This is insane to me.
It’s like nobody realizes that Schadel set this whole thing up with Toby and the gang to begin with.
Schadel had a lot of shares before the reverse merger here. He needed to get his share count under 10% to dump into the mineral water pump. To do this, he issued TakeOver a massive amount of restricted shares, effectively leaving him with about 9.8% of the outstanding stock. He then resigned to lose his insider status, and sold into the mega pump. He never had to disclose any of his sells.
I think he got away with over $50M, and probably split this money with Toby and the gang. He even went as far as to saying that he couldn’t sell his shares for a period of time which was untrue. He abruptly stopped discussing his holdings and never again posted a picture of his position.
Now that he has no shares to dump and the SS is huge, what’s the best plan going forward?? A reverse split, issue more shares and do it again.
But a reverse split would really get the LTNCARMY worked up, so what to do? Disguise your reverse split by doing a spin-off with a proportionate ratio, and then issue new shares to insiders and friends…. I’m guessing the spin-off will be into an empty shell that’s probably preloaded with conversion debt.
What’s your guess on the “proportionate” share ratio? These guys are greedy, it’s gonna be big. Rinse and repeat.
Funny how failed businessman Schadel flaunts so much money these days. Certainly not from his labor business.
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