. On 30 Nov 2017, total shares = 200m, of which 100m (or 50%) are owned by the investor.
For the investor to earn a further 25% of the company (by 1 Oct 2018) TMZ has to issue another 200m shares @ $0.11 = $22m. On 1 Oct 2018, total shares = 400m, of which 300m (or 75%) are owned by the investor.
Is this correct? Assuming no other significant share issues of course.
TMZ Price at posting:
5.8¢ Sentiment: Hold Disclosure: Held
(20min delay)
