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Problem with the 4.8m os number is its not including the warrants. The price on them is so low it needs to be factored in. So 4.8 + warrants = 6,658,619
also we have
+ we have 439,095 previous warrants
+ 170,267 stock options.
So 7,267,981
Underwriters have option to buy more shares for 30 days in the deal too (159,999 shares and 159,999 warrants).
So just to compare we were right around 100m pre spit and now we are 218m.
I don't understand why he felt the need to raise so much money (they only needed $5m on balance sheet for nasdaq) at these levels and dilute all the shareholders who were loyal.
and yea I know his position gets diluted too. He also gets $350k per year salary has the clause if he sells a subsidiary he gets a % and he can issue more stock options to recoup his paper loss.
Thats not true "guaranteed to open below that". Stocks shouldn't break the deal price. Its already done at a discount to the market. A strong deal and we would be up on the day.
still defending the company with the stock split adjusted at .144 and they just increased the shares outstanding to 219m pre split.
No im being serious. The entire summer I was for this RS and uplisting and thought this would be much different than the normal RS we see. I was dead wrong. I also thought we would rise with sector and nasdaq news and be closer to $1 so the RS would only be 1-5.
Yea damAcon1 and masterbidder and a few others were all over this. Over the summer I was dead wrong. You were all right about this.
So we raised money last night at $5.25 with WARRANTS and the stock is down 23% below deal price which was discounted 23% from yesterdays close.
I thought Bunka had all these investors that would only buy on nasdaq.
Shocking that it broke the deal price pre market.
Yea I won’t be buying anymore anytime soon.
After raising the shares outstanding by 120% at a 4 year low. Come on.
Maybe around $1.50 I’d be a buyer.
Nice to see a major news release today (sarcasm).
Wow. So that 3m shares outstanding jumps to 4.8. + warrants. Great job Bunka. Within 9 months he raised money at .23 and .175.
Another filing just posted looks like we are raising $1.8m. That’s better than the $9.2m that was on previous S-1
Nasdaq SPACS not so sure about OTC
LEXX COMES UP ON NASDAQ!!!!
.222 close would make sense that would be 6.66 post split
Ouch broke $10. SPAC deal price.
Be nice to see this ran up and close green
one can dream right.
Anyone know what day the presentation is this week. All I can find is Jam 11-14.
if this is so positive why would down 11% be holding up well?
Lexaria doesn't have preferred stock
I sure hope news is released by tomorrow’s open for all of our sake.
I hope it does. The sad thing is some of us here from years ago believed the ceo on the future prospects and thought this was going to 10+. Would of been a 700m market cap back then. Sadly now assuming 4m shares that would be 175 per share.
I’ll be on the edge of my seat to see if this ever sets a new all time high. Post split that’s $76.20.
Market seems to agree
Form CERT filed by Lexaria Bioscience Corp just posted. It’s approved for NASDAQ
Ok so please read what the company released as a public statement
Following the Reverse Split, the Company's shares of common stock are intended but are not guaranteed to be listed on the NASDAQ Capital Market ("Nasdaq") on January 12, 2021
INTENDED BUT ARE NOT GUARANTEED
Numerous stocks have made the jump from otc to Nasdaq with a RS necessary and it was tied in together.
This isn’t my opinion. This is black and white on what Lexaria said publicly.
So you are misinterpreting my post. The RS and uplisting should happen together. That is how many other companies have done it and that is how our ceo said the only way Lexaria would do that. The press release put out yesterday clearly states it will go ahead with RS but still my not uplist to Nasdaq. This is not what was told to shareholders and potential investors.
You don’t have to RS first to then uplist it is done together. Let’s stay factual. Come Jan 12 it may well start trading on Nasdaq but this is not how our ceo stated they would do it.
Bunka said publicly numerous times he would only do RS if it was to go to nasdaq. It is very clear that is not the case. It may work out but read this from PR carefully
“Following the Reverse Split, the Company's shares of common stock are intended but are not guaranteed to be listed on the NASDAQ Capital Market ("Nasdaq") on January 12, 2021 under the stock symbol LEXX”
This can be tied together RS AND NASDAQ EFFECTIVE SAME DAY.
So this is a blatant violation of his fiduciary responsibility.
They have to raise $ in order to meet capital requirements of Nasdaq. That is the reason for the capital raise.
Doesn’t trade AH.
So I know you defend everything. But go and read statements the company publicly stated they would only do reverse split if it was tied to Nasdaq listing. This isn’t. Very clear that it may or may not. This is a break of his fiduciary duty.
Nasdaq can approve it and in tandem do the RS
Also just seems sneaky putting this out after the close on a Friday. Same as they did with Altria fiasco
Following the Reverse Split, the Company's shares of common stock are intended but are not guaranteed to be listed on the NASDAQ Capital Market ("Nasdaq") on January 12, 2021 under the stock symbol LEXX and under the new CUSIP number 52886N406. There is no assurance that the common stock will be listed on Nasdaq on January 12, 2021 or at all, as the listing is subject to the satisfaction of Nasdaq's listing requirements, including a capital raise.
WHAT HAPPENED TO WE ARE ONLY DOING REVERSE SPLIT IF ITS GOING ON NASDAQ
I have been invested in this company for awhile Traded around a core position and been a defender of many things they have done. But the last 2 years management has disappointed me.
From your lips to gods ears but in that example Lexaria would have to be a $300m or so valued company and I don't see it.
**Correction**"Well if you bought just about any other stock 2 years ago your up. Lol "
Sorry for the mistake I worded it wrong. I mean you are better off. You have more $. etc
Cronos - down 50% since January 2019
CGC - down 35ish
Charlotte's Web - down 75%
Greenlane Holdings - down 60+%
GWPH - down 30ish %
CVSI - down 90%
Not every stock...
So again let’s be factual
I said January 3rd 2018 lexarias all time high
CRON +1.5%
CGC +5.6%
Charlotte’s Webb wasn’t trading yet
Greenland wasn’t trading yet
GWPH -8%
CVSI -17%
LXRP -90%.
I can also cherry pick stocks like you thought you did. Just about anything else performed better than Lexaria.
You didn’t mention GRWG which is up 1100%.
So just to really make a point. If you had $100k in Lexaria on Jan 3rd 2018 and held it through today because you believed in management team and company and all of the future achievements you now have $10k
If you sold and bought GRWG on the same day and held it you would have $1,200,000
Which today you can sell and own 4.8 million shares of the great lexaria. Man if only we knew the future!
Well if you bought just about any other stock 2 years ago your up. Lol
You love to spin the comments to suit your point. Bottom line since January 3 2018 the stock is down 90%. The overall market is up. The marijuana sector is up. The pharma sector is up. The biotech is up. Period stop
We all want this stock to do well and the company to succeed. years ago many of us thought this would be a 250m market cap waiting on blockbuster news. Not sitting at a 22m market cap and sitting out a overall massive bull market over the past 2 years and an incredible run in this sector.
So you have rules in place for these types of things. If you own over 5% of company you have to file if you own over 10% you have to state reason. Also majority ownership rules in place to limit this activities.
So Altria or whom ever after accumulating a 5% position would have to file. After each transaction if they don’t report and keep building position they are breaking the law. Second the broker dealer is in charge of this private placement. Hc wainwright in this case.
It’s fun to dream but security laws are very clear and a takeover or accumulating the size position your mentioning they would have to go a different route according to the SEC.
Go look at any transaction with company a taking a stake in company b. It’s very clear cut and not done this way. You would file a LOI then a definitive agreement.
True. I think with the S-1 amendments the thc divesture they got word it will be when they do xyz. They most likely would have already been notified if they weren’t going to get approved.
They wouldn’t hire and pay a broker dealer if that were the case. If you notice when we sold the thc business. Hill st didn’t file pp documents etc. they made deal and then registered securities.
I can give you many examples of this. I appreciate your optimism but your theory isn’t correct based on how companies negotiate strategic investments.
If you were correct we would have the most incompetent management team lawyers etc to do it that way.