Unique Logistics Intl Inc (fka UNQL)

[LJ-Bodhi]

IMO this has been 3a Capital selling off the 25m shares they pledged as part of that old $41m capital raise. Those shares were locked up the entire time that S1 registration statement was pending. On 12/19, the S1 was revoked, making those 25m shares unrestricted. Selling them off, chunks at a time. If they average 1.5 to 2 cents, that's a nice $375 to 500k. Not the $1m they were hoping to get at the old 4 cent price, but even rats know to run away from the water on a sinking ship.

The alternative is to hold 25m and have them convert to 75,000 shares after the reverse merger closes. At $10/share ($350m MC) they would be worth $750k. But, at $1/share ($35m MC) they would only be worth $75k.

Rats are quite smart and resourceful. 3a Capital isn't holding onto those 25m common shares IMO. They also don't want the price to tank like Trillium let happen.