Replies to post #175282 on JB and ZJMY Holding Co (JBZY)

[FINWIZCAN]

It’s a share swap. No cash changes hands. It’s at the holder’s option. No approvals required.

The only reason they weren’t concerned yet, is they needed to crush the common count down to near zero. After R/S is approved, they will convert - no reason not to.

If R/S isn’t accepted, they will walk away from the shell, making it worthless. But rest assured they will dump all their shares if they do this and extract as much as they can.