(Total Views: 416)
Posted On: 02/02/2021 3:08:39 PM
Post# of 22467
As I interpret this excerpt from the wording of the 8-K, we have a new Majority Shareholder!
"Pasaca will purchase common stock of the Company (“Common Stock”) in an amount such that, after such purchase and the conversion of the Senior Note into the Note Shares, Pasaca will own fifty-one percent (51.0%) of the fully diluted common stock of the Company."
This appears to me to say that Pasaca will soon have a "controlling interest".
Therefore they could unilaterally sell the company,
Hypothetical question:
Could we all as minority shareholders in total be forced to participate in a buyout?
Could we retain our shares, or would we be forced to sell too?
Although a buyout would be very profitable in the short term, I am not sure I like the idea that future income streams could be seized by a new owner..
Comments?
S.A. John.
"Pasaca will purchase common stock of the Company (“Common Stock”) in an amount such that, after such purchase and the conversion of the Senior Note into the Note Shares, Pasaca will own fifty-one percent (51.0%) of the fully diluted common stock of the Company."
This appears to me to say that Pasaca will soon have a "controlling interest".
Therefore they could unilaterally sell the company,
Hypothetical question:
Could we all as minority shareholders in total be forced to participate in a buyout?
Could we retain our shares, or would we be forced to sell too?
Although a buyout would be very profitable in the short term, I am not sure I like the idea that future income streams could be seized by a new owner..
Comments?
S.A. John.
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