Exactly, he doesn’t have the shares. There’s only one note issued for 25M shares, but it’s restricted for a minimum of 6 months. I wouldn’t be interested in the stock if it was still subject to toxic dilution.
Logic tells me the founder wouldn’t step down unless a deal is finalized. After all, why announce that you’re no longer the owner unless there’s already a buyer and a completed merger/acquisition agreement? The statement quoted below indicates the company is actively pursuing opportunities aligned with its technology assets and has committed to updating the market as progress is made, which they already demonstrated by announcing the change in control. Now, we await further updates on the acquisition or merger. Tomorrow, I’ll be at the hospital for a full checkup, but I’ll check in if I have time.
We are diligently working on other opportunities and will provide updates to the market as we execute against our strategy to acquire and manage technology assets.