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Posted On: 10/02/2019 4:57:29 PM
Post# of 40991
Re: times2times2 #37265
I don't think it would be "giving up." I think he would execute the exact design he used the shell for; using shareholders.
Shareholders hold commons and have no stake in the actual company. Berman holds the preferred shares and the company. After he's milked whatever he can milk, he will move on. Nothing will really change from how it is right now, he will merely stop pumping because he cannot squeeze anymore juice. Shareholders will be left with the same worthless shares and empty words that have existed all along.
This idea that "we" own X amount of Cogosense is totally false. Common shareholders own NOTHING.
So why shouldn't he abandon the shell? Is it going to withstand an A/S increase? No. Can it withstand a billion+ in dilution that's waiting? No. So then what benefit is it to him anymore?
Shareholders hold commons and have no stake in the actual company. Berman holds the preferred shares and the company. After he's milked whatever he can milk, he will move on. Nothing will really change from how it is right now, he will merely stop pumping because he cannot squeeze anymore juice. Shareholders will be left with the same worthless shares and empty words that have existed all along.
This idea that "we" own X amount of Cogosense is totally false. Common shareholders own NOTHING.
So why shouldn't he abandon the shell? Is it going to withstand an A/S increase? No. Can it withstand a billion+ in dilution that's waiting? No. So then what benefit is it to him anymore?
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