Feb. 24 at 3:45 AM
$GNS What happened to the 1.8 million ERL shares that were exchanged for
$5 million of debt? Why does it only say there are now 748K ERL shares? 🤔
"On January 2024, the Company entered into an agreement to acquire 1,817,981 shares in Entrepreneur Resorts Limited at a market value of
$2.75 per share. The total cost of acquiring the shares was
$4,999,448 which was paid by
$3,999,448 via receivable offset and balance of
$1,000,000 by cash paid over a period of time during the year 2024.
As of December 31, 2024, the shares of Entrepreneur Resorts Limited was trading at
$0.76 per shares and the Company has revalued the investment by using the fair market value approach as of December 31, 2024 and booked the unrealized loss of
$3,617,782. As a listed Investment, the share price of ERL are expected to be volatile and are subject to bring fluctuation in the share price."
