1) On November 1, 2021, the shareholders of Strategic Asset Leasing, Inc., approved a name change and approved a 1-for-2500 reverse split. On April 19, 2022, the Company filed an Articles of Amendment with the
State of Wyoming, changing its name to “ANEW MEDICAL, INC..” and requested the contemplated 1-for-2,500 reverse split.
2) That's why it's important to note that the change to the corporate charter for the reverse split was filed with the state of Wyoming in conjunction with the reverse merger. Of course, states don’t approve reverse splits. FINRA does and they provide ample advance notice. Obviously after all these months, that has not happened. The most recent Q takes great pains to say “reverse split and name change have not been declared effective.” Easy to extrapolate why, as the recent price action speaks for itself.
With respect to the ANEW corporation, it's changed already, and the corporate charter and related documents as they are is the business being combined. Redwood would know that, and they wouldn't care provided the $60M buys the equity of ANEW, no matter who holds it.
3) If you really think they won't RS the common stock and that this CEO and the folks who owned ANEW prior to the RM are going let the bagholders have 99% of the $60M, you are on the right track per the most recent filings. Therein lies the truth.
4) I'll suggest you read latest Q which says “The Company must submit
additional documents requested by, and necessary to obtain approval of, FINRA in connection with the subject reverse stock split and name change. As of May 15, 2023, the reverse split and name change have not been declared effective.
If they did a RS now, the stock price would be .0043 x 2500, or $10.75!
5) Sinkule owns the vote for LEAS and documents show there has been NO dilution. As is common with CEO-owned preferred stock, Preferred C's are currently for voting control only, and are never subject to an RS situation.
6) From the Q: On February 21, 2022, we entered into a Stock Purchase Agreement with an individual to sell 1,666,667 shares of the Company’s common stock for $250,000 or $0.15 shares. The shares issued will be calculated on a postreverse split basis. The Company has a planned 1-for-2500 reverse stock split of its common stock was not declared effective as of May 15, 2023. The shares have not been issued to the individual at May 15, 2023.
Sooooo… does anyone actually believe some stockholder will sell his $10 Shares for .15? (Remember- the share total is calculated on a postreverse split basis. Heck of a deal for the company, LOL.)
I appreciate the thought provocation and seeing someone actually reading the documents. It removes all fear from the equation, and restores confidence in the merger as documented in actual legal filings, Follow the money, the wise man said.
The world is my topic and I never post off it
