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ATLANTA, Feb. 18, 2025 /PRNewswire/ -- Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") confirmed today that the company's common shares will not experience any dilution upon the closing of its recent acquisition of a $1 million company.
1. No Dilution Until 24 Months Later & Above $0.005 PPS
"We completed this no-cash acquisition by issuing to the seller preferred shares with a total face value of $500,000," explained Stephanie Anderl, interim CEO of VAYK. "These preferred shares are non-tradable. They can only be converted after 24 months or when our stocks are stably traded above $0.005 per share."
Even when those shares become eligible for conversion, the conversion will be conducted at a fixed price of $0.005 per share. Therefore, any shareholder who has purchased or will purchase VAYK stocks below the price of $0.005 will experience no dilution, and will instead enjoy a premium.
"Our common stocks closed at $0.0008 per share yesterday, which is 1/40 of these preferred shares' conversion price. In other words, the conversion price is 40 times higher than our current share price," said Anderl.
2. No Free-tradable Shares issued for Almost 3 Years
In fact, VAYK has not issued any free-tradable shares since May 2022, which is almost 3 years ago. The company has only delivered two issuances of restricted shares since then. These include approximately 43 million restricted shares issued at a price of $0.0073, which is 90 times higher than the current share price. The other issuance is 20 million restricted shares issued at a price of $0.0008, but those shares are not eligible for trading until July 2026.
Anderl emphasized that the company is committed to not issuing any free-tradable shares until its share price rebounds to a "reasonable level".
"We understand that people will have different opinions on what a reasonable level should be," said Anderl. "Let me put it in this way: we believe that it is unreasonable for a company to issue low-cost shares to flood the market, when there are still a substantial number of investors who have purchased our shares in the last 3 years are under water."
3. Insider Purchase of Over 11 Million Shares
Additionally, Anderl disclosed that a person who holds insider information has purchased more than 11 million shares on the open market since last November.
"The insider made those purchases because they believed there were no other channels to acquire our common shares at the current price level," elaborate Anderl. "As our disclosure has shown, the company has not issued any low-cost shares in the past three years and will definitely not issue any free-tradable shares at the current market level. Anyone who wants to own shares at the current market price level will have to buy from the open market."