The CEO spun off the auto body repair training portion of the company, kept it for himself and handed the shell to the Chinese company via a deal that gave the Chinese 180M shares........87% of ALL shares. I BELIEVE there are about 24M shares left out there somewhere most being held by retail investors.
It is very possible that the remaining miniscule MLGT float will lock with even MODERATE buying.
I came across MLGT while flipping DOLV this week, a company that got hot in regard to a similar Reverse with a Chinese battery maker. DOLV has 750M+ shares outstanding.
Imo, the DOLV Reverse Merger crowd is about to devour the remaining MLGT shares before the new, young Silicon Valley-type, Chinese company owners have a chance to get a News Release out that MLGT is now China SnapChat.
In conclusion, I think MLGT will get super hot this week and looks totally legitimate in regard to the deal.
When the Chinese put out a News Release that says lowly MLGT is no longer an auto-body repair training company......MLGT is now the Chinese SnapChat share price likely will go vertical.
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