RE:Raza Bokhari 40,000,000 option at .74He exercised them on Sept 11th. He didn't report it until Oct 1st.
Bella923 wrote:
Something is just not adding up here. Dr Raza Bokhari exercised all his 40 million shares today at .74 so both condition of this option should have been met by way of merger or buy out with a listed Nasdaq exchange company. We know that based on current stock price, they wouldn't obtain the listing. What I'm not understanding I'd why Dr Bokhari would exercise all 40 million shares when the SP is under the exercise price? Why not Evercore them when the SP is well above the exercise price of .74? Maybe I'm missing something in the new announcement regarding his stock options. The only logically explanation I have is a buyout where the price has already been determined which is obviously at a premium above the .74 price. With buyouts, the price is basically fixed so there would be no need to wait for a higher price. With the structure of HUGE, the voting class A shares are all held by the insider so approval from the board would be easy for the buyout. You can see that there was 1,120,000 voting shares class A added to Dr Bokhari. If it was a merger, I can't see him excercising as there is no guarantee the SP will be above .74. You also have the largest share holder, Anthony Durkacz exercising warrants with approx 75 million shares added. I'm assuming he is loading up on shares for the buyout? Any thoughts? Below is the link to the insider activity. https://ceo.ca/api/sedi/?symbol=Huge&amount=&transaction=&insider=