I just spoke to Joel.
He said
1. The current NASDAQ listing will remain in place, (I was a little confused in my reading of the announcement, thinking a new listing was going to be required). The Delaware holding company was registered just last week. It will hold all Incannex assets including the current/ future NASDAQ holdings.
Incannex Pty Ltd will be the holding company for Australian Research efforts and remain to reap the benefits of ATO research incentives
2. The Rollover provisions will be applied for Tax purposes and no shareholder will be any worse off from ATO obligations.
CGT only applies when you sell .... no change if you don't sell.
3. I put some hard questions to Joel in terms of Big Pharma etc he couldn't answer any of my assertions but did make it clear that Bob was employed for his Regulatory experience and has had fantastic input in that regard to date and was specific that Bob was not employed for any Capital Markets input, but did agree that Bob was also part of the unanimous vote by Directors for this move today.
4. I put it to him that maybe some announcements may be held back and delayed to get the benefit of the NASDAQ exposure, he refuted this and said all upcoming FDA IND news, etc will flow as normal. Nothing will be held back.
I put it to him that this Scheme maybe be best put in place and effective to capture and capitalize on some Phase 2/3 Pivitol Trials results from USA Trial locations and he agreed.
Good luck all holders
