Strategic Asset Leasing Inc (LEAS)

[trader59]

But... put yourself in the shoes of the RWOD shareholders. Your board is proposing to hand over 6M shares of stock, massive dilution of your holdings, and all the cash in the treasury, to the owners of ANEW. What does ANEW/LEAS bring into this deal? $2k of cash, $5k of prepaid expenses, licenses that they, themselves, value at $2.2M, offset by accounts payable of $177k, a note payable of $1.3M, ZERO revenue, $500k of expenses for 9 months. Do you really want to hand over 6M shares of stock for that, to see your stock diluted for more than double the current O/S, and $57M for THAT?
No, you wouldn't, you'd walk and take your $10 per share with you, chances are when other NASDAQ investors see that crap, the PPS isn't holding $10.
You need to look at that document again, go to page 160 for the pro-forma information on the combined company, and scroll all the way to the right to see the "Assuming maximum redemption" columns, because that's going to be pretty close to what happens if this alleged deal progresses.