Dilution Pollution
Between Dec 31, 2019 and June 31, 2020, the exact number of shares added were 8,909,831 shares added from conversions, and there were some exercising of options too, adding 700,000 to the OS. But the options aren't significant.
Steve Janjic was given 16,765,727 shares for Amercanex, and those are restricted at this time. So he has taken a severe beating, and rightly so because insiders need to suffer with sharehholders. What he sold to us for $16M is now worth $2M at today's closing price. Complete rip off if his expectations are met this year.
In addition, his expectations are in alignment with ours here: "To secure the indemnification obligations of the GTI shareholders to the Company under the Merger Agreement, 4,140,274 of the Company shares to be issued to the GTI shareholders will be held back and the Company will be entitled to retain such number of the holdback shares as necessary to satisfy those indemnification obligations. 50% of the holdback shares that remain after satisfaction of any indemnification obligations will be released 12 months after the closing date of the merger, and the remainder 24 months after the closing date of the merger. Additionally, if in the first 12 months following the closing GTI generates less than $1.5 million of revenues, 100% of the holdback shares shall be returned to the Company."
That's called PUNISHMENT. I'm sick of shareholders getting punished. Predatory lenders are not getting punished. I want to see INSIDERS punished. Or perform! Fix the situation! Don't serve us a platter of #$#@% under $1.5M this year from Amercanex, now part of Cannatalytics.
Don't let us down, Zac and Scott. And Mr. Ogur, for the record, AVOID September's dilution. Go talk to Corbel Capital, please. Not this delusional character on the board, but to Corbel Capital or someone relevant. Please. Pretty Please!
Yeah, and I can't find anything coming up this year except the convertible for September for $222,506. And that would convert to over $2M shares at today's price, so that's not bad considering the 9M first half of the year.
I think Toler has some great ideas here. I want Toler angry at his stock compensation. He deserves better. I deserve better. Emerald and KP deserve better. Laurel and Hardy over there, they deserve the boot but that's another story.
Other than that, looks like the coast is clear this year. But WATCH YOUR BACK on those three extended loans that come due in June of 2021 or thereabouts. WATCH YORU BACK. And the new RESTRICTED convertible that converts at a fixed price of .11 next May or so. I like those accredited investors. So they can be PISSED off with Emerald if they don't see a good predatory-type return. Coast is clear. You have a year to work on removing those predators too by paying their high-interest loan off. I hope it's callable. Now, let's stop jacking around and go places and start touring the world!
