Does anything really need to be said about this??- Approximately 60 million shares for Zest at a nickel. Huge dilution in this transaction. It amounts to Almost 15 percent of current float.
- more shares also released to management (i believe is what I saw in that news release as well)
Question
Does "zest" come with some sort of cash balance on hand ? If so, then this transaction might not be so bad, if zest has no cash balance on hand that will be transferred to lifeist then shareholders will suffer and are being taken for a ride, as can be seen in today's stock price.
The only one that seems to be coming out ahead on this one, and that is only if lifeist can survive will be the now old owners of zest.....imagine if by some miracle this company hits 50 cents a share then zest just sold their new company for a cool 30 million dollars.
Out of curiosity, how many shares were doled out for LABS ??
Only time will tell if this was a good move or not.
GLTA out there!!