The shareholder vote, tentatively scheduled for September 6th, 2022, is to extend the deadline to complete the business combination by one year from September 8, 2022 to September 8, 2023.
As many of you know, the SEC is trying to screw DWAC and TMTG by a phony investigation. As these investigations take time, the companies need more time to complete the business merger.
What does this mean: If the vote does not pass, the business merger will not pass and the shares will all be liquidated. This would be bad. We need this vote to pass.
Shareholders will get cards to vote by mail sometime in the next month. I recommend filling these out incase you cannot be present on September 6th during the live vote. Make sure your mailing address is up to date. Otherwise you can vote on September 6th at the shareholder meeting as long as you have your shareholder access code.
TLDR: Any shareholder of DWAC needs to vote in favor of extending the deadline for the business combination between DWAC and TMTG or else the deal is dead.
See here for full details: https://www.sec.gov/Archives/edgar/data/1849635/000119312522213753/d386906dpre14a.htm
This doesn't make a lot of sense, the SEC actions had to be expected from the beginning, so that can not be a valid excuse for postponing the merger.
There has to be another reason why Trump and his associates would seek to put it off, using that excuse could easily mean it is never intended to merge, because that excuse will always be valid, the phony investigation excuse that is.
I'm ahead on DWAC tho and didn't buy it for profits anyhow so I hope they do not try to delay and merge on schedule. Delaying just allows the profit takers to Game us more.
Do the Merger.
Of course they expected it. What's to say this was not a part of their expectations all along.
Regardless, the board says that they need more time or the merger WILL NOT HAPPEN. There are two choices: Extend the deadline, or dissolve the company. There is no "merge now" option. So as much as we all wish the merger could happen on time, that is not the case.
Sure they could merge on schedule, they are choosing not to do so.
But knowing where this is going it 'may' be time to sell, take profits then buy back in again when they tank the price leading up to this vote.
Many of us who hoped Truth would be more honest than the Gabs and Twitters are kinda bummed about the product anyhow, it datamines and forces people to turn off VPNs to enter, just isn't the free speech platform we hoped for.
Maybe this is a trial and they, Trump et al, want it dissolved? A clean break... 'We tried but the SEC got in the way, next time we'll be better because of what we learned'.
Sure they 'could' merge on schedule, someone just doesn't want to.
If it folds there will be lawsuits for sure, maybe 'that' is also part of the SEC thinking, let DWAC destroy itself.
Don’t you think Trump knew his followers would throw in their life savings into DWAC? You think the plan was to dissolve the merger and all investors lose money?
No, of course I do not think Trump thought his followers would bet the farm on DWAC, hells no.
And of course I don't think the plan was fraud, but maybe a trial run or pogey bait, a phishing expedition. People were given 'several' opportunities to make money with DWAC, that's why it did the up and downs so initial investors could cash out, recoup Capital and buy back in if they wanted to do so.
Maybe. That would also give Truth a chance to make mistakes, to learn how to be a social media company before rolling out the actual product.
People forget or didn't know but government created facebook, the Lifelog project, they tweaked it and made it the spying machine it is, disguised as a social toy. Congress made them quit doing that, they then gave it to Zuckerberg but kept the backdoors obviously.
Truth didn't have that support and nurturing, has to grow by itself, maybe it needed Beta testing. Truth made some mistakes and by now the investors have their money back, maybe that influences the desire to delay merging some too.