WV has 60,447,494 shares issued, with 23,210,595 shares escrowed.
The escrowed shares are subject to performance milestones, details are below (from a press release).
Consideration consists of 23,210,595 shares. The consideration shares have been placed in escrow for one year pending Wavve achieving, or substantially achieving, a number of performance objectives by Oct. 1, 2000. The escrowed shares have been divided into two tranches of 14,506,622 shares and 8,703,973 shares. If the performance objectives are not met, Wavve (formerly Gran Columbia Resources Inc.) shall have the right to repurchase the first tranche of 14,506,622 shares from the Wavve shareholders in exchange for transferring back to such persons their shares in Wavve and to cancel the second tranche of 8,703,973 shares. |
