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  "notes": "The slide uses a 'villain' framing to describe Yorkville as a predatory lender and highlights the financial mechanics of the convertible notes.",
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      "text": "There really is no strategic relationship when dealing with Yorkville. They are a predatory fund, not a long-term investor.",
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      "text": "On April 25, 2024, Yorkville agreed to advance to the Company in the form of convertible promissory notes an aggregate principal amount of up to $8.51 million (the 'First Pre-Paid Advance').",
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      "text": "There really is no strategic relationship when dealing with Yorkville. They are a predatory fund, not a long-term investor. Yorkville just needs liquidity and could care less about whether AGBA succeeds or fails. If the stock drops then Yorkville will just get more shares to sell to guarantee a profit.",
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      "text": "On 7/5/24, AGBA published a PR announcing they are raising more funds through Yorkville. The PR states 'It also further cements the strategic relationship between AGBA and Yorkville...'",
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      "text": "Our comment: This is one of the only times in the interview where Ng was specific. He expects to have an approval decision by the SEC and Nasdaq by the end of June. It's currently July, and we don't have any updates on the merger. We believe the SEC will reject the merger but the application process will take many more months.",
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      "text": "Ng: 'The transaction has been approved by shareholders on both sides. So now, it's really dependent on, we're just waiting for approval by the SEC and Nasdaq. Hopefully we should have a conclusion by the end of June, I'm just guessing.'",
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      "text": "For example, assuming the lowest daily VWAP for the last 10 days is around $2.7 then if the stock price goes up to $3.50, Yorkville can convert at $2.7 x 92.5% = $2.5 conversion price and sell at $3.50. Yorkville stands to make at a 40% gain on their investment with very little risk. And if that wasn't enough, Yorkville also received 3M AGBA warrants, representing $8,377,500 or 25% of the $33.51M convertible note principal amount, at a Fixed Price of $2.83, with price protection.",
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      "text": "From 2022 to late 2023, Triller has settled many lawsuits by agreeing to owe money to a variety of plantiffs. However, the problem is Triller doesn't have any money to make these payments anymore. The following are lawsuits that are all referenced in Triller's S-1/A filed on 1/30/24.",
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      "text": "On June 28, 2024, AGBA, Triller, and Yorkville modified the agreement to assign Triller's rights and obligations to AGBA and provide $25 million in additional financing (the 'Second Pre-Paid Advance'). As part of the 'First and Second Pre-Paid Advance', AGBA issued a convertible promissory note for an aggregate principal amount of $33.51 million in favor of Yorkville. The note could then be converted to shares of AGBA common stock at 92.5% of the lowest daily VWAP during the ten consecutive trading days immediately preceding the conversion date or other date of determination.",
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      "text": "The transaction has been approved by shareholders on both sides. So now, it's really dependent on, we're just waiting for approval by the SEC and Nasdaq. Hopefully we should have a conclusion by the end of June, I'm just guessing. — Ng",
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      "text": "Details on Triller's Settlement Woes And Debt Payments",
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