Replies to post #33554 on Plandai Biotechnology Inc (PLPL)

[Due Diligence Virtuoso]

I think that Tad sold the company. The Float/OS was maxed to 9B area each. That give very little head room with AS since it is only 11B. So they would have had essentially 3B shares plus Preferred voting control to get a deal done. It does not seem plausible to me.. So my theory is the AS and OS were raised to accommodate a buyer. That buyer would now control and own 80% of the new OS. This new buyer probably wouldn't want to RS there 80% holding unless they felt the new merging company had enough value to support that.. So this deal avoids a RS.

So Tad receives cash for the shell in return for voting rights and the newly formed commons which is roughly 80% of the OS..

That is my running theory.. Would love to hear other thoughts.

[bri123]

I agree. He must have some plan in mind, but I have no real idea of what that is. With the OS so high now, the shares are nearly worthless, which is why I suspect he is getting ready for an RS. Hopefully he puts out some news before that so we get a little pop in the price up to $0.001 so I can sell before the reverse, and then re-buy after the price stabilizes.