Post by
Newsy99 on Oct 02, 2013 9:40am
Questionable thinking - Sinking
Adair has not necessarily transferred anything out of his name.
A Code 90 denotes a "change in the nature of ownership" which is simply a change between (i) direct to (ii) indirect to (iii) control or direction. (i.e in any direction) .What should be important to investors is the net number of shares held, and the net cash paid into the company.
He will very likely have shares subject to lock up (4 months from the last two tranches), and shares which he has acquired which can be freely traded.
According to Bloomberg his current holding in the company is 4.8mm shares.
The value, no matter how you look at it is peanuts. (Given the wealth he has from other ventures)
If people believe that Adairs re*****tion is only worth the quick gain of 210k perhaps passing makes sense, until the company provides a better picture as to where they are heading
Comment by
MilesGeorge on Oct 02, 2013 1:45pm
Very good point, I am unsure as to what is going on here. My point maybe invalid, i have been burnt hard on Venture Exchange, it is very exciting though. MG