Wyoming New Power filed an SC 13D for their acquisition of 85.7M shares (17.15%) of CCTC.
Coincidentally, after being broken for months, CCTC's homepage has been restored. Yay!
We already knew the recent jump in OS from 414M to 500M were shares issued to WNP.
What's new, or at least confirmed, is that the "principal lender" of the $18M mentioned in 14A proxy statement is indeed Wyoming New Power.
This is important! Years ago, WNP paid a small deposit on a license for a 2-MTPA Pristine-M processing plant in a deal to be finalized once CCTI has demonstrated its improved process. Since then, WNP has accumulated $18M in CCTC convertible notes. They must really want that plant!
If we Vote YES for the reverse split, $18M in debt will be converted into shares for our largest investor who is also a client. While the O/S will increase tenfold, it is very unlikely we will see those shares floating; assuming WNP still believes in this tech and want to see it commercialized. This post-RS dilution might not have the huge negative impact on the PPS that we all feared. *fingers-crossed*
With that in mind, consider that Aiden mentioned a potential uplisting of CCTC to the Nasdaq in an official SEC filing (5/20/22 DEF 14A). I believe that was a first. The last time I checked, Nasdaq's listing requirements included a minimum of $3/share. What seemed so unlikely last week, might actually be within the realm of possibility... assuming a reverse-split to 0.40, restoration of OTCQB status, debt conversion without dumping, rebuild financing, successful testing, commercial licensing, and new management (j/k).
In any case, it's a win-win for WNP:
Vote YES for the RS, WNP owns 95% of CCTC.
Vote NO, WNP forecloses on CCTC's assets/patents and takes the tech private.
Please vote YES!
