RE: Series B Funding14 Nov 2018 22:32
Rich,
I normally like to hear both sides of opinion but I think you've dropped the ball on this one...
The answer to your question is in my opinion held in the RNS and the author went to the trouble of even specifying an older connected RNS.
So, lets take a look at the RNS from today and see if we can clear this up.
"FastForward has a current equity interest in Factom of 2.06% and an investment of US$6million under a SAFE Agreement (see terms as announced on 23 July 2018)."
So FFWD hold more than 2.06%, they also hold a percentage yet to be finalised. The clue is the reference to the RNS dated 23 July 2018.
Let's take a look at that RNS.
The important reference is listed near the top of the RNS, it reads "Initial US$6 million investment into Investee company, Factom Inc.", the important word being "initial" and then to the middle of the RNS where it states
"We look forward to updating the FastForward shareholders regarding pricing and other Series B terms later in 2018"
Readers can draw the conclusion that the SAFE agreement has not finalised after the "initial" release of information and therefor the final percentage owned by FFWD is only and still referenced as "of 2.06% and an investment of US$6million", the terms are yet to be concluded.
It was not because the author of the RNS was being lazy or made a mistake, rather, that they are being technically correct. The answers are in this RNS, you may not have read both?
Once Series B has concluded the final percentages of investment ownership will be publicly announced.
Patience and reading the RNS's in full will give you the answers I feel.
GLA