Tuesday, May 10, 2022 5:21:34 PM
Guess you are referencing the proxy statement filed today.
1 Billion. Nice.
Only took a couple weeks to dilute the current shares by 40% (roughly 20 mil to 28+ mil).... looks like CFO got most of that .... but wasn't explained when originally noted. Dunno who got the rest.
No surprise really. And they don't need SPIN shareholders to vote as they own 96% of the controlling vote. And they say as much in the filing. LOL. No shareholder meeting this year. LOL.
At roughly 515ish million shares out on conversion .... this ain't worth a market cap of $100+ million. Surely more dilution to come although they have $1+ million on the balance sheet ...... dunno how they come to market with product without more money.
Be nimble.
Surprised ticker hasn't been changed yet either.
Amigo Mike
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