Sagaliam Acquisition Corp (SAGA)

[falon]

ENZC for the most part will be a shell of its former self when the company move all the valuable assets to the newly formed entity.

Normally for a SPAC deal the entire company is part of the business combination.

It did not happen in ENZC case for a number of reasons and here is a few:

1. Stock structure

2. Number of outstanding shares

3. Reporting status

4. Financial situation

5. Different share classes


If ENZC was in a position to due a normal SPAC deal and move the entire company then people wouldn't be confused, upset, concerned or whatever gripe they may have.

It doesn't matter what happens to ENZC the assets and focus are in the new company.

If anything becomes of ENZC, it will be icing on the cake however it will be minuscule as compared to what the newly formed company will produce.

The bottom line is and has always been can they deliver with the newly formed company.

Will we see success in Africa.

Will we see multiple clinical trials started soon after the money is in the bank.

Will we see licensing agreements.

The press releases over the past few months have been very positive, confident and upbeat as you would expect with the situation at hand.

There are red flags:

1. SAGA not filing their reports on time - it is a minor issue however it happened with the 10K which they filed a month after getting a SEC delinquency notification letter and it happened again with the 10Q so I expect it to be filed by the end of the month as they received a SEC delinquency notification letter on July 25, 2023.

2. Limited funds in the trust account will require a significant PIPE transaction.

3. Barry J. Kostiner failed to deliver SPAC deal with Sunfire Acquisition Corp Limited as Chief Financial Officer & Director. He is the Chief Executive Officer & Director in our SPAC.

Overall what we know about ENZC suggests that this deal is expected to succeed on all fronts. We have only been shown very little on what the ENZC is sharing with the MAJOR players that brought this deal about in the first place. NDAs are probably playing a role as well as mAbs ready for clinical trials.

Timely, Interesting and Accurate

It is all about comprehension - the action or capability of understanding something.

"Some don't have the least comprehension of what ENZC is trying to do"