I pray that I am JT. Charles statement in today's SAGA PR about having shares in both companies makes me feel a little bit better, but I am still very confused as to what IP ENZC will have after the deal is done. Also, Charles made a statement with the original SAGA deal PR that "ENZC will continue trading on pinks." He made this statement after 2.5+ years of all of the talk about audits & SEC reporting, so ENZC could get out of pinks. Now supposedly his plan is to continue on pinks? That, along with all of the nonstop selling of unrestricted shares, does not inspire confidence for me, in the future of ENZC ticker.
My point and worry, and I don't believe I am alone here, is that I've held ENZC and passed up massive returns, because we were all led to believe that we'd see ENZC (and the qty of shares that we each own) explode in value (realize it's true value), not to see that value, along with our C-Execs, sold to another company, where we'll end up with a tiny fraction of the shares that we currently own in ENZC. I believe SA is right in the way the dividend will be calculated (%), but I don't believe for a second that it would be based off of the full $450M. I believe it would be closer to $200M best case. This would mean that if SAGA's pps was $11, for every 1 million shares (or 0.0332% of ownership), we would get roughly $66,427 in SAGA shares (6,039 shares).
That said, whether or not I view this as bad, good, great, or amazing, completely depends on what happens with ENZC after the deal, as well as what IP do they actually own after the deal? I'm pretty sure ENZC completely loses 100% of the AI platform, as that belongs to BGEN, so best case scenario is that we retain ownership of Clone-3, ITV-1, and all of the other mABS.
I'm not saying that this deal is good or bad for us, as I personally need more details to make that determination.
1. What is the plan for ENZC? Are we remaining on the God-awful pinks, or are we going SEC reporting as promised for 2.5+ years and moving up? For the past 2.5+ years we have been publicly told NOT TO CHASE ENZC DAILY PPS, which suggested that ENZC pps would eventually realize it's true value, and convinced many to hold, while those with restricted shares have been selling non-stop the second their shares went unrestricted. So, does their vision for ENZC include it appreciating to it's true value (C3 Alone presented to us as $9.09B per year)?
2. What IP does ENZC own after the deal? Does that IP have the potential value to move this where we were originally led to believe it was going?
3. When Charles talks about future BP partners, are they going to partner with ENZC or with the SAGA/BGEN/VIRO?
Anyway, like I said, I'm not suggesting that this deal is good or bad, as I don't have the info to make that determination yet. However, based on everything that they've shared thus far, leads me to believe that the value we were waiting to see in ENZC, is being moved to BGEN (AI + C3 + other mABS).
