I saw this post on RB. It might explain the shares.
snips, you're finally growing a brain in that empty head of yours. Wessal is a $25 million PIPE financier. The lower Wessal can take it down, the more of the acquired public vehicle it owns. (by the way, Eliott Spitzer's mom is a do-do head. There has been NO "MERGER", check 3 sources, 1) the Secretary of State - no merger filings - 2) the LFWK PR disclosing Sulja ACQUIRED , not MERGED INTO, the LFWK public vehicle & 3) Sulja incorporated an acquistion corp in NV).
Wessal is the parent company of the Red Sea Group hedge fund. There are no audited numbers because - 1) SLJB is an empty shell the Sulja Acquistion Corp acquired for ROI & 2) It would disclose the UNREGISTERED REG S SHARES RED SEA IS GETTING TO HEDGE TRADING FOR WESSAL'S BENEFIT, LOWER PPS.
What you have here is a variation on a SPAC scam. Instead of the Sulja Acquisition Corp being the blank check public vehicle, the acquistion corp ACQUIRED LFWK's PUBLIC VEHICLE (NOT MERGED INTO IT). If Sulja Acquistion Corp was the SPAC corp, it would require 80% shareholder approval to acquire LFWK. In this case, LFWK insiders own the float, they say, and are non-reporting. So LFWK never held a shareholders vote to approve the acquistion of their public vehicle by Sulja's Acquisition corp.
If the scammy pro forma numbers don't tell you its a scam, because the pro forma numbers are for another Sulja corp, not the SLJB public vehicle, the fact that LFWK sold the public vehicle to the Sulja Acquistion Corp, raised the a/s, retained an OFFSHORE HEDGE FUND, Red Sea Group, getting an UNDISCLOSED AMOUNT OF UNREGISTERED REG S SHARES THAT THEY ARE USING TO HEDGE THEIR PARENT COMPANY, WESSAL'S, POSITION IN SLJB TO OWN THE PUBLIC VEHICLE & ACQUIRE ANY ACQUISTION THE SPAC ACQUIRES DOWN THE LINE.
Wessal's stock preferences are still UNDISCLOSED AS WELL?
1) WHAT ARE THE MULTIPLES ON THEIR CONVERTIBLE? 1:100?
2) DO THEY HAVE SUPERVOTING OR/AND LIQUIDATION PREFERENCES?
This is what the Olsen Division hedgers did at QBID. They wound up with all QBID's assets that they transfered to their other shell corps. They also liquidated, with liquidation & supervoting stock preferences, 350 BILLION SHARES INTO THE FLKOAT VIA 5 a/s INCREASE IN 1 YEAR while STOCK-UP BLAMED "SHORTY"!! SHO reports QBID short interest is ZERO SHARES.
AI
