Robert,
Here is a serious question for you...
Forgetting IVY and EUTO for a minute, when there is a reverse merger, and a previously private company takes over the shell of an existing public company, then isn't it normal for the existing public company to be compensated in some way? I can understand a private company wanting a clean shell, (although I would think they would want to find a clean shell that was also a reporting company.)
I can understand the public company needing to pay off all liabilities. However, I don't think the public company has to raise money for other purposes to let the reverse merger happen.
In the case of IVY and EUTO, here are my questions...
What is IVY paying for the shell? Do they have to buy insider shares and more to have a controlling interest?
Will the Wilkenson's still have shares in the merged shell and what percentage? Will they be on the board of the "new" company? Are they being personally compensated for this reverse merger?
What are all the shares being issued into the float for? (It appears to be more than EUTO's stated outstanding liabilities and EUTO shouldn't be paying IVY to take over their public company)
If the new shares are not being traded for cash by EUTO, then where are they going and under what situation is a company allowed to just gives shares to someone?
If you want to forget all the past with EUTO, I still think there is a lot here about this reverse merger that doesn't make sense. I personally do not think this deal will ever really go through, but allowing for the possibility that I am wrong, perhaps you can give me your understanding of how this works.
Thanks
Judith
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