Tuesday, April 23, 2019 1:18:01 PM
Apologies in advance if the below have been covered extensively, as I was just able to log on and am trying to catch up.
O/S increase to 1,041,103,892
Consider the valuation post merger/consolidation essentially cut in half (as of today). Further, for the consolidation to even occur, the deal will involve 1/2 stock (according to GR), which means more dilution, and an even lower valuation. And who is to say there won't be any surprises in Rotman's fins, given what was dropped on everyone today.
Additionally, if anyone can help to make sense of the below, it would be appreciated.
The conversion rate for Crown Bridge appears to be at a share price of 0.00018.
$5948 / 32,240,000 shares = 0.00018 PPS conversion rate
How is this even possible, considering the lowest PPS that VYST hit was ~0.0005 on 24Dec18? Please correct me if I am misunderstanding this.
It now seems more obvious to me why FirstFire (in addition to Crown Bridge) "invested" $200k in the first place. Crown Point is currently holding ~$2mil in shares, and FirstFire most likely much more, considering the conversion rates. It's a win/win for both of them. VYST share price would have to drop more than 10x for them to break even. Again, we have no idea how many shares FirstFire was issued ("pending review") nor at what rate, as the 10K does not clarify, though it may be prudent to assume FirstFire was issued more shares than Crown Bridge, based strictly on the dollar values ($5948 for Crown Bridge and ~$15,000 for FirstFire).
In short, it seems to me that GR is misleading investors. In fact, I spoke with him only a few weeks ago and queried him on the O/S. He told me that the count was around the amount provided in the January 2019 PR, which states the following (see below) and suggests that the O/S = ~500 million. Now, that number has more than doubled. Talk about trust issues...
On a brighter note, this stock will continue to be a great stock to actively trade.
GLTA. Tread carefully, imho.
Recent VYST News
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- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 10/26/2023 06:46:25 PM
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