By my math if all $5M of MJ Link shares convert to WDLF shares at the current price of .0006 that is 8.3 BILLION SHARES on top of the current 7B plus outstanding shares. The value of the MJ Link shares that will convert has a larger market cap of WDLF as a whole today based on this assumption. Yeah I’d say that would represent some dilution of the WDLF stock.
Here is a theory. I wonder if they went the route they did with rolling MJLink under WDLF because they were getting pressure from investors who could not get their money out from that $5M MJLink offering they did. Maybe this is a legal way for WDLF to allow people to trade their MJLink shares which would then satisfy their ability to get their money back. Because we know they don’t have the cash. They showed $31K cash on hand in the 6/30 10Q. My assumption is that cash has been carrying them operationally since they did the MJLink offering.
This may also lend some insight into why the original LOI with Indoor Harvest did not work out. The new JV keeps that financial liability in the WDLF camp. Leslie likely did not want to take on that liability. All in my opinion and assumptions based on what I see.
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