Apr. 25 at 12:27 AM
$RZLV Seems like Dan has been pillaging the company for a while.
10.4 On November 30, 2022, the Company awarded 27,246,461 ordinary shares at a fair value of
$1.20 per unit respectively to DBLP Sea Cow Limited (founding shareholder) in lieu of services to the Company which were vested and allotted on the same date. The Company recognized
$33.4 million as a general and administrative cost with a corresponding credit in shareholders’ deficit in the year ended December 31, 2022. The fair value of the ordinary shares was based on a Black-Scholes model using an average volatility of 61.9% based on a group of similar companies, a risk-free rate available on the issuance date, the exercise price of £.0001 per share, and the fair value of the ordinary shares of the Company based on a recent financing.
Keep in mind, Dan Wagner = DBLP Sea Cow.
Dan is also getting paid bonuses and a salary. Talking about enriching yourself. Not even Musk did that.