OTCPK:JENGQ - Post by User
Comment by
pjn0987654321on Jul 08, 2020 5:03pm
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Post# 31241854
RE:Massive dilution, 1:33 share exchange,shares worth~10 cents
RE:Massive dilution, 1:33 share exchange,shares worth~10 cents I believe the 28.8% would be if you fully participate in the New Equity Subscription Opportunity. If you don't, then you are diluted more.
I didn't see where they said what happens if the Plan of Arrangement is voted down. Probably they can't meet their debt obligations as matters currently stand.
Is Rebecca MacDonald still going to be there? Or is she long gone? I haven't been following this company for a while.
HCI_STEEL wrote: Massive dilution 1:33 share exchange (our existing shares should have been valued at .71*33=$23.43, but new shares priced at 3.412. So we get ~15% of our value yesterday. Don't be fooled by their chart saying we are getting 28.8% of company post dilution.
Someone in mgmt should be going to jail for this swindle and loss of value.
All imo