SOUPQ was trading at about one penny per share on Tuesday, September 19th.
The cost to purchase the entire float of SOUPQ/SOUP stock with a float of only around 22,000,000 shares was today about 200,000 dollars. Since the stock actually closed at .008 per share the cost could be even less.
I think it makes no business sense to try to do everything over again with Gallant Brands having to find a shell or do an IPO.
I am not sure the judge in this case will even allow them to do so.
However they now already have a perfect stock profile today with SOUPQ/SOUP.
And WealthColony / Gallant Brands, the executives, and company employees have most of the SOUPQ/Soup stock already.
Gallant Brands does not have any stock itself.
WealthColony would have to disappoint the judge in this settlement agreement, then find another shell and buy it out then go through all the legal work that will take many months or longer to put together a reverse merger in order to go public again Even more expensive and time consuming is the effort to go public through an initial public offering.
Much easier and better to take what you have now and build upon it.
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The following shows that even investors common shares are still valid.
The SOUPQ 13d was agreed upon September 7th, and completed September 8th, 2017. Long after some doubters claimed everything changed.
The 13d protects SOUPQ shareholders, and was WealthColony agreed upon the 13d terms less than fourteen days ago.
10. Amended Asset Purchase Agreement dated September 6, 2017 (filed as Exhibit No. 10.1 to the Issuer’s Report on Form 8-K filed with the Securities and Exchange Commission on September 12, 2017 and incorporated by reference herein).
Section 2.2. Excluded Assets .
Nothing herein contained shall be deemed to sell, transfer, assign or convey the Excluded Assets to Purchaser, and Sellers shall retain all right, title and interest to, in and under the Excluded Assets. For all purposes of and under this Agreement, the term “ Excluded Assets ” means:
(a)
any Contracts or Leases not listed or described in Schedule 2.1(d) (the “ Excluded Contracts ”);
(b)
any rights, claims or causes of action of Sellers under this Agreement or the Ancillary Documents, including all right, title and interest in and to the Purchase Price;
(c)
all Documents relating solely to an Excluded Asset or an Excluded Liability;
(d)
all benefit plans currently or previously sponsored or maintained by Sellers or any of Sellers’s ERISA Affiliates or their respective predecessors, or with respect to which any of the foregoing has made or is required to make payments, transfers or contributions in respect of any present or former employees, directors, officers, shareholders, consultants or independent contractors of Sellers or any of Sellers’s ERISA Affiliates, and all insurance policies or other Contracts primarily relating to any benefit plan (“ Seller Employee Benefit Plans ”);
(e)
any assets of Sellers set forth on Schedule 2.2(k) ;
(f)
all intercompany claims and liabilities between and among the Debtors;
(h)
all shares of capital stock or other equity interests in any Seller or any securities convertible into, exchangeable or exercisable for shares of capital stock or other equity interests in any Seller;
(i)
all rejected contracts;
(j)
all Avoidance Actions; and
(k)
all D&O Claims.
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