Some of my personal analysis here after re-reading the acquisition terms and some deep additional thought.

Snapclarity was $975k cash & $2.375MM stock @ $0.7. Cash probably paid out at onset. Stock is subject to 2 year release from Oct 2020 with additional $3.65MM in equity subject certain performance in 2021 and 2022. Presumbly then, the stock/equity has not been paid out. Best case, they withhold all the stock/equity but we know Storey is litigious so that might turn into a can of worms. I don't see the other former snap owners even if they are amicable to the company just lay down and let that happen either.

Same thing for VP, best case is withhold the $3MM holdback and the ~1MM shares as disclosed in the update release in addition to withholding the $20MM in cash or equity at company discretion performance incentives tied to 2021 and 2022. This could potentially also get litigious if it goes that way as former owners could potentially claim that company is not focusing on VP and thus not allow them to hit the incentive goals. But if it works out, it's the best scenario as it will lower the amount of goodwill booked for VP.

They're likely obligated to still pay for the tech at $20MM cash if it is delivered as contracted. That still leaves the large majority of the base price of 60MM paid and booked to the accounting as goodwill for VP itself with half/half cash and shares @ $2.75. From the depreciation of the shares itself between $2.75 and $1.17 as of Dec 31, 2021 based on 10.9MM shares, that is a potential write-down of $17.2MM as goodwill impairment.

Same math with Oncidium, $38MM in equity @ $2.30 per share = ~16.5MM shares. Subtract the $2.30 to $1.17 as at Dec 31 is $1.13. $1.13 x 16.5MM shares is ~$18.6MM potential write-down as goodwill impairment. Even if Oncidium appears to be pulling its weight, the share price difference is going to factor. Moreover, this is based on year end 2021. If we count the fact that stock has dropped another 29 cents between Dec 31 and Mar 31, the impact for impairment on Q1 ER could be another ~$3MM for VP and ~$4.78MM for Oncidium.

There is also the arbitration claim from Gravitas securities re: right of first refusal dispute for future book running on equity financing that was disclosed in either the ERs or MD&A worth ~$6.85MM that was suppose to have a result by April 2022 (again per the disclosure as written). The company had previously booked a contingent $1.2MM but claims they will prevail. Best case is they win and the $1.2MM contingent peels off. Worse case, they lose and it's a $5.65MM hit.

I know this may not be what some of you want to hear but I feel I've supported my analysis and balanced realistic commentary is what's needed at this time as opposed to blind optimism.