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Wednesday, September 28, 2022 9:22:56 AM
If thats true, it stands to reason that we have to go from 278.13M to 25.757M shares. That seems clearly stated unless we need to read what it means instead of what it says (again). That's a factor of 10.79 using current 278.13M outstanding and 59.9M pro-forma. So R/S at 10:1 to 11:1 sounds inevitable and the actual share price lands wherever it lands north of the nasdaq requirements.
Given the statements on page 36 I do not see how a reverse split is avoidable at all regardless of price. Existing shareholders get 43% of 59.9Million period.
I hate every bit of that. From there, we still need quite a bit more funding to get to production. How are those deals gonna look!? Sure I will have to hold longer and wait and see what unfolds if it gets into production. In the end the multiple million share holders will do well, but the small guys not so much but that is the nature of the world.
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