churak -- that's my point. i dont think there are 200M post-split. i think it's more likely there were 200M PRE-SPLIT.
i suggested such because, as you pointed out, it would mean that over 199M shares were issued to Rockbands.
that wouldnt make any sense. that would mean that Rockbands found a way to grab 99.5% control of the post-split shares. that it unusually high .. especially considering that it's probably not written in stone yet how many post-split shares will need to be allocated for roundups.
why would Rockbands need to do this? find some cash.. give it to the DTIC shell owner upfront.. maybe a little after the deal closes.. and just take everything deliverable upfront. with a shell, they could have probably gotten 85-95% of the free-trading and not need to give DTIC any carried interest after the deal. that would protect Rockbands from the impact of the DTIC holders selling into the new market. a lot of shell owners would rather just take cash unless a deal is extrordinary. it also depends on their financial condition. if the DTIC shell owners held this a while, they might as well have just wanted cash immediately (which is what i hope!)
let's hope the company clarifies the post-split outstanding ASAP. after a 1,000 reverse.. even with a change of control.. you should have a fairly tight share structure.
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