GREY:MWSWF - Post by User
Post by
aweighon Jan 30, 2015 10:10am
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Post# 23381483
Pinky was suggesting a disguise bankruptcy so that Galena
Pinky was suggesting a disguise bankruptcy so that Galena could steal the assets aweigh from the common shareholder but in doing that they would sacrifice the $ 5 Mill they put in via the PP. The Co. now has that $ 5 Mill plus another $ 15 Mill they borrowed from Galena so declaring bankruptcy anytime soon wouldn't be easy and bankruptcies and the allocation of assets needs to be handled by a Receiver and approved by a Judge and that won't happen unless things get really really bad over a long period of time.
By far the easiest and cleanest weigh for Galena to profit from this is to buy out the common shareholders as early as possible and they are very obviously setting the stage to do that soon.