Some more details as I am reading through the longest S-1 I have seen in a while:
— Glu Mobile bought iFone earlier this year in March-April. The purchase price wasn’t disclosed then, but it is $23.5 million: $19.1 million in stock and $3.5 million cash and transaction costs of $0.9 million. Glu was supposed to give iFone shareholders more contingent upon them meeting certain milestone prior to Sep 28 this year…that included 3.2 million shares of certain kind, and $4.5 million in subordinated unsecured promissory notes. Turns out Glu says that iFone didn’t meet the goals, so they won’t get the additional bonus, but iFone disputes that and says it has met those landmarks. Of course, in the end, Glu owns iFone and hence prevailed.
— Salaries? CEO Greg Ballard’s total salary for 2006 is $1.31 million. CFO Albert Pimentel is at about $0.87 million. more is here in this chart Gif.
— Investors include BAVP, Globespan Capital Partners, Granite Global Ventures, New Enterprise Associates, Sienna Ventures and Time Warner. NEA owns 22.8 percent, BAVP owns 11.4 percent, Globespan 8.9 percent. Time Warner invested $7.5 million.
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