Crossgate Capital

[Sideshow Bob]

Beyond me.
Nothing seems to make any sense to me.
Totally off my radar now..

I know you've been busy on Unlisted and follow a number of companies - understand your stance! I don't understand either......

Investing 101 if you can't understand (or in this case can't understand how its valued) then don't invest in it.

[Tony Two Gloves]

I know you've been busy on Unlisted and follow a number of companies - understand your stance! I don't understand either......

Investing 101 if you can't understand (or in this case can't understand how its valued) then don't invest in it.

I wonder if this answers our queries?

NOTE 8: SHARE CAPITALThe Company has 97,000,000 Class A shares on offer of which 590,127 (2020: 185,880)have been issued and 3,000,000 Class B Shares that have been issued to the foundingshareholders. Both Class A & Class B shares have no par value.
NOTE 8: SHARE CAPITALThe Company has 97,000,000 Class A shares on offer of which 590,127 (2020: 185,880)have been issued and 3,000,000 Class B Shares that have been issued to the foundingshareholders. Both Class A & Class B shares have no par value.

[Sideshow Bob]

I wonder if this answers our queries?

NOTE 8: SHARE CAPITALThe Company has 97,000,000 Class A shares on offer of which 590,127 (2020: 185,880)have been issued and 3,000,000 Class B Shares that have been issued to the foundingshareholders. Both Class A & Class B shares have no par value.
NOTE 8: SHARE CAPITALThe Company has 97,000,000 Class A shares on offer of which 590,127 (2020: 185,880)have been issued and 3,000,000 Class B Shares that have been issued to the foundingshareholders. Both Class A & Class B shares have no par value.

Info been looking at from the companies register: Shareholdings (companiesoffice.govt.nz) So I'm guessing the A class shares are being dribbled out as new investors buy in?

The Class A/B shares ties in with their constitution:

2.4 Rights attaching to Class A Shares and Class B Shares Unless otherwise provided by the terms of issue or by this Constitution:

(a) The Class A Shares confer on the holder each of the following rights:P a g e 5 | 34
(i) holders of Class A Shares are entitled to 97% of the total voting rights of all Shareholders in proportion to their Shareholding
(ii) Subject to clause 4 of this Constitution, holders of Class A Shares are entitled to not less than 97% of all Dividends authorised by the Board, to be distributed to the holders of Class A Shares in proportion to their Shareholding;
(iii) Upon the liquidation of the Company not less than 97% of the Surplus Assets shall be distributed to the holders of Class A Shares in proportion to their Shareholding.
(b) The Class B Shares confer on the holder each of the following rights:
(i) holders of Class B Shares are entitled to 3% of the total voting rights of all Shareholders in proportion to their Shareholding;
(ii) Subject to clause 4 of this Constitution, holders of Class B Shares are entitled to not less than 3% of all Dividends authorised by the Board, to be distributed to the holders of Class A Shares in proportion to their Shareholding;
(iii) Upon the liquidation of the Company not less than 3% of the Surplus Assets must be distributed to the holders of Class B Shares in proportion to their Shareholding.

My main query is how they value themselves at $3.99.

As an aside, NBR article behind the paywall: One-of-a-kind crypto offer fails to take off | NBR

[Tony Two Gloves]

Info been looking at from the companies register: Shareholdings (companiesoffice.govt.nz) So I'm guessing the A class shares are being dribbled out as new investors buy in?

The Class A/B shares ties in with their constitution:

2.4 Rights attaching to Class A Shares and Class B Shares Unless otherwise provided by the terms of issue or by this Constitution:

(a) The Class A Shares confer on the holder each of the following rights:P a g e 5 | 34
(i) holders of Class A Shares are entitled to 97% of the total voting rights of all Shareholders in proportion to their Shareholding
(ii) Subject to clause 4 of this Constitution, holders of Class A Shares are entitled to not less than 97% of all Dividends authorised by the Board, to be distributed to the holders of Class A Shares in proportion to their Shareholding;
(iii) Upon the liquidation of the Company not less than 97% of the Surplus Assets shall be distributed to the holders of Class A Shares in proportion to their Shareholding.
(b) The Class B Shares confer on the holder each of the following rights:
(i) holders of Class B Shares are entitled to 3% of the total voting rights of all Shareholders in proportion to their Shareholding;
(ii) Subject to clause 4 of this Constitution, holders of Class B Shares are entitled to not less than 3% of all Dividends authorised by the Board, to be distributed to the holders of Class A Shares in proportion to their Shareholding;
(iii) Upon the liquidation of the Company not less than 3% of the Surplus Assets must be distributed to the holders of Class B Shares in proportion to their Shareholding.

My main query is how they value themselves at $3.99.

As an aside, NBR article behind the paywall: One-of-a-kind crypto offer fails to take off | NBR

Would it be if they had Crypto valued at $3.5M as at 31/3 divide by the 590,000 shares would equate to $5.93 which I believe was there SP around that date. Some of the coins they have are down around 50% from there highs so the SP at $3.99 would their Crypto value now be $2.3M? I really have no idea but the Company needs to clarify if they want to get some shares trading.

[Sideshow Bob]

Would it be if they had Crypto valued at $3.5M as at 31/3 divide by the 590,000 shares would equate to $5.93 which I believe was there SP around that date. Some of the coins they have are down around 50% from there highs so the SP at $3.99 would their Crypto value now be $2.3M? I really have no idea but the Company needs to clarify if they want to get some shares trading.

Yes, could be the answer.

But from the looks of it, no real difference between the Class A & B shares though......

[nztx]

Yes, could be the answer.

But from the looks of it, no real difference between the Class A & B shares though......

The shares between A & B shares appear to be linked to 100 million shares - 3.0 mil issued "B"
and the rest 97.0 mil issued & unissued 'A's'.

As more than the 590,127 A's are issued of the 97.0 mil A's then value per share will likely move,
depending on movements in the underlying Crypto held & consideration for new more shares issued.

The value of the shares looks like it could be as wildly volatile as the basket of Crypto currencies
it holds .. it may be a case of picking an entry time - if any available on a favourable "Low" day
assuming one is still enthused & game enough to want to dive in & start swimming ..