MAYBE TWENTY CENTS
IFON: Public Company
Outstanding Shrs = 14,388,728
Authorized Shrs = 40,000,000
As Of May 9, 2017
Cooltech: Private Company
Stockholder Structure/Value = Unknown
The "Not So Clear" Deal
An Aggregate Amount Of 62.5M IFON Shrs (Free With A $0.001 Par Value?) Are To Be Issued In Exchange For All Outstanding Stock Of Cooltech (But Nobody Yet Knows The Value Or How Much Stock That Is). And That The Former Cooltech Stockholders Will End Up With 85% Of IFON's Common Stock (But Again, What Does 85% Of An Unknown Amount Of Shrs Equal?).
Is It The 62.5M Shrs That CoolTech Stockholders Will End Up With? Which Is 85% Of 73.5M? Which Means That IFON Stockholders Will End Up With 11M Shrs Of Cooltech? And If So, What Are Those Worth? And Is All That Even Correct ???
Will The True OS Really Be :
62.5M + 14.5M + 9.1M = 86M ?
There Is No "Deal Value" That Can Be Put On This Merger. There Is Not Enough Information Or Disclosure ... Why?
And The Only Speculation You Have Is From The Print Media, Who Doesn't Know Anything. You Can't Just Take An Arbitrarily Ambiguous Figure Like 62.5M, And Then Multiply It By A PPS That Hasn't Even Been Determined Yet.
Semi-Related Transactions
Cooltech Will Purchase 2.5M IFON Shrs And Warrants At $0.40 By Aug 3rd. This Money Will Only Be Used To Cover The Costs Associated With The Merger, If It Goes Through.
Then Also By Aug 3rd, There Is Suppose To Be An Official Purchase Agreement Stating That Cooltech Will Purchase An Additional 4.375M Shrs. But The $ And Time Of Such A Purchase Is Not Specifically Stated. It Only States That When It Is Done, The Money Will Then Be Held In Escrow Until "Both" The Shareholder Approval And The Closing Of The Merger (On Dec 31, 2017) Is Completed.
This "Exchange Of Shrs", Or "Stock Swap", Is Somewhat Ambiguous And Unclear. The Real Value, Or Lack There-Of, Is A Real Unknown. There Will Probably Be Another 8-K Down The Road Here In A Few Days That Will No Doubt Surprise And Screw A Lot Of People.
There's An Elephant In The Room
A Reverse-Split Is Definitely In The Works. It Is 5 Months Before Merger Time, On Dec 31, 2017. And It Is Only 3 Months Before Delisting Time, On Oct 31, 2017. Then You Have The Second Quarter Report Coming Out Soon, And You Already Know That It's Not Going To Be Very Good. And Eventually There Will Most Likely Be A Name Change. It Is Also Highly Possible That The Plan For This Company Was To Just End Up On The OTC.
Take A Pick . . .
TWENTY CENTS
REVERSE-SPLIT
. . . Probably Both
JMO
