The cat is out of the bag. If no one see's me post for a few days it's because I've been murdered for posting this.
But how long did folks expect that it could stay buried. It's best to get past it.
After the reverse
Mr Mahoney wants to end up with 7,400,000 shares. This includes the 8,000,000 post split shares that were given to him in the agreement.
Beagleman wants 1,550,000 shares
They want to distribute 422,000 shares for misc services
This totals 9,372,000
that is 78% of 12,015,384 shares
The difference would be 2,643,384 shares left to shareholders.
46,932,000 outstanding - 8,000,000 mahoney's? = 38,932,000 /15 = 2,595,000 (for intent & purposes)
This would require a 1:15 split. a .50 cent stock post split would now be worth 7.50. If you are holding a 1000 shares..you would then be holding 66 shares @$7.50
If you use the 46,932,000# it would be more like a 1:20 split to accomplish what they want to do.
Disclaimer: This is my interpretation of what I am reading in the merger agreement....it may or may not be correct...but I feel they are close. The 78% # used is from Alsmoms post and the share #'s are in the merger agreement regarding the RS.
The proper news can keep this stock rolling.
John |
