VNUE acquires Stage It for up to $10M; target has going-concern doubt

VNUE, Inc.

Merger consideration up to $10M, paid in cash (debt satisfaction) and 135M initial common shares.
$1M of consideration held back for contingent obligations; earn-out shares up to total consideration based on 18-month EBITDA.
Stage It's audited FY2020 financials show net loss of $1.63M, accumulated deficit of $10.57M, and negative working capital.
Acquisition closed Feb 14, 2022; Stage It becomes wholly owned subsidiary.
Stage It's auditor notes substantial doubt about ability to continue as a going concern.

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