Replies to post #189105 on Enzolytics Inc (ENZC)

[Dyno89]

And FAR less of the shares. Like I said, if this was 1:1 ratio being given out (or close to it) for the SAGA shares it would be a different story. All the benefits you are arguing are erased and then some by the amount of shares you are losing in ENZC vs how many you are being given in SAGA. And the big thing many aren’t figuring in as well is that most have LONG 12+ month ENZC shares and your SAGA shares will be short term. Not only that but likely a lock up period where you can’t sell.

[Dyno89]

Maga, maybe you can also step in here since we both carry similar feelings about this deal, bc I feel like you explained this in the past better than I am.

[Dyno89]

Btw, I’ve watched and traded a small biotech that’s on the Nasdaq already and was trading above $10 just a year ago. It’s a super low float and they have a far better share structure than what SAGA will have after this spac deal is done. They also have a product through 2 stages of clinical trials in Europe. Yea, legit EU clinicals, not some Africa nonsense. They also just announced an IND filing for their FDA US clinical trials. And guess what. They are currently trading under $1. Anyone that thinks SAGA is holding $10 per share post dividend payout when there’s no more make whole provision to protect the shareholders without having MAJOR news beyond what I’ve described above is kidding themselves. They’re going to need far more than clinical trials underway to hold that $10. And do you think they’re going to have that within the next 12 months? I can’t imagine how, unless the Regeneron thing is us and even that may not be as big as we hope it might be, should that even be our mabs. Based on the ENZC progress to this point, and the fact they couldn’t be further along even a year from now than an IND filing or early clinicals, I can’t imagine how SAGA will possibly hold $10 or anywhere near it.

[MAGA_PATRIOT]

bytheocean - I hear everything you're saying and can't speak for anyone else. Nor am I going to re-write multiple paragraphs again explaining why some of us feel this way (not trying to be rude, just beat today). Instead, I'll give you the short version I just gave to rockie.

Personally, my frustration comes from the fact that for 2.5-3 years he/Chandra led us all to believe that everything was going to happen under ENZC.

1. Conservative estimate of C3 earnings = $9.09B per year
2. Audit Completed
3. SEC Reporting
4. Institutional Investors & BP partners join the party
5. Uplist

Now the IP/Value that we've all been holding and waiting for it's full value to be realized, is going to be sold to a bottom of the barrel of SPAC (Can't even complete a 10Q or update as to why they can't complete it, but I guess that fits well with a company/CEO who hasn't been able to file a single Q or K on time without an extension) for a whopping $450M (Really just shares valued at $10-11). It seems to me that either bait & switch was pulled or something happened that forced Charles to do a complete 180 on everything we were led to believe for the past 2.5-3 years.

Anyway, we don't know what we don't know, but I'd really love to know what happened to Samsung? What happened to ENZO after he was given C3? Where is the audit? Where is SEC Reporting?

At this point, it is what it is, and like I've been saying, I'm just holding on and hoping for some kind of miracle and/or surprise. However, the fact that we're almost 11 months into 2023, still in pinks, still unaudited and alternative reporting, and sitting at a MC under $100M is sad and worrisome.