Tuesday, June 30, 2020 12:39:38 PM
This is about % ownership in Verus. I pulled this out of a document about owning 10% or more of a company....
Control. In the absence of other large stockholders of the company, a significant minority stake could cause the investor to be deemed a controlling stockholder, imposing upon it fiduciary duties to the company’s other stockholders and requiring it to deal with the company at arm’s-length, which can complicate efforts to realize synergies between their two businesses.
There are only a few large shareholder AG being one of them.
They are trying to grow the CBD portion and cannot be at an Arms Length for accountant purposes.
He has to get under the threshold so he can work with Paychederm Labs.
Do you really think it’s a coincidence that he’s doing this now...after holding for a year + after announcing the CBD division which is what he is into???
And he’s doing private sales and not realizing any profit?? He could have sold at .035....why didn’t he? But he’s willing to TRANSFER at .0025??
You think he was in this to hold not to make any money??
He’s moving these shares out of his personal hands so he can be within the Arms Length threshold to advise or take control of Paychederm.
It’s either that or he knows a RS is coming and he doesn’t want to get obliterated. He’ll buy back in later.
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