Enzolytics Inc (ENZC)

[foxi]

"Muddying the waters" refers to accounting. ENZC owns half of Rosetta and Rosetta owns $2.5 million worth of par value .0001 ENZC Series E Preferred shares which may be convertible to an unknown amount of ENZC common stock.

If Rosetta can convert shares, the conversion itself is the only part that would need to be in ENZC's accounting. Whatever else Rosetta would do wouldn't be on ENZC's record books, even though ENZC would stand to benefit. IMPL has the same potential, but I don't remember them owning any ENZC stock.

To avoid the appearance of Insider Trading or other types of fraud, I would suppose ENZC needs to avoid trading vicariously through Rosetta.

The next financials they file might clarify some things. Also, I'm just a fox on the internet, so maybe somebody with more experience can weigh in.