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Tuesday, April 10, 2018 9:46:11 AM
There are many incorrect assumptions floating around:
- Delfin wants (or even needs) existing TGLO shareholders. When they do a secondary offering, assuming it's successful, it will provide more shareholders than they need to uplist. And those shareholders will have paid much more than current shareholders for their shares because current shareholders will be R/Sed down significantly.
- Delfin doing a reverse split will make them lose control of the company. A reverse split changes nothing about ownership percentages, so Delfin will still own 70.9%.
- Deflin will contribute their assets to TGLO with the current share structure. Diluting their assets by 29% off the bat serves no purpose and violates their fiduciary duty to the current Delfin shareholders.
The reality is that Delfin will do what TELL did and what all legit companies do who want to go public via a reverse merger:
- They'll reverse split to create a large number new shares for sale.
- They'll exchange a large number of new shares for their assets which they will be selling to TGLO.
- They'll do a secondary offering to boost their capital
- They'll uplist to Nasdaq.
"There's a sucker born every minute, 2 to take him and 4 to lend him toxic debt" PT Barnum's investment advisor.
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