Valuestream
I understand your feelings. However, they may not want to issue a dividend until the merger is a certainty.
On the other hand, their wording sounds like they have already approved it, so maybe they will do it earlier.
The question is---what will it mean to the ILUS investor? They state the dividend will be from the 350,000 Series B stock
(which are convertible into 350 million common). Will they convert first and then issue the common? Will they issue the Series B straight out? Are there restrictions to converting the Series B? The PR stated:
In a further progress update, the ILUS Board has approved the payment of a SAML equity dividend to ILUS shareholders of record. A portion of its SAML Series B shares will be distributed to ILUS shareholders.
So not all of it will be distributed. And of amount distributed, what will be the dividend ratio??? Even after you get the shares (pre-merger), what further ratio will there be in the merger exchange? For example ONLY, let's say they declare a dividend of 10 SAML shares for every 1,000 ILUS shares, and assume one owns 1,000 shares of ILUS, you would get 10 SAML shares as a dividend. But then in the reverse merger, you may get 1 new share for every 10 shares of SAML. So after all is said and done, you will own one share of that Naz company.
Inquiring minds would like to know.
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