Picked up a few more shares of the EAIN shell today. Still holding all of the shares I accumulated previously (currently averaged in under $1.22 per share). The Q3 report filed over the weekend disclosed that David Lazar sold controlling interest in this shell......
It was extremely disappointing to see that the previous RM that Lazar had apparently lined up for this shell could not be completed. I thought the Mirror Biologics reverse merger would have had some amazing potential. Whatever is going to be done with the shell now will probably be a significant step down in overall excitement and transparency.
But having said the above, there may still be an opportunity here for an interesting move in the share price based on how the new CEO's other stock has performed. It looks like EAIN and HAFG (Holistic Asset Finance Group) will basically be like sister stocks. Liu Zhongkuo (John Lao) took control of a Joseph Arcaro shell back in 2019 and merged in one of his finance-related companies during 2020. It is not entirely clear if he is planning to do the same thing with this Lazar shell or if he has other plans for it.
I think it is interesting to do a comparison of the legacy share structures/valuations of these shells at the time Liu Zhongkuo took control, and then look at the HAFG stock chart (see below). One of the benefits/drawbacks of owning stocks with ultra-low unrestricted share counts is the opportunity/nightmare of wild explosions/implosions of the share price. It sounds a little on the crazy side, but it is not out of the realm of possibility that under the right market and stock-specific conditions EAIN could/might see a spike at some point well over the $20 price that HAFG achieved.