Who was the poster that always had the breakdown of financial matters, need him to clarify this.
On a quick read it looks like:
Hypebeast puts in $750K for 51% of the JV
The Berrics puts in their business (valued at $2.4M) for 49%
The new JV assumes $1M debt/liabilities from the Berrics.
So I guess they sold 51% of the berrics for $1.75M, or is it $1.25M since they are still on the hook 49% of the $1M liabilities.