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Wednesday, June 19, 2024 4:05:14 PM
ABBIE was acquired from CGA 369 for $10 million. The first payment of $6 million will be paid in 12 months from the effective date and will be a combination of $3 million cash and $3 million in restricted common stock. The remaining $4 million payment to CGA 369 will be triggered by ABBIE’s first $50 million of commercial sales.
3 million of restricted common stock would be 3 billion shares at the current share price.
Where is SHMN going to get the money for the 3 million in cash? Are they using most of the "up to 5 million" in financing? We know they aren't selling anything from the financials (of any appreciable worth). They aren't manufacturing anything.
Just AI generated tweets and pie in the sky projections that never come true.
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