The Denial & Delusion Is Just Pathetic!Legend7 & Victor2009:
Your denial and delusion is just pathetic. Defamation occurs when you are not speaking the truth. You consciously choose to ignore issues facing LBE to resort to childish personal attacks -- a clear indication that you are desperately trying to deflect attention from the LBE truth in engaging in baseless personal attacks that are DEFAMATORY! The hard LBE truth:
_ i. The "preferred" shares option held by JJ could dilute the existing shareholders to 23.7% of their original
_ investment. This would take the existing 186M shares to 372M shares! This is a real risk and a harsh
_ reality! LBE minority shareholders should move to have this clause eliminated for a modest increase in
_ credit terms. The credit terms already in place should have had this clause removed but their
_ "conflict of interest" in terms of attaining the best credit terms for LBE versus highest profits for JJ seems
_ to be evident here regarding the stability of short term future earnings and profits of LBE.
_ ii. There needs to be separation of JJ as a majority shareholder and JJ as the primary creditor! They are
_ wearing two hats which amounts to a conflict of interest. Any future "credit" arrangements should be
_ conducted at arms length to ensure that they are not just filling JJ's pockets with profits from predatory
_ credit terms, but that future terms are established according to risk. A "bidding" process for future credit
_ would ensure that this process is impartial and takes into account the rights of LBE minority shareholders.
_ iii. LBE has reserves for some 4.5 years going forward and then what? The market is certainly not impressed
_ by this and nor are JJ. If they were they would have exercised the "preferred" shares. So where does
_ this situation leave minority LBE shareholders -- always second in line to JJ! Yes, we have all heard the
_ hollow promises. But if that is true, and they want to give that statement credibility, JJ should dismiss
_ the conversion of the "preferred" shares to "common" that would eliminate the mega-dilution of minority
_ LBE shareholders.
It is sad to say that I put the effort forth to expose the truth regarding LBE only to be the victim of personal defamatory postings. Why not stay within the realm of discussion and truth, but the truth hurts, doesn't it Victor2009! Those who cannot deal with reality resort to personal mud slinging. Many individuals have tried to get this point across to become victim to the same assaults from the same people for trying to reveal the truth -- pathetic! Legend7, I never said LBE would go to $2, given the magnitude of the dilution in place, and the relatively small return, this is just a joke!. For LBE to generate $1 of net profit for each shareholder prior to the possible dilution associated with the "preferred" shares LBE would need to generate $250M in gross profit. Please, show me the numbers, make be believe, because my math just doesn't see it. With the limited reserves, the debt, the dilution, the operating expenses, future exploration costs, JJ's controlling interest & credit terms, and the taxes -- how? And remember, this number would e $500M if the "preferred" shares were exercised. Are you just lost in the numbers or have you not looked at the numbers? Show me the way!