hi scoob. there are a lot of variables going into it IMO. it all depends on how much dalian can dilute the shell stock holders, which is probably subject to a floor that will protect the minority holders (shell stock holders). i.e. you aren't allowed to just dilute the shares to nothing. on the flip side, a ton of premium will be created by the companies merging. so IMO, there is a floor around where the shell trades now, and then upside depending on how much money is raised, what the public values the merged entity at, how much ownership is given away via warrants to other parties, what the investors value the company at, etc., etc. If I were to guess, I would say that Dalian will use those 5MM untapped preferred shares and say that for x number of preferred shares, they can convert into y number of common shares. they will get themselves up to 90%+ ownership and then the financing will come into play. IMO, it will be hard to not make money on PLLK if this deal gets finalized. we'll see . . .
