Do we understand what we are voting on ?I am not sure about the rest of you but I am confused on how this "new company" will work. So many questions unanswered in this LOI.
1. Are our shares being transferred to this new company 1 for 1 with the existing Replicel share ownership structure?
2. Andrew Schutte's new company purchases all Replicel assets (for nothing) and offers the share holders an 8% Royalty on all future profits up to a maximum of $160,922,238. So we are lead to believe somewhere in the distant future we will see some return on our investment. Meanwhile if I am not mistaken he retains all other profits (92%) Is that correct ?
3. The LOI is confusing because it also states the following:
"an 8-per-cent royalty on all gross profits earned by the purchaser in relation to the sale of DermaPrecise, RCH, RCT and RCS, or their improvements, after completion of the proposed transaction......."
Is Andrew once getting control of all the assets going to quickly sell them and give the shareholders an 8% Royalty ?
4. Who are the other shareholders in his new company ?
5. When do we receive the Computershare information package?
6. Does Andrew and his cronies actually think we are buying into this BS ?
7. Are there any other companies looking at this hostile takeover and thinking of placing a counter offer for the company ?