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id: 1269

LEAS Shareholder Value Destroyed During Merger With RWOD

In May 2023, Anew Medical declared that their stock, OTC:LEAS, was being bought by NASDAQ:RWOD for 60 million dollars. The filings did not indicate a conversion structure, so many including myself believed that the merger would be favorable. I had accumulated 7 million shares of LEAS at an average of .0028 for roughly 20K USD. I had read many comments on that the CEO of Anew, Dr. Joseph Sinkule, was communicating to anyone who contacted him conversion rates that were not in any filings. I did not believe this, but decided to try writing to [email protected], who informed me that for every 25000 shares of LEAS, I would get only 1 share of the merged company. I searched all filings for this, but it was not there. The next day, April 18, shares of LEAS went into expert market and dropped from .0027 per share to .0001 per share immediately. They were effectively locked. On June 21, 2024, RWOD, the buyer, published an SEC filing confirming the conversion that the doctor stated to me privately.

I, as well as many others, have experienced damages due to information not available in public filings that led investors to believe that LEAS shares would increase in value. Additionally, Joseph Sinkule, CEO of Anew Meds had communicated Material Non Public Information (MNPI) to several investors that was not in any filing. This I understand to be illegal insider trading. There is another investor who he had informed would "do well" and to "hang on" in an email. As of today, each LEAS share after conversion is worth approximately .000066 per share, less than even original par value of .0001 - a destruction in value of nearly 97% due to misrepresentation in filings.
Case Status
Alleged Offence
Misleading Statements
Failure to Disclose
Insider Trading
Breach of Fiduciary duty
Suspected Party
Security Type
Trade Direction
Shock Event Date
21 June 2024
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Strategic Asset Leasing Inc

ANEW MEDICAL, INC. focuses on developing biologic medicines for the treatment of cancer, cardiovascular, and neurodegenerative disorders. The company is based in Omaha, Nebraska.

    Rental & Leasing Services
    13576 Walnut Street, Omaha, NE, United States, 68144