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My WENA shares are in Fidelity.
I have etrade and I see my WENA shares.
That's like 1 for 25,000. ETrade has not done this yet but I didn't have many LEAS shares left and was riding freebies. But this still sucks.
We need everyone to join the case now please. Can you please pin the link to join it: https://11thestate.com/cases/1269
This was just another pump and dump. Who in their right mind would think they'd found a stinky pink stock that could be bought for way less than a penny for over a year was going to be exchanged for SPAC stock with an exchange that was equivalent to nearly 6 cents per LEAS share? Anybody falling for that crap needs to pull all their money out of the market, especially the OTC, because they'll fall for anything and will eventually lose all of it. Put it in some nice, risk free CD's.
Neither company ever said there was going to be a 175 to 1 exchange ever, and in fact ANEW said from the point they merged into LEAS they were going to RS the stock at 1-2500, then apply a 100:1 conversion to the 400K shares of preferred stock given to the investors of ANEW. They even revised the corporate charter to include it. Every report they issued said that until the business combination was getting close and the CEO realized he didn't have to make it effective, he could just do the math and distribute the WENA shares as if it had. He didn't mislead anyone, a bunch of pumpers pushed that fairy tale of a sure thing 10-20 bagger and dumped into it. Those are the folks who have all the money invested in this, nobody bought stock from LEAS, they bought it from someone else who was selling.
If it's any consolation, the company is likely screwed. Most all the retail shareholders who'd invested in RWOD before this business combination was announced walked and took their over $10 per share with them. Cash in the treasury was nothing, and the ANEW shareholders got about $12M worth of stock instead of $60, but only becauses they can't sell any of it yet. The company has already sold another 1M shares, and that won't even scratch the surface of any sort of drug they want to develop, test, and sell. This will be just another NASDAQ biotech that won't go anywhere.
reposting this from stocktwits
"We have initiated a class action lawsuit against Anew Medical for destroying LEAS shareholder value through Misleading statements in filings, failure of fiduciary duties, and insider trading through the CEO sharing material non public information (MNPI) to private individuals. THIS WILL COST YOU NO LEGAL FEES. For those of you affected who still held LEAS shares anytime between April 17 - June 21, 2024 and lost money - please join our case. Please input the amount of your total investment (not the price when it was highest in the market) and whatever description you can add. It will take time to collect everyone who participates before lawyers take this to the next step, so be prepared to be patient - these things take time. However, our goal is to get our money back and then some for additional time and opportunity cost damages. "
11thestate.com/cases/1269
Yeah, my Schwab acct also updated overnight. I sold some LEAS prior to the merger. I now have 46 shares in WENA. Sad.
https://t.me/+v8g9kd_jpvpmZGE5
Feel free to join the telegram group! Everyone going after the POS Doctor!!
yep. don't care to much for the doctor :o)
My Schwab account updated. My 2,550,000 LEAS shares are now 102 WENA
All I see in my account for the former LEAS is a combination of numbers and a letter of the alphabet.
one of my best trades :o) JK
Probably the CUSIP # for the stock. It'll be exchanged soon.
At 0.00004 shares of WENA per LEAS share, WENA trading at $1.93, that's the equivalent of $0.0000772.
I see wena trading
My account still shows LEAS
People just wouldn’t listen!! Been saying for months and months that this was a scam and if you held shares for this so called POS merger, you would end up with NOTHING! And guess what…that’s exactly what has happened!
They'd be worth $2.34 (RWOD PPS) times 0.00004 or $0.0000936.
Keep in mind, most all of the RWOD retail holders redeemed their stock, resulting in hardly any cash for ANEW to make any progress. They just announced they sold some stock, and the 6M shares awarded to the ANEW shareholders are all dilution to the $2.34 shares. NASDAQ investors aren't OTC investors, they don't buy fluffy hype about a company, they look at the bottom line.
I don’t know, but RWOD shares crashed down $3.56 to $2.34 today.
Just trying to inform. Anytime an OTC company says they’re going to do a RS, everyone should plan for it, even though this one was weird.
So after the merger, how much each share of $LEAS be worth??
You were right, my apologies for giving you shit thinking you were just trying to cause selling. Luckily I did sell bits and pieces amounting to nearly 2 million shares as it went up. My remaining 2.55 million had a cost of about $0.0007.
There's several of these on the board, but it was predicted:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174257497
At that exchange, the 1B shares of the O/S get 40,000 shares of the 6M shares awarded in the exchange. That's less than 1%. The preferred shareholders (including the CEO) will get the rest.
Here we go. My 2,550,000 LEAS shares will become 102 WENA shares. Take your LEAS shares times .00004 and that’s your number of WENA
https://www.nasdaqtrader.com/TraderNews.aspx?id=ECA2024-298
Not sure what this means, but it was in the RWOD 8K, and much of it mentioned Strategic Asset. Not sure why any of these people would want LEAS shares if they were going to be worthless.
On May 31, 2024, the Company cancelled 12,824 shares of Class B Preferred stock for a group of five individuals. The Class B preferred stock was valued at $16,415 or $1.28 per share.
On May 31, 2024, the Company cancelled 2,500,000 shares of common stock to be issued for two consultants of the Company. The stock was valued at $3,900 or $0.0016 per share.
On May 31, 2024, the Company granted 500,000 shares of company unregistered common to a group of five scientists for services to the Company. The stock was valued at $150 or $0.0003 per share.
On May 31, 2024, the Company granted 3,266,640 shares of company unregistered common to the Company’s CEO as a bonus. The stock was valued at $980 or $0.0003 per share.
On May 31, 2024, the Company granted 2,373,401 shares of company unregistered common to a group of 14 individuals for services to the company. The stock was valued at $712 or $0.0003 per share.
The Company evaluated all events or transactions that occurred through May 31, 2024. During this period, the Company did not have any other material recognizable subsequent events.
im hearing this shit will be so diluted because of the conversion of the preferred B shares...
new rwod filing
No date set yet
For now we just sit to see what happens when this deal closes. When RWOD stops trading and WENA starts trading. If we don’t see WENA shares in our accounts, then I’d say we’re screwed.
No im saying after it hits nasdaq
So were fucked?
What deal? This piece is dead in the water in the expert market in case you haven't noticed...
Are the common shares worthless under this new deal??
I thought you said, "Dr fatso too greedy so he brought all us down with him". You can't have it both ways.
And hopefully not a 1-2500 conversion
I'm hoping this gets done before July 4. Big WENA!
Looking forward to Nasdaq news
Look out Ringing, the sky might fall today.
Exactly it wont happen right
Will this. Merger be done this year
Dr fatso too greedy so he brought all us down with him
I think they have no intention of going thru with the merger
The people who invested in ANEW when it was private are the ones who are going to own the bulk of it. That's been very clear from the RM a couple years ago with the nearly immediate announcement of the 1-2500 RS and the change to the corporate charter to reflect it and the award of the preferred B shares to those investors in ANEW with a 100-1 conversion into commons. The RS reduced the O/S of about 1B shares down to 400,000 shares, and the conversion of the preferred B's would make 40M common shares, so the legacy shareholders of LEAS would get roughly 1% of the company. That makes perfect sense, since nobody holding LEAS shares has given ANEW a plug nickel, they hold and trade shares sold by the failed businesses that once occupied LEAS and for which the cash raised from the initial sale is long gone.
So, no, the LEAS holders are not entitled to a significant portion of the RWOD/WENA stock.
So all leas holders are pretty much fucked
Don't know. I'd bet they're getting the story straight for the exchange of stock. I've said all along the common shareholders of LEAS were going to be RS'd one way or another since the Dr. had been very public about what he was up to, but the naive who thought they'd found a "sure thing" on the OTC and didn't actually read through the financials for themselves are still going to whine about it.
On the other hand, you do know that virtually all the retail common stock of RWOD was redeemed for cash, right? That means that the Dr. is merging his company into a shell with no cash to do anything with now, and carries the burden of the founders share holdings, effectively giving a significant part of his company to them for nothing. Cash in the treasury is why some companies do these business combinations, without it, it may not be worth it. If they have to turn around and do a stock offering to raise money, it ain't gonna be at $10 per share.
Medical product development and commercialization. The Company recently acquired five generic oncology drugs approved and manufactured in Germany and they plan to gain approval for these drugs in the US in 2023. The Company is preparing for a pivotal Phase 3 study of an anti-cancer antibody product that is highly similar to Genentech/Roche's brand name Avastin (bevacizumab), the Company has licensed a needle-free jet injector for drug delivery, and the Company is in the pre-clinical stages of development of a gene therapy product candidate based on the delivery of a human alpha-Klotho gene and protein to prevent and/or treat neurodegenerative diseases such as Alzheimer's and Lou Gehrig's disease (ALS). Other product candidates will stem from these platform technologies of pharmaceuticals, biologics, and gene therapy.
The Company's medical R&D facilities are in the U.S. (near the University of Nebraska Medical Center, Omaha, Nebraska) and in Barcelona, Spain (Autonomous Universitat de Barcelona). Each R&D facility is comprised of over 4,000 sq ft of R&D and office space, currently leased and equipped with research equipment, incubators, tissue culture facilities for production of plasmid DNA, HEPA-filtered hoods for aseptic handling, and testing equipment (PCR, spectrophotometers, microscopes, etc). The generic oncology drugs are manufactured in Germany. With future funding, the Company plans to acquire or build a GMP manufacturing facility to supply novel plasmid DNA ("transgenes") to be used in gene therapy programs, to provide contract manufacturing revenue, and for commercial product manufacturing.
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