I will continue to be an adult and speak intelligently. The formula is in black and white. The terms are clearly explained. Right below the formula is the information on the A, B, C, and D preferred shares. Do you even read filings? They will all convert upon merger. That is EXACTLY why the agreement addresses the preferred shares.
You're busted on not calling your broker. Nice dodge. It's not research. It takes a minute to look at the formula in the filings and then the fully diluted share amount in the 10Q. The truth has been explained, but you will learn the hard way. And the claim that a broker won't do the research for you is priceless. THAT'S THEIR JOB!!!
If someone owns 1m shares today, those will become 2,900 shares. Today, at 0.022, those million are worth $12,000. Once converted to EAC, they would be worth $29,000 at $10/share.
And THAT is where the BS is shameful to encourage folks to buy and get them into serious financial trouble. EAC will not trade at $10/share when it opens the day after the merger closes. Just watch. I've explained it all clearly based on the fundamentals.
The $10 price is ONLY based on the money in trust. There are now only 1.7m EAC shares outstanding with $17m in trust. Still $10/share. But, after the deal closes, all of that money will be gone to pay the EAC underwriter and fees for this merger. IT'S ALL IN THE FILINGS AND I'VE QUOTED EXACT PAGES!! These are filed with the SEC.
That means the market cap on NASDAQ will be the same exact value for UNQL it trades at today. Less than $10 million. That is the market cap for UNQL. When it opens on Nasdaq, the price will adjust to reflect that $10m market cap with 35m outstanding EAC shares. I've explained it precisely. That's going to be about 30 cents a share.
Let's say for the sake of argument that all $17m stays, (it won't) and call the new market cap $30m. That's still less than $1/share. Those 2,900 shares will be worth less than $2,900. Not $12,000. In order for those shares to be worth $12k, the market cap will need to be $145 million with 35m shares outstanding. KEEP DREAMING!!!
What you fail to understand is that today, whatever you own is only worth 0.012 based on 800m OS. If the company declared BK or is sold tomorrow, all preferred shares convert. It's in the documents and that's how preferred shares work. THEY OWN 95% of the company in cases of BK, liquidation AND sales of the company. EAC is BUYING the company. This is very basic stuff so 38 years hasn't taught you much. The fully diluted value of your shares today is not 0.012. At 9.5 billion shares and a $10m market cap, the value today (if there was a sale) is only 0.001/share. That means a million shares are not worth $12k, they are worth $1k. THAT'S HOW PREFERRED SHARES WORK!!
And you don't seem to understand that the EAC merger is a SALE of UNQL. It's called EDIFY ACQUISITION CORP. THEY ARE ACQUIRING UNQL. And, in the filed merger agreement, for anyone smart enough to read and make wise investment decisions, the UNQL shares will convert as if immediately upon the day before the closing. It says so directly in the contract.
To believe your story, none of the preferred shares convert upon merger, and those preferred shareholders get zero EAC shares. According to your story, those original UNQL investors will lose ALL of their equity ownership in the company. They get nothing. They didn't convert in time because Ray never raised the AS amount. They are the big losers. Ray, Great Eagle, Lucosky Brookman, Trillium, 3a Capital, Front Four, Southridge, Briones, Hicks, Canouse. They all agreed to a merger deal that will wipe out all of their preferred shares and they will get nothing. That is how stupid it is in the real world when anyone considers your nonsense. The guy on the internet is going to make BANK on UNQL, but the lawyers, corporate executives, investment bankers who already bought UNQL for $10m in 2020 and then loaned another $4m will end up with nothing. As you say ROTFLMAO!!!!
Just watch. I'm done dealing with your nonsense. Anyone who listens to that nonsense deserves what happens.
