Companies that have recently gone public via a reverse merger include: Richard Branson’s Virgin Galactic (SPCE), sports gambling company DraftKings(DKNG) and Lordstown electric truck rival Nikola (NKLA).
The statement saying no legitimate company uses this avenue to go public is clearly not accurate.
There is nothing fraudulent about it. They claim that they’re selling products from their website and Amazon page. By the time the Reg A is closed they will be selling products from them. That is the promise they are making. Major companies are going public via reverse merger now more than ever.
"INFORMATION CONTAINED IN THIS PRELIMINARY OFFERING CIRCULAR IS SUBJECT TO COMPLETION OR AMENDMENT. THESE SECURITIES MAY NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED BEFORE THE OFFERING STATEMENT FILED WITH THE COMMISSION IS QUALIFIED. THIS PRELIMINARY OFFERING CIRCULAR SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR MAY THERE BE ANY SALES OF THESE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL BEFORE REGISTRATION OR QUALIFICATION UNDER THE LAWS OF ANY SUCH STATE"
This isn't the final product as described above, this is a preliminary offer/prospectus and is subject to change...
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