No worries! Copied from the 18/6 announcement:...

No worries!

Copied from the 18/6 announcement:
https://hotcopper.com.au/threads/an...nd-successful-placement.4250946/#.W5nLYpMzZIY

● an up-front cash payment at completion of $3.25 million (“Initial Consideration” subject to adjustment for working capital and non-trading debt;
● an amount equal to 1.5 x recurring revenue from Zunos products and services earned during the period 1 July 2018 to 30 June 2019 less the Initial Consideration; and
● an amount equal to 1 x recurring revenue from Zunos products and services earned during the period 1 July 2019 to 30 June 2020.

Last 2 points relevant as the first is subtracted out.

1.5x 3m ARR
1x 3m ARR
=$7.5m

Now I expect ARR to increase between now and June '19 and June '20 but as you can see ballpark we're looking at $7.5m plus integration costs which were flagged / budgeted at $3m I believe, which sounds like a lot but that's what I recall.

Also they agreed to settle some of these payments in shares which means hopefully our SP will be higher than 35c by then (CR amount).

Yes does look like a great buy, maybe you're right and their operation costs were high and BTH sees a chance to cut a lot of it out as they integrate etc. The sales pipeline was described as being decent too. I guess they wanted to sell.