InvestorsHub Logo
Followers 175
Posts 16479
Boards Moderated 0
Alias Born 11/10/2008

Re: Cassandra post# 136896

Wednesday, 05/27/2015 3:32:12 PM

Wednesday, May 27, 2015 3:32:12 PM

Post# of 148342
Your statement "It does not make sense that a the owners of a private company would do a reverse merger into a public shell without taking majority ownership" makes sense. However, if you recall, there were 13B shares outstanding at the time of the RM. That is a lot of shares that could, and I would say DO, reside in the hands of the new management team. While the majority hold of management would not be "mammoth" number of shares considering there are only 50M outstanding - management could still have majority ownership.

Then you would have other "convertible" notes/certs that exist which have not contributed to the O/S yet but do have voting rights regarding management decisions.

Financials have yet to be presented to properly identify majority ownership stakes. They will be submitted/published in due time. I am of the opinion that the new owners do have majority ownership as it should be. To speculate otherwise at this time is unwarranted.