coba4444
Oct 3, 3:35 PM
$GALT How can this continued dilution be healthy for any current stockholder? From cloud AI: But here is the part I would focus on as an investor
The company states:
"We do not have any present plan, arrangement or understanding to designate and issue any of the shares..."
That means:
No announced partnership.
No disclosed deal.
No identified buyer. -No announced financing.
at least according to the proxy. My interpretation
The filing reads more like:
Uihlein converted debt into stock, consuming a lot of authorized shares.
Management wants enough shares for employee equity plans, warrants, acquisitions, an other corporate uses. turn6search41
The proxy does not read to me as "we have a partnership and need shares for it."
it reads as "we need a larger share pool because the company may need financing and/or a strategic partner in the future.
One bullish item I noticed is that converted over
$105 million of debt into equity rather than demanding repayment, highly dilutive to existing shareholders.
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