You’re most likely somewhere in the ballpark of coming reality yet again. The more this sinks in, the more disgusting this deal feels. They really did shaft all us longs. I’ve been trying to find some positives and brainstorm some strategy here to still have this come out beneficial to those of us with 2020 enzc long shares, but those possibilities just don’t seem to be there. Maybe this won’t be a total disaster at some point but it’s sure looking that way now for any of us that got in super early with a massive amount of cheap shares. There’s absolutely no other way to look at this other than it’s a shifty way of doing a reverse split without the negativity of actually having to call it one.
It might actually be a bonus if saga drop to $3-5 like you hypothesize. Then through the make whole clause, we’d get double the saga shares than if it stays at $10. I’d rather that scenario bc then we just have to hope saga has a big run on company progress down the line. Nasdaq stocks can move fast on real news and will have less manipulation, so $3-$5 vs $10 where we start out won’t matter that much in the end. So I’d much rather see saga drop so they have to issue us 2x the dividend shares rather than the current figures that have been put out.
The best thing we can hope for at this point short term is that enzc has another run in it when people realize this deal is in fact happening and rush to get in for the dividend. It’s absurd that people are lining up to get in this right now. It may be a bad deal for us longs but it’s not for noobs that can basically get 2 for 1 for their money right now with the dividend. Prob a final unrealistic dream enzc dream, but if it could hit .15-.25 somehow and hold into the dividend, we’d at least have some room to make some good one last time profits on enzc before it eventually bleeds way down on “no assets and no operations”. If this stays were it is going into the dividend, 2020 longs are seriously screwed.
