Skye Bioscience Inc (SKYE)

[zenvesting]

I have a hard time believing Emerald would make such a drastic change in direction from January 19th when their CEO said: Dr. Avtar Dhillon, CEO and Chairman of Emerald’s Board of Directors. “We greatly value the intellectual capital and discovery capacity of the University of Mississippi, with which Nemus has an exclusive agreement for novel cannabinoid technologies. We will work to support the business and developmental vision of our CEO, Dr. Murphy, across a spectrum of medical indications of unmet need. The Emerald Board believes that Nemus presents a significant value proposition for investors and we look forward to advancing its pipeline into clinical development.”

Further, I don't think Emerald would have placed board members if their intent was a quick flip of their shares......and likewise, I don't think Nemus was so desperate that would have turned over control of their company right off the bat like they did if there wasn't some strategic plan and purpose of giving Emerald a majority position.

That being said, wouldn't they need to register their shares for strategic acquisition and/or mergers to? Emerald Health Sciences, Inc. (EHS) is the current owner of the stake in NMUS, but they are bringing their daughter company, Emerald Health Pharmaceuticals (EHP) public through a Reg A+ IPO:
https://www.newcannabisventures.com/emerald-health-pharma-files-for-50-million-reg-a-ipo/

Would this registration be needed to transfer the shares to EHP, or affect a share swap or some other transaction to combine the businesses if that was in their intent?

Also, I'm not a securities lawyer so take this with a grain of salt, but the company filed 3, S-1 Registrations in January, March, and November of last year with the November filing addressing some of the preferred shares that were bought by Emerald. Aren't they required to keep their S-1's current based on any changes and since Emerald bought some of the preferred stock discussed in the November S-1, so I think they may have been obligated to update it in a reasonable time period as a matter of procedure.

Disclaimer: This situation and this post is all very speculative, investors should take adequate caution and base their own investment decisions on their own research and not invest more than they are willing to lose.