GREY:FASDF - Post by User
Post by
rugulator1on Jan 12, 2016 12:51am
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Post# 24448761
Convertibles - 9.2 mil Value?? WERE they converted yet?
Convertibles - 9.2 mil Value?? WERE they converted yet?priceIsRight - The Convertible Units will be convertible into common shares of DraftTeam ("DraftTeam Shares") and, following completion of the Transaction, the former members of Fantasy Aces will hold Convertible Units, exercisable at any time at the option of the holder, into an aggregate of 57,539,453 DraftTeam Shares at a deemed price of $0.16 per DraftTeam Share for aggregate deemed consideration of $9,206,313, which will represent approximately 57.5% of the post-merger outstanding DraftTeam Shares.
Did the former members convert their shares already? Shouldnt the conversion be reported?
Price, never said anything about fraud, but I'd say this deal combined with the market action would be a good one for the OSC-BCSC to look into considering the stock has been sewered from 15c down to 3c without any relief rally.
Fantasy Aces financials that were submitted to sedar to complete this deal, werent audited nor was there a Cash flow statement. Pretty shotty reporting.
I am suspicious of the guys running this company. There has been alot of paper dumped into the market since the deal was completed. Other shareholders should be concerned too.
Were the shares converted by former Fantasy stock holders?