It's not guaranteed, it's part of the strategy to uplist but the insiders hold millions of shares and if we get to the uplist price and hold, I think it would be hard for them to want to do it. Either way, it wouldn't be until September, it would be announced and then they would have to put the paperwork through FINRA, which would take awhile before it is approved. It's not as scary as people have made it sound. $vyst
I am organizing an edited valuation post for VYST that I think will answer those questions that you have asked. After reading it, please let me know if I had not addressed those questions that you have asked.
Any Preferred Stock issued to the Rotmans in order to complete the pending Rotmans acquisition is definitely going to be considered "affiliate" stock and definitely required to be held through its vesting period k Geegee...and as such, is definitely governed by the SEC's strict guidelines that govern all affiliate stock on all PubCo's even after the vesting period has passed.
Meaning no affiliate insider can simply sell their insider/affiliate shares without strictly adhering to the SEC's clearly defined rules. For starters, insider/affiliates who do elect to ever eventually sell any of their affiliate stock after the pre-requisite vesting/holding period, must 1st file a notification of their intention to sell ahead of time...and even then, they're only allowed to sell a paltry 1% of the Outstanding Shares in play at that time over the entire course of any rolling 90 day period.
Furthermore, share repurchase programs by their very nature are designed to reduce the amount of Outstanding Shares in play, so PubCo's can't "suck & blow" at the same time so to speak...meaning they can't be diluting shares out the back door while simultaneously buying back shares off the open market.
So any Preferred Shares issued in the pending Rotmans Super 8k are definitely going into ROCK SOLID hands, and are the least of our concerns here!
And finally, just to briefly touch on your reverse split question ok. Way back in November when the "potential" reverse split ratio was even put in the subsequent events section, VYST's mgmt. team, their directors and insiders didn't even know yet how much of Rotmans VYST was even going to acquire, hence the reason they specifically provided a 58% to 100% ratio when contemplating what percentage of Rotmans VYST would acquire.
But over the holidays into end of year mgmt., their directors and insiders all came to the agreement that VYST would acquire 100% of Rotmans...which means VYST will soon get the extreme official benefit of having Rotmans entire asset base and beyond well established $35M per annum revenue run rate inserted onto VYST's now pristine balance sheet! And by VYST acquiring 100% of Rotmans it definitely provides VYST with a legitimate and verifiable fully audited DOLLARLAND valuation...whereas if the percentage of the Rotmans acquisition was lower, the valuation would clearly not be as strong as you don't need me to tell you.
Which leads me to my final point as follows: Now that the Rotmans, the VYST directors and insiders all came to the agreement for VYST to acquire 100% of Rotmans and we're on the verge of PCAOB registered fully audited Rotmans financials being rolled onto VYST's now pristine balance sheet...the potential reverse split ratios provided way back in the November fins are no longer required to attain/achieve a DOLLARLAND valuation and therefore meet/exceed the Nasdaq's minimum asset base and per annum revenue rate threshold requirements.
And here's an email Greg Rotman himself sent to a shareholder about a month ago which discusses the reasons behind why they initially provided the "potential" reverse split ratios in their last quarterly fins prior to it eventually being decided that VYST would now be acquiring 100% of Rotmans k cheers>>>
Insiders have over $1.5M in common stock, of which upwards of $100k has been purchased in the open market at prices at high at .044
One would think that if a split was going to happen that would wipe out common holders that directors and insiders would not be using their own money to purchase shares.
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