Actually I think the o/s remains low post-Frankel takeover and Meier shall take his cues from the Harlands.
Even with an a/s of 800 million, the Harlands gave themselves 3,000,000 preferred stock convertible into 1.5 billion shares. For anyone on the sidelines scratching their head saying "why is GLER going up when the a/s was just increased to 3 billion," the answer is the a/s has been and will be irrelevant. Who's ever in control of the votes can raise or lower the a/s on a whim. The Harlands could never have converted all their preferreds into common since the a/s could only cover 50%.
The big news is the potential for the Harlands to dilute GLER was just taken away. So instead of the Harlands having 1.5 billion shares just lurking out there ready to destroy this stock at any given time, they now just have 300,000,000 (and you can bet they are restricted by Rule 144) so they can't destroy the stock. Even if the Harlands wanted to just blow it out somehow, a .001 stock with Meier Frankel at the helm won't have a problem absorbing that. We just did over 100,000,000 in volume on Friday alone
They will no longer be able to hand themselves free shares. They are no longer controlling the vote. Now who controls the vote is the "white knight" who just put up $2 million, Meier Frankel
So back to my main premise, why will the shares o/s remain low post-Frankel takeover on May 15th? Frankel too will give himself Pref Shares convertible into the majority at any given time just like the Harlands. So the a/s might be 3 billion, but that is only if and when Frankel needs to play the "poison pill" card
So in summary I think once we hear about the reverse merger candidate, probably in commercial real estate, the o/s will remain low and we all get a slice of the pie.
