Other than hope and prayer, can you share some concrete reason why UNQL will not raise the AS?
Fact 1: The company raised the AS from 500m to 800m only 2 months after going public for no (nada, zero, zip) good business reason whatsoever.
Fact 2: The company allowed 2 "lenders" to convert (108m + 63m = 171m shares) for no (nada, zero, zip) good business reason whatsoever.
Fact 3: The company gave those same 2 "lenders" over 2 BILLION shares for $3.8m dollars. What on Earth makes you believe those 2 "lenders" aren't going to cash those in??? Give just one plausible reason. They OWN those preferred shares and they are freely convertible. Trillium just converted another 32m. The ONLY limits are 9.9% at a time and an AS "limit" that can be raised by the company without a vote.
Fact 4: The company already announced a plan to offer new common shares to raise $40 million. That plan requires a raise to the AS. It CANNOT HAPPEN without a raise to the AS. They already publicly announced this plan.
Fact 5: The company already announced a plan to INCREASE the AS to 250m shares POST-SPLIT. Understand clearly please. That move to change the AS to 250m is equivalent to raising the AS to 100 BILLION shares today. 800 million times 400 is 320 billion. Soooooo, 250 million times 400 is 100 billion. That is a RAISE to the AS and it is already THE COMPANY’S ANNOUNCED PLAN.
So, state your case why the company will not just raise the AS soon while those "lenders" convert more and more up to the 800m limit? Ray will convert millions more himself, so why won't he raise to, say, 1.2 billion AS, and then convert another 150m himself "to maintain majority control"??? Other than hopes and prayers please.
This stock has fallen consistently and predictably since February 2021. It set an ALL TIME LOW today. And none of it was because of "a couple of posters" on a message board.
