Believe me, the players that pulled this move off have a majority of the current number of shares, so don't waste the effort.
BTW, afterwards they will be able to acquire an even higher percentage. Here's why:
Say we shareholder slime hold 50 mm and the Gods hold 67 mm, for 117MM in the float. (Remember, even if Jack's shares are in his shorts, unless they're 144 they are considered in the float, maybe not the trading float, but still the float). OK, AFTER the reverse, we have 166,667 shares and the Gods will have 223,333.
Now, as the Gods issue shares into the float, they will also hold some of their own, making sure they got a majority. So, when all the dust settles, it may look like 3,390,000 shares in the float, of which the shareholders will hold 1,166,667 and the Gods will hold 2,223,333. Meanwhile, they sold off 1 million for whatever, but being cautious to keep their majority. by keeping 2 million in tight hands.
They may be dumb, but they sure ain't stupid.
He who has the Gold makes the rules...even if it's fool's gold.
TG |
