SIAR
I would expect the 8K on Monday, January 27th. Given the exercise of options in December, I believe management had the votes to pass.
What will happen now is a transfer of purchased assets, close out of remaining ASNB debt, the consolidation of monies, and the corporate name change to EKIMAS Corporation.
The old ASNB board will declare a cash dividend, not good for those holding the stock outside a tax protected accounts, and begin the process of selling the old ASNB corporate documents along with tax credits and operating losses to the EKIMAS Corporation that resides in Turkey. The old ASNB stockholders will get an unknown number of new EKIMAS shares at an UNKNOWN price traded on the OTCBB. The only action required is an 8K to the SEC. Here is that reference:
In the United States, if the shell is an SEC-registered company, the private company does not go through an expensive and time-consuming review with state and federal regulators because this process was completed beforehand with the public company. However, a comprehensive disclosure document containing audited financial statements and significant legal disclosures is required by the Securities and Exchange Commission for reporting issuers. The disclosure is filed on Form 8-K and is filed immediately upon completion of the reverse merger transaction.
So what is the final payoff for old ASNB shares? I suggested in the past the total payoff could be has high a $1.25 given the level of existing tax credits and operating losses. However, information on EKIMAS is very limited and why they would want a reverse merger is not clear. They are an "after market manufacture" of parts in the defense industry and others. They have a WEB site with a Istanbul address and telephone number.
Now we wait. Have a great weekend. Enjoy the IMPEACHMENT SHOW!!!!
