RE: napster token25 Jul 2022 12:50
morning wall and floor.if you look back to horses gob's post on the 30th jun he has posted a copy of the info he had from lloyds, which sets out matters fairly clearly. in essence we have had an initial payment of $6.06m us pro rata to our holdings.so you should have received the appropriate amount relative to the number of shares quoted by you. the payments have been made at different times by different platforms/brokers,but it has been a while since anyone said they were still waiting for payment,so i expect you've had yours by now,so check with your provider.next we are due a pro rata share of $5.7m us to be paid after the anniversary of the deal (30th march 2023). this will be subject to certain possible deductions for the contingencies against which those funds have been reserved,so not a lot probably at end of the day .finally(and this is the big unknown) if napster launch the new proposed token by the 30th march 2023,we will get a percentage of the tokens issued ,again pro rata to out holdings.if they don't launch by then we get a share in $25m us instead (so a more significant amount). the problem for some may be if they do launch the token (and my view is that they will, but that is just my personal opinion based on algorand's activities in the crypto sphere) then it's down to whether individual holders platforms,which don't have a crypto dealing facility,can accommodate the issue of tokens to ensure we don't lose out (if the crypto are launched there will be no cash alternative). HL,my own platform,is currently looking into this. so in my view the outcome is a bit better than we might have hoped before delisting,and depending on what happens with the crypto,it may be even better,but still,im afraid, not the best investment i have ever made! hope this helps
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