- The alternative path to liquidity will likely take the form of a distribution or other transaction under which the Company’s common shareholders of record are issued shares in another publicly-traded company at a premium to the Company’s current market price, subject to fulfillment of the required conditions and the blessings of counsel for all applicable parties. That transaction is likely to involve a pre-existing equity interest in Artizen Corporation.
Can we all at least agree the publicly traded company in question is PVSP? If not, does anyone know of another publicly traded company that would be involved in the Artizen transaction? The PR stated PVSP acquired 100% of Artizen...
People are talking about "restricted shares", "preferred shares", where has this come from? Not KK! He has stated that he intended to increase liquidity for GERS' shareholders -- Restricted shares would not meet his stated goal.
I believe I'm the one that started this speculation. I can not find a quote where KK said he intended to "increase liquidity". What he said, 5 times in 3 different posts, was it's an "alternative path to liquidity". Whether or not the wording is important, I believe preferred, restricted shares in PVSP would in fact qualify as an alternative path to liquidity.
Here's the reasons why I don't believe it's common shares in PVSP.
*I already provided documentation that the 1 billion common PVSP shares owned by KK were returned and canceled.
*We didn't own PVSP. Artizen is what we owned and what was sold.
*The "currency" to pay for the Artizen acquisition is preferred stock. Not common shares.
According to the final agreements, the Company agreed to acquire 100% of Artizen...The agreements called for me to surrender my Series E, F and G preferred shares so the Company can pay for the acquisition with the new preferred shares... The new preferred shares issuable in the Artizen acquisition will correspond to 85% of the Company's outstanding equity. We are pleased that the acquisition brings an established business to Pervasip without issuing additional shares of common stock."
I'm open minded to other theories, but I don't see how anyone can come to the common share conclusion. The company specifically disclaimed the issuance of common stock as payment for Artizen. The company clearly stated they're paying for Artizen by issuing preferred stock. We were the owner of equity in Artizen. Preferred stock is the form of payment and no common shares will be issued in the Artizen transaction.
Why would we be issued common shares when preferred shares are the form of payment and common shares will not be issued?
KK said "subject to the fulfillment of certain conditions". Maybe I'm reading into this one but could that be another way of saying "restricted"?
He also said, the distribution or other transaction under which the Company’s common shareholders of record are issued shares.
Key words, "are issued". Pretense, they haven't been issued yet. PVSP said the preferred stock is "issuable". Again, pretense, not yet issued. Common stock in PVSP has already been issued and no more will be issued.
"We are pleased that the acquisition brings an established business to Pervasip without issuing additional shares of common stock."
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