Unique Logistics International Inc (UNQL)

[LJ-Bodhi]

I big run on Nasdaq woukd be great, no argument from me at all. However, that math on the RS is off. The number of new shares offered to raise $37 million will be at the post-split price. Let's assume that price is $5. It would require 7.4m new post-split shares to raise $37m. Then, we would add that to our current OS post-split. 655m becomes 2.18m shares at 1 for 300 split. Added together, there would be 9.58m Outstanding Shares and 250m Authorized Shares. Market Cap at $5 would be $47.9m.

I believe the preferred shares would be reduced by a factor of 300 as well in that scenario. The conversion rates would adjust to. So, even though the actual "numbers" would change with the RS, the massive potential dilution effect remains exactly the same if all the preferred shares get converted. I have no idea, as stated many times, if anymore preferred shares will be converted. It is a possibility to be aware of.