93% of the A/S is issued and outstanding. That leaves a mere 7% --or 406 million shares-- left to issue.
Josh Alper proposes to acquire another 26% of Cann10-NA in order to have 51% control. Yet those remaining 406m shares are only worth $204k as of today.
Does anyone actually believe the guys in Israel are going to trade that remaining 26% to Josh for $204k when he paid $750 million (700m shares) on 12/31/17 for the first 25%?
I personally don't see this "share exchange/merger" happening unless Alper pulls off a huge win that makes the pps worth a LOT more --or-- unless current shareholders are destroyed via a reverse merger followed by wholesale dumping which drives shares back down to .0001. The effect would be a loss in value far greater than .0001 because the decline would be from a price re-calibrated much higer by the R/S. Once current shareholders are wiped out he can start over with a new A/S and relatively few obligations to current investors. Of course a R/S would affect management and Cann10. However I wouldn't be surprised to learn those shares weren't as restricted as people were led to believe. After all, someone keeps dumping big blocks day after day for months now.
Not to say this is sure to happen but I've seen it done many times before. Wash, rinse, repeat.
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