NewMarket Technology (fka NWMT)

[my02cents]

Deal looks good for NMKT's books

Much later, when the preferred shares are converted to common and distributed to NMKT sharesholders, we will see what the benefit is for us.

PV said that NMKT would not do a reverse split on IICP stock. However -- big point -- there was wiggle room to say that, in the future, "IICP" could do a reverse split!

The only thing that makes sense for me is:
1. Wait until after close of the deal,
2. R/S IICP 1:10 to get the outstanding down to around 2.5M shares of IICP
3. Convert the preferred into 18.5M common to distribute to NMKT shareholders (1 IICP for each 10 NMKT shares).
4. Result: New IICP common at 21M shares.

From the 8-K.

10.7 One director of IIC shall resign effective at closing. The Board of Directors of IIC shall appoint the following individuals to the Board of Directors of IIC concurrent with the closing of the transaction contemplated in this Agreement:

Philip Rauch
Philip Verges

10.10 Officers of IIC shall resign effective at closing, and the Board shall appoint Philip Verges and Philip Rauch as President and Secretary, respectively.