You are absolutley correct about the deal falling throught at the last minute. The investor got scared away due to the DD they did on the company before signing. All the negative posting on IHUB was a major contributor to the deal falling through....that is a fact. Scott & Reggie have been reduced to about 1/15th of what they had & they contributed a large portion of the 150M shares. There were a couple of deals on the table after the shutdown. 5 people including myself were in on a deal that fell through. We were going to purchase shares at a .01 per share to allow ExoBox to aquire 150K.....that is 150M shares that Scott, Reggie, Pernia & others were putting up as the last hail mary pass to stay alive. The 150K was going to keep ExoBox alive until funding which they had a very positive shot at getting. If they didn't none of us 5 would even think about doing it.
The director's decided to go the other route which was the O/G deal. Why sell your shares @ .01 when these O/G guys will give you .20 for them. The old mgmt. did what was best for the company & the shareholder's. None of us would be posting here now unless they didn't. They gave up a lot. Everyone is gone except for Studdard, and a lot of shares were given up. That was the deal & it was a take it or leave it deal, a demandmant if you will with hardly a whole lot of negotiation.
My hat is off to the old mgmt. team that sealed this deal. Especially, Scott, Reggie & Pernia...almost 70M shares a piece & then reduced to 1/15th, that had to sting. I know that the company was severely mismanaged & there were a lot of insider sales but in the end they did what was best for all the shareholders & the company.
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