To me it looks like they will swap 2mil common shares in iicpq for 1000 shares in nmkt china.
That will raise outstanding by 2mil.
From 23,836,323 to 25,836,323
The existing 23mil shares stay in control of whoever currently owns them now.
This is not the swap that gives nmkt control.
The 250k for the preferred is what will give nmkt control.
Ownership of a majority of the preferred will make NMKT the controlling shareholder of NMKT china.
It does not matter how many outstanding common there are because ownership here belongs mostly to the preferred. 20MIL OR 100MIL IN common shares outstanding it does not matter because NMKT retains Majority control with the preferred and not the common.
If they are planning on selling that 2mil shares right away
At current pps it would be around 200k.
If this is the plan it will cost minimal cash to take over this company it will just require selling 2mil shares from iicpq at a higher pps than what it was.
Don’t forget a few months back iicpq was trading sub penny people who kept those shares or bought some can now sell for much much higher.
At least this is what I understand here. Or what I think might happen.
But really it does not matter 1 bit.
What does matter is that NMKT will retain a majority interest in NMKT China and we will all get a dividend share in it.
As a result of the agreement and plan of reorganization, NewMarket China will become a wholly owned subsidiary of Intercell and NewMarket Technology will in turn become the controlling shareholder of Intercell.
Around 90% of all stocks that have 20mil in revenue trade with a market cap that equals revenue.
There is still room to grow in NMKT China.
This bodes well for NMKT China and the NMKT parent company and for us as well.
AI
