"About Gallant Brands, Inc.
Gallant Brands, Inc. (GBI) was founded with the specific purpose of purchasing Soupman, Inc. assets and operating the company under new management. GBI has identified one critical employee and has engaged a team of financial and food industry veterans with over 100 years' experience collectively as its management team. With an emphasis on strong cash flow, the Gallant team will implement simple operational changes, capable of saving the business over $1.2 million per year in spending while aggressively pursuing new business opportunities. Gallant is committed to communication, transparency, and accountability with the Soupman, Inc. constituents."
You are correct. GBI is private, founded by WealthColony specifically to purchase Soupman. Soupman is a clean shell with WealthColony owning almost 50% of the outstanding shares. Go read the Asset Purchase Agreement, or one of Dougster's many posts regarding the APA. Commonstock was excluded. Therefore, GBI will reverse merge with Soupman and the share structure will depend on the % ownership GBI gives Soupman. For example if GBI exchanges 40% ownership for the Soupman shell, GBI (WealthColony) will own 80% (60% + half of 40%, since they currently own half the O/S) while SOUP shareholders will get 20%. Previous Soupman shareholders will see their % ownership of the new company decrease, but with a cleaned up balance sheet and a strong cash backing, it doesn't matter. Our investments will increase exponentially despite the new share structure.
