RE:RE:GLH and Terra I do not think the conversion price changes Syl. I went through this with Nuuvera / Aphria nd once in the gold sector. Because the deal affects the share price, it cannot be adjusted.
Say TRTC goes down to 1 buck, as the result of this merger. GLH wouldn't get to gain from that and vice versa.
Glad your happy, It beats a 15-1 swap, like TRTC did back in the spring. That never seems to work out well for the longs. The Seeking Alpha stories of corruption are quite disturbing. If even 10% of their article(s) are accurate, one must question William's motivation to get into bed with TRTC. You cannot discount the fact TRTC paid FIFTYONE million bucks for Blum....OUCH !!!
holy crow
syl3993 wrote: Once the deal is finalized whatever amount of shares you have will become TRTC shares in whatever account you hold them in now. The ticker symbol GLH will be no more. The conversion rate in the deal is .1203 shares of TRTC for every share you have of GLH. So lets say you have 50,000 shares of GLH right now after the deal you will have 50,000 X .1203 = 6,015shares of TRTC
50,000 X .20 = $10,000 GLH today
6,015 X 1.68 = $10,105 TRTC today
So as they said in the press release this is not a buy out of a company where one company would pay a premium to purchase another company. This is a merge of two companies joining forces to form a larger company better positioned to move forward in this market. Derek Peterson will be the CEO and William Simpson will be the president of the newly formed company.
New market cap for TRTC should be approx $257,000,000 with approx 152,976,190 shares outstanding. With GLH showing $5.1M in revs for the 3rd Q 2018 and TRTC to report after the close today I would say the newly formed company will be in a very healthy position.
One more thing, people here have been saying that GLH share price will be surpressed so that TRTC can buy them for a lower price. That is total BS. Again this is not a buyout, this is a merge of two companies. The .1203 conversion rate is set at that because that is the # that equates the two share prices. If GLH share price shoots up to say $.40 before the deal is finalized then the conversion rate would have to be adjusted to reflect an equal amount of shares issued to dollar value to what you own now.
Hope all this helps.
Do your own DD before you buy any company, I did and then I bought GLH in a big way. Full disclosure I am long GLH.