Jedi
Yes, this company is truly the "cream of the crap"
What about this crap from Jan 29 (highlighting is mine)
As previously mentioned, ILUS has been in discussions with a NASDAQ listed company
regarding a potential Merger agreement. Discussions continued during our meetings with
the NASDAQ company in the US last week and we can confirm that considerable progress
has been made. Currently our legal counsel is working with theirs to iron out the finer
details of the deal structure and both parties aim to sign a legally binding agreement very
soon with the intention that the deal be completed and effective before March 31st filings
are due. We believe that this NASDAQ strategy for ILUS will be beneficial to all Shareholders,
including those of our subsidiaries, QIND and SAML, as it would deliver funding that will
allow us to expedite our plans across the subsidiaries and their operating businesses.
And then this from Feb 1
We are writing to notify you that there has been a 50 million share conversion in return for
a $600,000 investment into ILUS. As much as this is disappointing for Shareholders and it is
something we certainly preferred to avoid, it is a necessary evil as we require this
investment to complete an important deal which is pending. We are expecting to announce
a major step forward for our group and we believe that this event will be the first in a series
of events which add the first major tranche of Shareholder value that we have been working
towards since our first Shareholder meeting in January 2022.
This investment allows us to realize the much-needed capital required to get over the final
speed bumps and execute this transaction swiftly. While we understand it is still
disappointing for shareholders, we are confident that the lasting value delivered almost
immediately far supersedes the short-term disappointment of this conversion.
The current progress being made allows us to achieve our goal sooner and more efficiently
while avoiding a reverse split.
