What is to stop Rotman from issuing himself $50 million in convertible preferred stock and $50 million in convertible debt notes for the acquisition?
Nothing.
lol.
But as I said...such conflicts are dismissed in the OTC.
On an Exchange traded stock this would not be an arms length transaction and would go to a shareholder vote...and it would be done by proxy, not a “written consent in lieu” or other form of insider controlled voting.
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