The S-4 in its simplest form says ANEW is worth 60 million dollars and will get paid 60 million dollars. The mistake most people are making is in assuming that the outstanding shares of LEAS equals the full ANEW company. That is not even remotely close to being true.
The reverse merger between ANEW and LEAS made it crystal clear that 99% of the value of the company was with ANEW and not LEAS. That is why the ANEW shareholders(including the CEO) got the promise of the RS and the preferred B shares. When converted, they would own 99% of the outstanding shares. Makes sense right?
The RS didn’t get approved so these former ANEW shareholders are stuck right now with 99% of ownership through the agreement but can’t get their shares out until the RS or some other equal arrangement can be made.
Now here comes the 60 million dollar valuation of THEIR company and they have a way to get paid. The agreement with RWOD is not divide 60 million dollars into the billion shares of LEAS. That would make zero sense. The 60 million dollars will be given out to Anew shareholders. Guess what? Preferred Bs are shareholders.
So that 60 million payout will go exactly to who it is supposed to go to. 99% of it will go the preferred B holders and the remaining 600k or so will get distributed to the current LEAS shareholder.
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