Yes, it's either that scenario or extreme incompetence on getting the funding, and Charles is trying to cover his @$$ now.
I fear the former too.
Question comes down to, if SAGA gets wiped away, as I think it will, and we have good PR's after that, what's the best play going to be? Will Charles try the same SPAC nonsense again, or go get some direct funding that does not require stupid subsidiaries, which is way out ahead of ENZC's skis in mid-flight?
Can't firm up one company operation, but plan for three, just to avoid paying out the promised share values.
MAGA !!!