MJAM2020, this is key....They have to believe they will make out much better selling their stock when the merger happens than to just sell the shell. Thats why I believe anything under $1 or heck even $2 is probably a steal; We shall see. Read this....
One item of interest in today's 8K was that Componus, Inc. only paid "up to $25,000 for reimbursement of its legal fees incurred as a result of the transactions contemplated." This payment is for 89,000,000 total shares or 87.25% of the total issued and outstanding common stock of the Company. Currently, OTCBB shells are selling for $500,000 - $700,000. Do the current shareholders think they will get a better return from the sale of their stock than selling the shell outright to Componus?
Here is the current ownership of JPCI before the reverse merger announcement:
Name (1) Number of shares (2) Percent Held -------- -------------------- ------------ John C. Canouse (3) 16,395,156 66.1% Joseph C. Canouse (4) 2,274,106 9.2% J.P. Carey Asset Mang 2,257,900 9.1% Jimmie N. Carter 80,000 (5) Cache Capital (USA) L.P. 36,292 (5) Janet L. Thompson 5,118 (5)
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