Solei Systems Inc. (fka SOLI)

[layoutd21]

Sure, they saved a lot by going public this way, but saving even hundreds of thousands of dollars doesn't explain why the LOI price would drop 90%. Even more importantly, initially they were going to receive the stock at close, now they get it in October. Even at current prices that's less than 2% ownership. Would have been around 50% when the deal closed. Really raw deal for these guys.

Only 2 of the six equity holders stayed with the business so the employment agreements mentioned by someone else don't really explain this either. And if they got significant interest in the subsidiary that just means common holders own less, not really a good argument for a higher share price.

That's what I'm having trouble understanding and don't feel has been addressed by posters here.