I will give the Co. an A+ for their ability to word things the way they do.
Ambiguity is one of their strongest points!!
If as much effort would have gone into proper sales and distribution of product during the height of Covid as does into the slippery verbiage they create a $5M revenue number could have happened.
Shareholders will receive shares in the spinoff. They will not have to pay for them. I might not have used the term "gifted" but the point is, they will be awarded to all PCTL shareholders as of the specified date.
And according to Merriam-Webster, gifted is a valid word to be used.
I have never heard of a spinoff done that required shareholders to purchase the shares they are already entitled to as a shareholder. Can you provide an example of such a strange corporate action? If it has happened before I would be interested to understand the basis behind such a claim...