Your Question: What do you think will happen here? Answer:I think EXTO will go away and become Summit City Grand Resort & Casino Holdings Corporation.
Your Question: How does Exit Only merge with a gaming company? Answer: From the PR: http://biz.yahoo.com/iw/081125/0455525.html …The consummation of this merger did not require a reverse of the existing shares. The merger was completed in a share swap between current management and Summit City Grand Resort & Casino Holdings Corporation. Shares were recently retired to enhance valuation in preparation for the merger completion. The current share structure will be updated on www.pinksheets.com in the near future.
Your Question: What are they offering to them? Answer:See above answer, but to add, the previous CEO is offering a chance for a potential multi-million and/or multi-billion dollar company to come into the existing company and offer more to their shareholders as an investment. The potential is very huge as I will show how sometime later in some future posts.
Your Question: What will this do to shares? Answer:Your shares will remain intact. There will not be a reverse split as what was mentioned in the PR.
Your Question: Will they have to buy out all the shares? Answer:They will not have to buyout all shares. Again, see answer to your second question. It’s a share swap and a merger without a reverse split taking place. The company is becoming Summit City Grand Resort & Casino Holdings Corporation and Exit Only will be going away in my opinion.
Your Question: Is this gaming company privately held or is it publicly traded? Answer:It was a private company, but now it is public as per the merger.
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