Sysx is getting ostendo's shares from the deal. Not the other way around. Ostendo is a private company i believe. Since they are purchasing Sysx assets with shares, i dont believe they will have the funding to buy Sysx shares to gain from the deal.
Sysx will gain an investment into Ostendo and offloading assets with operational cost. The value will just be operational cost to Sysx and future dividend/value that Ostendo will bring. With crypto down, Sysx is realigning their business and investment.
Some keep bringing up the proxy vote as a deterrent. Sysx has QB status not a regular pink companies and insiders have shares. I dont think it will hurt the company. i think they are taking out small retail investors like us and trying to get bigger fund investor in.
1. June 3rd - Pending lawsuit with deb tholder 2. July 25th - Pending A/S increase (if voted through) 3. July 25th - Pending R/S 500 to 1000:1 (if voted through) 4. July 31st - new deal deadline. Deal delayed twice, so the risk that it wont go through exists.
Lets count positives:
1. Massive stake in Ostendo *IF* deal goes through. 2. Big value investor is holding $4M worth of debt notes (prior to AS/RS news and prior to lawsuit). 3. Currently maxed out SS with only $19M MC.
A mixed bag to say the least. Did i miss anything?
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