Here is the truth!!!
Here is why a R/S would force Delfin to lose majority ownership of the company. Their assets are in the Billions of dollars and there is no way their big time Reverse Merger Attorney firm would ever suggest or agree to a R/S of Delfin/TGLO!!! These numbers absolutely support the theory of a R/S as total BS!
Delfin owns 312,825,952 shares 70.9 % of the stock, majority ownership
Lets assume a 5 to 1 R/S which would leave Delfin with 62,565,190 which would still constitute a 70.9% ownership but only if they do not issue any more stock. Each share they issue at this point would decrease their percentage of ownership.
Now the reason why Delfin wants to go public is to raise capital for their business plan execution so they would then have no alternative but to issue shares to sell to the street for capital.
Lets say they authorize a secondary offering of 200,000,000 shares because the stock price, at current levels, would be .75 after the split. That would give them $150,000,000 in capital. Far less than what they need which is several billions of dollars.
Now they sell all those shares to the street meaning the issued is back up to 288,296,967 shares (441,484,838 / 5 = 88,296,967 + 200,000,000).
Now with Delfin owning only 62,565,190 shares it would now constitute an ownership of only 21.7% down from 70.9% therefore losing total majority control of the company and the assets they have!
