Strategic Asset Leasing Inc (LEAS)

[trader59]

Sorry, bud, but from the start the owners of ANEW said they were doing the 1-2500 RS. It was there in every financial document they published. That would have the effect of lowering the O/S to a little over 400K shares. When they merged in, they got just over 400K preferred shares that convert 100-1, meaning 40M shares. It was very clear to anyone who could read that the owners of ANEW were going to own 99% of the equity in the public ticker LEAS. And they should, they're the ones who started and invested in ANEW when it was private, they owned 100% of it and weren't going to give it away to the bagholders of a stinky pink shell company.
Only when the RWOD deal looked like it was going through did they say they no longer needed the RS, but they've never published what the exchange was going to look like. You can get a clue about that by looking at the CEO's portion of the 6M shares of RWOD, he gets 1.4M of it. The other preferred shareholders will very likely get the lion's share of the remaining 4.6M.