Unique Logistics International Inc (UNQL)

[LJ-Bodhi]

I almost completely agree with you. Those preferred shares will convert immediately to UNQL common shares, and THEN immediately get exchanged to EAC shares. I agree with your 0.0029 exchange rate and the amount of EAC shares they will receive. All of those shares will immediately be counted in the new OS for EAC, added to the 7m already in EAC, plus about 1.3m from the conversion of the current 799m OS for UNQL. I also agree those preferred shareholders, who will immediately receive EAC common shares, are subject to that lockup agreement and cannot SELL for 6 months to a year. There are some milestones that can trigger a few earlier transactions at 6 months, but I don't consider that significant. What I do consider significant is the massive 95% dilution those immediate conversions will do to the EAC outstanding shares, and subsequent share price. At a $10m market cap and 35m OS, the price on Nasdaq will only be around 28 cents. Even if the market cap magically becomes $100m, that's only a $2.80 share price.

So, however many shares you or anyone else owns through the merger, do the math. Exchange at 0.0029 and prepare for those share prices. Hope this helps.