Pop, YA has beneficial ownership of 10% or 500 million shares and Barry Liben has 444 million shares; we know they will both vote YES on the RS and YES on authorized shares.
If only 2.0 billion votes are cast by retail investors, my expectation is that 90% or 1.8 billion of retail investors will vote NO on RS and perhaps 50% or 1.0 billion will vote YES on authorized shares.
Assuming that no Series C shares and no other YA friends vote, that would mean a victory for retail investors with 61% against the RS but the authorized shares would pass with 66% of the votes in favor. However, if the $519,000 of Series C not held by YA get to vote, they would be entitled to about 1.7 billion votes in favor of the RS, meaning that the RS proposal would pass with 61% of the votes cast.
That is what I refer to as a rigged vote when NEOM failed to disclose the impact of Series C voting in the proxy. That would be a violation of securities laws IMO.
We will see how this turns out but it is crucial for all shareholders to vote against the RS if there is any chance to thwart YA' chances of winning the RS vote.
Market Data 
Markets 
AI
