$EEGI Beside the 790k$ loan from Emerald Coast Investments, what other assets does EEGI has? They also seems to have 120k$ in investment, but it isn't disclosed what are these investments... Nevermind the 120k$ is also coming from the loan, I guess they invested the loan somewhere and are collecting interest on it. They have about 48k$ in cash that isn't coming from the loan from Emerald Coast Investments. So considering this, what would be the purpose of merging DKMR with EEGI?🤔 EEGI doesn't seem to have any property, equipments, patents, trademarks, intellectual property or other intangible assets, if they do, it isn't disclosed in their filings, so then why merge the two?
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@themarket100 To be honest, COVID definitely affected their sector of activity a LOT. The market just didn't care about their sector of activity, at all, they couldn't have fans in the arena or in some states they couldn't have fights, period.
@themarket100 Also to answer your question about the staying afloat thing. There is a chance that institutional investors approached DKMR or the other way around, but to satisfy, let's say 20m$ raise, they would have had to issue 400m shares at the current price. Maybe the investors thought it would then have too much shares outstanding, which I don't really agree with, but... I still think that 1:1000 is too much for nothing, a more reasonable 1:150-1:200 would have been more than enough, in my opinion. Now, after the reverse split, they will have about 120.6k and they will need to issue about 1m shares to be eligible for NASDAQ Uplisting. (The NASDAQ requirement is to have 1m shares float or more and Steve Smith held a significant portion of shares) At the price they will be after the R/S, that represents 50m$, which is not that crazy considering what they want to accomplish.