NEOM gets 10 million from the exercise of the warrants. They get nothing from the subsequent sale by Cornell and the consultant.
Further I also forgot to mention, that per agreement Cornell can not own more then 9.9 percent of the company, and the 50 million shares alone is over 10 percent of the outstanding shares, not counting the shares Cornell already holds, so they have to sell the warrant shares.
Further NEOM can not force them to exercise all the warrants when it exceeds the 9.9 percent they are allowed to own, unless Cornell sells some of its shares.
And yes some of you were aware of the SEDA since March, but apparently not everyone is aware, or there wouldnt be questions now asking about the 54 million. How many new investors you think are here that invested since March and arent aware?
BTW since I only have 2 more posts today there is another issue I want to address that was brought up in a prior post by a poster.
Thewy stated that WOOG was well informed and done much more research here then any other investor and therefore was in the know.
Let me posts some DD facts here, that shed some light on the company.
1. Of the 450 million shares outstanding, Institutions only hold 500,000 shares. Someone bullish on the progress needs to consider this and put their bullish posts in perspective. Ask yourself why Institutions dont own this stock if this thing is ready to fly high?
2. Of the 450 million shares outstanding, insiders/5 percent holders/ and Institutions all combined own less then 100 million of those shares. The remainder are held by the public retail investor like you or I. And of that 100 million shares, the bulk of them are held 2 Directors, the fritz brothers.
3. The book value per share is .01
3. The ROE is negative -200
4. The operating margin is negative -300 percent
All of these things which are factual DD lead to a weak company fundamentally, not a strong one as the enthusiastic posts seem to misrepresent. The bottom line is this stock is a big gamble, and thats why there is little interest from institutions as well as insiders.
A poster the other day challenged my statement about owning more shares then many of the officers, and said it wasnt a believable statement. I couldnt resppond because i had used my 3 posts, but I challenge all of you here to make a list of all the inside officers and directors, and next to their name list how many shares of common stock they own, and see how many you come up with that hold over 100,000 shares. I will start it for you by listing that according to NASDAQ.COM the CEO holds 1,500 shares???????Isnt that interesting when the CEO will only hold 1,500 shares of a .30 stock or $450.00 worth?????????
AI
