That’s what it looks like, dots connected from different coloring books, the “1” dot being completely bogus, to paint a picture.
The merger between the Mexican recycling business and CTLE looks like standard stinky pink stuff, too. The CEO has common shares from a previous venture between the companies for “services,” over 3B. The other owners of the Mexican recycling business took controlling preferred shares. The remaining ownership equity, around 45%, went to the bagholders. And, of course, all the convertible debt remained with the shell.
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