Strategic Asset Leasing Inc (LEAS)

[Werbe]

The whole prior merger was contingent on the RS and preferred being immediately converted. That needs to happen before they can even think of this merge. That is the reason they hamstrung this @ $60m consideration. The RS will bring OS to 400,000 but immediately converts 40m shares onto the OS. If they valued all that @ $60m, that would be post split PPS @ $1.46 and prior split price @ .00058.

On November 1, 2021, the Company (the “Legal Entity”) executed an Agreement and Plan of Merger with Anew Acquisition Corp, including the wholly owned private subsidiary ANEW Oncology, Inc., (the “Accounting Entity”), whereby each issued and outstanding share of the Accounting Entity common stock was converted into the right to receive one-one hundredth (1/100) of a share of the Company’s Series B preferred stock, par value $.001 per share. On November 1, 2021, the total Accounting Entity stock issued and outstanding was an aggregate of 40,525,000 shares and 46 shareholders which was converted into an aggregate of 405,250 shares of the Company’s Series B preferred stock. As stated in the Agreement and Plan of Merger, each share of Series B preferred stock shall automatically be converted into a number of shares of Company’s common Stock equal to the number of shares of Series B preferred stock being converted, multiplied by 100 on the date of the completion a reverse common stock split for an aggregate of 40,525,000 shares of the Company’s common stock.