Glad to comment on the 1.1 billion shares David took out of Univec.
Before 5/9/2021 David owned about 5% or 6% of the stock of Univec. He owned(s) 100% of his private companies. If he merged with 5% ownership he looses 95% of his net worth before the ink dries and would not have controlling interest. So he forgave a debt of $11,000 for the 1.1 B shares. Also on 9-12-2022 he forgave $750,000 of deferred salary for 183,173,158 more shares, now owning a little over 55% of the stock. I welcomed the 1.1B shares as he then had a lot of "skin in the deal". I also felt really good about the 183M more because that tells me he felt he created or going to create more value in his private companies and needed more ownership of Univec. Also, we all need to realize he could have taken a lot more than 183M shares but he did not want any more outstanding shares than he felt he needed. Again, that tells me he is shooting straight with us and he has never sold any shares either.
Now, David owns a little over 55% of the stock yet he owns 100% of his private companies and that tells me, IMO, he thinks his companies will be worth more publicly traded than privately held. Not necessarily upon the merger but acceptable to him. He also gets liquidity and estate benefits. If he is willing to do that, I am sure willing to hold on to my stock.
Also being publicly traded he can do a "secondary stock offering" thru an underwriter, raising capital for Univec and giving him unlimited liquidity because his liquidity is "by prospectus" during the secondary stock offering. Let me make this clear, if he did a secondary stock offering it would be later, NOT upon the merger we are all waiting for.
I hope this helps everyone to keep things in perspective.
Before 5/9/2021 David owned about 5% or 6% of the stock of Univec. He owned(s) 100% of his private companies. If he merged with 5% ownership he looses 95% of his net worth before the ink dries and would not have controlling interest. So he forgave a debt of $11,000 for the 1.1 B shares. Also on 9-12-2022 he forgave $750,000 of deferred salary for 183,173,158 more shares, now owning a little over 55% of the stock. I welcomed the 1.1B shares as he then had a lot of "skin in the deal". I also felt really good about the 183M more because that tells me he felt he created or going to create more value in his private companies and needed more ownership of Univec. Also, we all need to realize he could have taken a lot more than 183M shares but he did not want any more outstanding shares than he felt he needed. Again, that tells me he is shooting straight with us and he has never sold any shares either.
Now, David owns a little over 55% of the stock yet he owns 100% of his private companies and that tells me, IMO, he thinks his companies will be worth more publicly traded than privately held. Not necessarily upon the merger but acceptable to him. He also gets liquidity and estate benefits. If he is willing to do that, I am sure willing to hold on to my stock.
Also being publicly traded he can do a "secondary stock offering" thru an underwriter, raising capital for Univec and giving him unlimited liquidity because his liquidity is "by prospectus" during the secondary stock offering. Let me make this clear, if he did a secondary stock offering it would be later, NOT upon the merger we are all waiting for.
I hope this helps everyone to keep things in perspective.
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