On July 1, the founder and CEO (James Shepard) of Typhoon Touch Technologies sold his 58% ownership in the Company back to the Company in exchange for assets that appear to be worth less than $64,805, if anything at all. Given the subsequent 100:1 forward split, this transaction values the current common shares at 0.0018 cents per post-split share, which is substantially less than today's last trade price of $8.
One would think that the CEO would know better than anyone else the value of the patents. Why did he sell for so little? I imagine today's buyers will be very concerned.
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