Greg just called me.
It was funny, he thought he was calling me for the first time, just returning a voicemail from yesterday. I took the opportunity to ask him to flesh out the details of how they are consolidating Rotman’s into Vystar.
The deal is $4 million, half in cash which is coming from Rotman’s own reserves, and half in the form of 2 millions Preferred shares. The preferred shares are convertible on a 1:1 basis with common at a trailing average price of the common shares currently pps. The purpose of this is to maintain controlling voting rights, it is in effect a poison pill to prevent a hostile takeover. There is also a sunset clause on the substantial voting rights of the preferred two years post-consolidation.
Much more coming, and 2019 is going to be amazing for this company.
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