Bowmo Inc (BOMO)

[DFYSW]

Yes, the 5% is a (maybe generous) WAG of the value for the UHLN contribution of its debt-carrying, tax-suspended, reporting-delinquent, pinksheet listing to the new enterprise. The listing could even be a shell now that was sold for a fixed price, so no participation for existing shareholders at all, just a distribution, but that's doubtful.

The early disclosure of the merger discussions may have impacted the planned ratio because UHLN shareholders should have a vote on the merger. However, last year there were significant UHLN preferred shares and debentures held by insiders that maybe were convertible into enough common to give insiders a majority vote, and therefore allow them to guarantee delivery of the listing on their own terms.

Current shareholders could be reduced to 5% ownership by any means of amending the share structure. For example, the 5,000 shares of Series B Preferred that were outstanding as of last summer were by themselves convertible back into 20M common shares, and the 3,381,520 outstanding Series A were convertible into an additional 33,815,200 common, so that's 53.8M votes right there, or 17% of the current outstanding if already fully converted, all before any convertible debentures that also may be outstanding.