As stated in previous announcements[IMG] 13th June 2017 Soar...

As stated in previous announcements

13th June 2017

Soar Labs Pte Ltd
The Investor will invest USD$5M, consisting of US$100,000 and the remaining US$4.9M investment being satisfied through the issue of 306,250,000 Soarcoins to the Company (at a value of US1.6 cents per Soarcoin).

This investment is for 49% of the fully diluted capital of the Company. The Investor will be issued with fully paid ordinary shares of the Company which will have the same voting rights and rights to dividends as all other ordinary shares.


In relation to the original agreement, they got back the 49% interest in BPPL, which is great.

- I believe the US$100,000 was received
A large portion had been sold off, as at January 3rd 2018 when the suspension of soar labs took place:
1. 179,183,168 held by the company (Amount suspended as quoted)
2. 34,602,426 held by the director (Amount suspended as quoted)
= 92,464,406 had been sold off at some stage

BPG Gets back the 49% stake in BPPL

So along with getting back full ownership and the payout to Alvin and BPPL may seem low, they also had sold off almost 1/3 of soar coins.

I would think between the cabbage they made then and this payout, its worked out alright in the end.

Just a really unfortunate situation, i would hope that things are able to move forward now, although from that article that was posted, AFP are debating whether to charge Soarlabs, which would be interesting.

B