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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna
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From: PaperProphet8/13/2019 12:31:31 PM
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TRNX has really strange share spinoff terms according to their press release. They're saying they're going to spin off the 'Taronis Fuels' subsidiary to shareholders but shareholders need to hold for a period of time. Shareholders apparently need to own shares on the record date, 8/15, and hold through the stated and expected date of around 9/1. Does "own" here mean investors need to be shareholders of record, meaning they need to buy today before the shares settle on 8/15? The stock being up sharply might indicated that's what everyone believes.

"In order for shareholders to be eligible to receive the stock distribution, they must not only be a shareholder as of the record date, but they must also hold those same shares until the distribution is made. The Company currently intends to issue the shares on approximately September 1, 2019."

Normally there's a ex-dividend date, a record date and a distribution date. Normally if an investor holds the shares on the ex-dividend date, they will get the dividend even if they didn't own on the record date. The shares in transit will have a due bill attached so the investor gets the dividend. I'm not exactly sure what is supposed to be happening with TRNX, based on their press release.
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