I was told there were 928 million shares o/s before the spit. Thus, 50:1 reverse would equate to 18,560,000 after. Add the 4 million due to the acquistion gives a total of 22,560,000 new o/s.
You have an appraised value acquisition of $9-12 million.
$12mil / 22,560,000 o/s = .53/sh value of the acquired property. Call me stupid but I think this is a bargain given where the stock of ARTS is trading.
Why would Luxor sell for less then fmv if they didn't think it would yield big returns in the long run? Afterall, the 4 million shares they received were assigned a value of $1 as opposed to the .065 market value of the ARTI (yesterday close .0013X50).
My clearing firm let me trade my shares with ARTS based upon the adjusted new shares even though my account doesnt currently reflect the new shares of ARTS. ARTI is still showing. Since they know ARTI is now ARTS there is no problem with trading the old ARTI as new ARTS
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