trader59
2 months ago
I’m telling you the company didn’t deceive anybody. You listened to a bunch of pumpers on the internet telling you to buy this stock and you’d get an easy 10 bagger from a SPAC. It was just another narrative those con artists tell so they can flip the stock for a profit. Then, when it’s all done, they shift the blame onto someone else, usually the company, claiming they’re the ones that lied and that they’re victims, too. They’re not victims, the pumpers made the whole thing up.
You didn’t buy LEAS stock from the company or its CEO, you bought on the OTC from another shareholder. The company didn’t get any of the money from the trading of LEAS stock during the pump and run-up to the SPAC merger, that all went trader to trader. The people that have your money are the ones who sold you the stock and sold you on the story you were going to get rich from buying it.
Seriously, if you bought into that crap and especially if you invested serious money in it, you need to pull whatever you have left in the market out and put it in some nice CD’s paying over 5% risk free. If you don’t, you’re very liable to lose all of it.
trader59
3 months ago
This was just another pump and dump. Who in their right mind would think they'd found a stinky pink stock that could be bought for way less than a penny for over a year was going to be exchanged for SPAC stock with an exchange that was equivalent to nearly 6 cents per LEAS share? Anybody falling for that crap needs to pull all their money out of the market, especially the OTC, because they'll fall for anything and will eventually lose all of it. Put it in some nice, risk free CD's.
Neither company ever said there was going to be a 175 to 1 exchange ever, and in fact ANEW said from the point they merged into LEAS they were going to RS the stock at 1-2500, then apply a 100:1 conversion to the 400K shares of preferred stock given to the investors of ANEW. They even revised the corporate charter to include it. Every report they issued said that until the business combination was getting close and the CEO realized he didn't have to make it effective, he could just do the math and distribute the WENA shares as if it had. He didn't mislead anyone, a bunch of pumpers pushed that fairy tale of a sure thing 10-20 bagger and dumped into it. Those are the folks who have all the money invested in this, nobody bought stock from LEAS, they bought it from someone else who was selling.
If it's any consolation, the company is likely screwed. Most all the retail shareholders who'd invested in RWOD before this business combination was announced walked and took their over $10 per share with them. Cash in the treasury was nothing, and the ANEW shareholders got about $12M worth of stock instead of $60, but only becauses they can't sell any of it yet. The company has already sold another 1M shares, and that won't even scratch the surface of any sort of drug they want to develop, test, and sell. This will be just another NASDAQ biotech that won't go anywhere.
Seanws34
3 months ago
reposting this from stocktwits
"We have initiated a class action lawsuit against Anew Medical for destroying LEAS shareholder value through Misleading statements in filings, failure of fiduciary duties, and insider trading through the CEO sharing material non public information (MNPI) to private individuals. THIS WILL COST YOU NO LEGAL FEES. For those of you affected who still held LEAS shares anytime between April 17 - June 21, 2024 and lost money - please join our case. Please input the amount of your total investment (not the price when it was highest in the market) and whatever description you can add. It will take time to collect everyone who participates before lawyers take this to the next step, so be prepared to be patient - these things take time. However, our goal is to get our money back and then some for additional time and opportunity cost damages. "
11thestate.com/cases/1269
trader59
3 months ago
They'd be worth $2.34 (RWOD PPS) times 0.00004 or $0.0000936.
Keep in mind, most all of the RWOD retail holders redeemed their stock, resulting in hardly any cash for ANEW to make any progress. They just announced they sold some stock, and the 6M shares awarded to the ANEW shareholders are all dilution to the $2.34 shares. NASDAQ investors aren't OTC investors, they don't buy fluffy hype about a company, they look at the bottom line.