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Wednesday, April 24, 2019 10:57:43 AM
There is not a limited amount of cash on hand as you have stated. You are basing such thought on what was indicated within the 10-K. The 10-K does not indicate all of the sources of cash that could be used to consummate the Rotmans acquisition. Regarding the VYST acquisition of Rotmans Furniture, here is a summary explaining such from some of the emails from Greg Rotman to shareholders and posts that were made within this forum on the matter...
They are calling this acquisition a consolidation even though it acts like a merger in the traditional sense. This means that Rotmans will be added into VYST completely into one combined set of financials; Income Statement, Balance Sheet, etc. The owners at Rotmans are selling their stock to VYST based on what was disclosed in the last 10-Q under Subsequent Events Note 12:
https://www.otcmarkets.com/filing/html?id=13070644&guid=_5S3UeIC064Foth
The deal will be consummated with half cash and half stock. The cash will be paid out to Rotmans over a long period of time so the cash part is not a concern for VYST. The stock is going to paid out from VYST in the form of a note that will convert into shares, but only after the consolidation and at much higher share prices long after key milestones are met such as submission of application to NASDAQ with a combined SEC filing posted. They are doing the deal like this because they believe it is the least dilutive since the consolidation will have long occurred and VYST should be trading with the market having the awareness of the combined financials; Income Statement, Balance Sheet, etc.
I'm surprised that some are not getting this even after this has been explained a few times. I suggest to wait and see what happens.
v/r
Sterling
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