Hey Pyscho & Zoonall I know this isn't the board to ask this, but that board is wacko and I value your guys opinion. I don't know if you guys read my post earlier today, but wanted to see if you have an opinion. There is not a lot going on this board but us, and now I own both. Play money there serious money here. Anyway if you can give me 2 cents worth I would appreciate it and Psycho I know you are a Moderator on this board, let me know if I go too far. Thanks
I got this excerpt from ZACKS on Reverse Merger or Split. So if Delfin has 70% of TGLO and say they keep it that way and reverse merge with TGLO does that mean from the example below, that existing TGLO shareholders would receive 30% of the new issued shares after merge? According to Yahoo Finance (not sure if accurate) outstanding shares 441.48M and float 106.6M. What does everyone think.
Original Shareholders
If you are an original shareholder in a failed company that is planning to go through a reverse merger, you will have a chance to vote on whether to accept the merger. Since your stock is essentially worthless, voting for the reverse merger might seem to present hope of eventually recovering your investment. You will receive a certain number of shares in the new company in exchange for your original shares, but that number will be considerably smaller than the number of shares in your original holding. For example, the new company may trade 25 percent ownership for the public shell. If the new company has 100 million shares authorized, it gives 25 million to the original company's shareholders. If the original company had 250 million shares issued, each shareholder will receive one share of the new company in exchange for 10 original shares. In this example, if you owned 1,000 shares of the original stock, you would receive a certificate for 100 shares of the new stock.
