Strategic Asset Leasing Inc (fka LEAS)

[Ringing 7]

Sure seems like it

[QUEEN2]

You all got fucked deep and Joseph Sinkule thanks you very much !!!! ......LOOOOOOOOL !!!

[Ringing 7]

.0001 wow some of the bashers were right.. wow did we get fucked Or what

[JCESOSA]

Some other traders are saying that their stocks LEAS are been transfer. How can we know that?

[Chrion Capital]

+>>>LEAS - Yikers. Chin Up Champ.

Better days ahead?

CC

[JCESOSA]

Just dropped to $0.0001 this is the beginning of the transfer to NASDAQ

[Hugie]

We are waiting for RWOD to fall below 1 dollar.Maybe 3 dollars would be enough.

[Ringing 7]

What was the god damn point of approving merger when in the end it just went to em.. cant they just end it here and not do anything from this point on?

[Ringing 7]

Theres not much to talk about since the stocks in em but yes i would like to know as well the timeline.. june latest?

[Eddo1976]

Just here waiting. Bought 200 shares of RWOD

[BeeHaus2]

Patiently waiting...

[JCESOSA]

Where is everyone? Just in waiting period? Does any have an idea of a normal timing on the process to get to NASDAQ?

[DEMDOTS]

tell us what you know so far :o)

[jjch]

You're probably right

[oceans11]

It’s not.
Just some random dude posting who played a lawyer in his school play once.
Harmless but sort of sad that he hasn’t found happiness in life…

[jjch]

Where do you see that in the sec fillings?

[Chrion Capital]

+>>>>LEAS - Up Up and Away!!!!

Weeeeeeeee

CC

[JCESOSA]

Merger Approved by all concerned parties.
Done Deal!!
$LEAS becoming $WENA
OTC has no hold on $WENA
$LEAS on the Expert becomes mute!
Looks all good to me👍

[Pacificisle]

https://finance.yahoo.com/news/why-spac-redwoods-acquisition-shares-160924767.html

[JCESOSA]

$LEAS RIGHT NOW WE MAY BE ON THE EM BUT…VERY SOON IT WILL BE ON NASDAQ AS NEW TICKER: WENA!!! 🐂-ISH!!!
JUST WAIT FOR IT…

[Ringing 7]

no ..

[Livi1]

So will LEAS be in the Expert Market for at least 6 months or what?

[TheOTCstocksGuy]

$LEAS people still here believing their $LEAS shares are worth anything! Well you’ll soon find out…

[Ringing 7]

By june latest…

[thesmallguy]

Seeing your posts for a while now. You obviously don't like the stock. Why are you here?

[Hugie]

When do you think the symbol is going to be changed ? What about Leas in the Expert market ?

[trader59]

You probably should read the actual agreement and proxy. There were convertible notes for RWOD, not LEAS, the CEO gets 1.4M of 6M shares, the rest of the distribution isn't specified at all. There's absolutely nothing about LEAS preferred shareholders getting convertible notes.

[BDEZ]

Thanks BeeHaus...

LEAS

[BeeHaus2]

Looking forward to finally getting the symbol change. There seems to be some confusion and disagreement about the share structure once the change occurs. The numbers I'm seeing seem to indicate this is favorable to those of use holding LEAS shares. We will find out soon.

This is from last year.

ANEW MEDICAL, INC. (“ANEW”) has entered into a definitive business combination agreement with Redwoods Acquisition Corp. (NASDAQ: RWOD

NEW YORK, May 30, 2023 /PRNewswire/ — ANEW MEDICAL, INC. (“ANEW” or the “Company”), an early-stage biotechnology company focused on developing disruptive new therapies to treat neurodegenerative diseases, announced today that it has entered into a definitive merger agreement with Redwoods Acquisition Corp. (NASDAQ: RWOD; “Redwoods”), a publicly traded special purpose acquisition company, or SPAC. ANEW currently has its common stock quoted on the OTC Markets under the symbol “LEAS”.

The transaction values the combined company at a pro forma enterprise value of approximately US$94.0 million (assuming no redemptions) with existing ANEW stockholders rolling over 100% of their equity into the combined company. ANEW stockholders will be eligible to receive additional shares pursuant to an earn-out based on the combined company’s stock performance following the closing of the transaction. The transaction is expected to provide approximately US$54 million of cash proceeds, assuming no redemptions by Redwoods stockholders. These values exclude up to five million of additional earn-out shares that would be issued to ANEW stockholders if applicable stock performance-based requirements are met. Upon completion of the transaction, the combined company will operate as ANEW MEDICAL and expects to remain listed on NASDAQ.

ANEW is dedicated to realizing the potential of gene therapies to offer transformative patient outcomes in areas of high unmet medical need and extending the reach of gene therapies to highly prevalent neurodegenerative disorders. The Company has assembled a portfolio of gene therapies in partnership with leading scientific institutions and has built a core team with extensive experience in the gene therapy, drug development, and commercialization space. ANEW is initially focused on progressing programs that include alpha Klotho-based gene therapies for ALS, Alzheimer’s disease, and Parkinson’s disease.

[jjch]

Early investors mean LEAS holders

[KingKnight24]

When the merger is complete RWOD will get about 5 million shares. Dr. Sinkule will get 1.4 million of the 5 million as he is on the board. The money from the early investors are now convertible notes to be paid at closing.

[trader59]

Because they can do the math and distribute the RWOD shares as if it had been processed. It was already approved by the shareholders (the CEO controls the vote) in 2021, recorded in the corporate charter and well advertised. The owners of ANEW (those preferred shareholders) aren't going to give you their company.

[jjch]

Why do you think the company said RS is no longer necessary? They didn't have to say that .

[trader59]

Oh, it's very legal. The company has been up front the whole way about the capital structure they intended. Why would you feel entitled to any stake in the company he and his co-owners built with their money?

[Hugie]

We shall see what happen but you outcome would be nothing than to steal and scam everyone.I do not think it would be even legal...

[Hugie]

Dr.Sinkule promised a value for longerterm shareholder of the Leas.If they wiped out us where is the value ??Ii does give no sense.It must be a bit adequate to promises.

[okwife]

LEAS!!! https://investorshub.advfn.com/Strategic-Asset-Leasing-Inc-LEAS-10868

[JCESOSA]

What all this mean for us? LEAS holders?

[trader59]

They can distribute the RWOD shares any way they want. That’s the deal. They can distribute them as if the RS had been applied, as it was approved and included in the corporate charter.

[billdean8]

Ok all that makes sense and it is written in the filings accordingly. Only the 2500 to 1 RS would have had to happen for that to work. As of right now there playing with the actual OS numbers of 1,044,861,360 converting at 10.00 a share 60 million dollars 6 million shares they need a loophole to knock retail out at which i don't think they've found. All the numbers are pointing towards the OS not preferred b shares. Retail is a factor as it looks like there converting LEAS's OS into RWOD.

[JCESOSA]

https://sih-st-charts.stocktwits-cdn.com/production/original_570223139.png

[trader59]

Sorry, bud, but from the start the owners of ANEW said they were doing the 1-2500 RS. It was there in every financial document they published. That would have the effect of lowering the O/S to a little over 400K shares. When they merged in, they got just over 400K preferred shares that convert 100-1, meaning 40M shares. It was very clear to anyone who could read that the owners of ANEW were going to own 99% of the equity in the public ticker LEAS. And they should, they're the ones who started and invested in ANEW when it was private, they owned 100% of it and weren't going to give it away to the bagholders of a stinky pink shell company.
Only when the RWOD deal looked like it was going through did they say they no longer needed the RS, but they've never published what the exchange was going to look like. You can get a clue about that by looking at the CEO's portion of the 6M shares of RWOD, he gets 1.4M of it. The other preferred shareholders will very likely get the lion's share of the remaining 4.6M.

[TerraRyzing]

https://investorplace.com/2024/04/rwod-stock-7-things-to-know-about-the-anew-medical-merger/

[billdean8]

NO NO NO and an extra NO ANEW reverse merged into LEAS becoming LEAS all of ANEWS shares were already converged into leas's OS and it is documented stateing just that. There is no longer any prior ANEW investor as ANEW and LEAS became one and the same. ANEW MEDICAL, INC. (OTC: LEAS) and Redwoods Acquisition Corp. (NASDAQ: RWOD) Entered into a Definitive Merger Agreement
https://www.otcmarkets.com/stock/LEAS/news/ANEW-MEDICAL-INC-OTC-LEAS-and-Redwoods-Acquisition-Corp-NASDAQ-RWOD-Entered-into-a-Definitive-Merger-Agreement?id=403374

[trader59]

The worst case scenario would be the mathematical equivalent of them doing the RS they’d planned, leaving the legacy shareholders of LEAS with about 1% of the 6M shares or 60,000 to divvy up between over 1B commons.
The CEO had a 30+% stake in his company, and is taking 23.3% of those 6M shares, so it might be slightly better than worst case, but I doubt it’ll be anything close to 175:1.

[billdean8]

Meaning its already locked in to merger agreement that ANEW shareholders will start at 10 dollars a share 60 million dollars 6million shares from leas OS of 1,044,861,360 somewhat like a reverse split only its a conversion of 175 to 1. 1,044,861,360 divided by 175 = 5,970,636 shares. Unlike reverse split conversion should put us at 17x what we have invested. Hopefully theres no loopholes that can lock leas shareholders out of merger completely. Don't know how they can move shares to rwod without shareholders we will just have to wait and see

[Eddo1976]

What was your figure on the conversion ratio after preferred were converted? I’d like to calculate my worst case scenario on the number of shares of RWOD/WENA I would receive.

[Hugie]

I am going to wait to the end...

[JCESOSA]

$LEAS simple terms as I see it, nobody has lost anything. The ability to buy more was disabled for retail by moving trading to EM, temporarily. Retail can still sell however.

Once EM period is over and the merger complete, new shares will be issued to everyone through some conversion rate (TBD) and you can resume buying/selling of the new shares.

April 18 was last day for retail to buy LEAS openly. Now you either sell or wait for the new shares.

Sound correct? Feel free to correct me, as I am not an expert by any means.

[trader59]

The company has never stated a conversion ratio. That 1:174 crap is just "speculation."
The company did say they were going to essentially have the owners of ANEW (those who invested in it prior to inhabiting the LEAS shell) own 99% of the equity by effecting a 1-2500 RS then converting the preferred shares into common. With the RWOD merger, they later said they no longer needed the RS, and they can distribute the 6M RWOD shares anyway they want since they control the vote. That is reinforced by the CEO getting 1.4M of the 6M RWOD shares.