Premise

As we walked into this coming from a bit of a defensive/strong position, I thought it fair to set the premise of the convo.

This is also so I may use more concise bullets for latter sections, BUT give justice to the settings

Overall, the entire discussion showed effort and understanding to expedite, get this through, and support our efforts

• Peter was able to change hats to a Metasports hat when I requested
• Also no bullshit, Peter was frank when not knowing the right answer to a question
• We strongly collaborated on solutions and actionable direction

Main Discussion

On Valuation

• Peter says valuation isn’t an issue, strong agrees its fair at the stage of agreement (Aug 1). No foreseen change
• Compliance with Arca is focused on ensuring Peter isn’t doing insider trading, embezzlement etc with the funds of BSPC, a lot is at stake when dealing with millions and investor money

On Expediting / Process Speed

• It’s looking to be a drawn out process for it to be official, maybe 2/3 months—symptom of a number of things:
  • First time being done for us all
  • We are an existing company with revenue
  • Proper paperwork/structuring for safety in compliance
• I saw no lack of effort to expedite from Peter and BSPC’s end
  • Strong show of faith and intent from BSPC, engaging process with Ying (legal) is an upfront 15,000 USD cost
  • Peter and Terrance have been exhausting ideas to find workarounds to get us capital upfront, some of which Peter and I built on as options
    • MOU or LOI of acquisition to allow funds to move (a little grey)
    • A loan vehicle, paid back once diligence is completed and tranche payments arrive (an advance essentially)
    • Service agreements, to allow capital inflow
  • Priority #1 of new CFO who starts coming week is this acquisition
    • CFO with experience and M&A
• No PR until diligence is completed and acqui is finalized

On Raising

• We should and can continue to raise
• It’s in Metasports best interest to leverage interest that exists to raise again/continue raising
  • It helps our value if we can raise at a better valuation from the major progress this past month

Steps Forward