RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Private Sale of Primo SharesThanks Joel D. I don't have your email address. Maybe you could send me a message here so that we can connect.
How much is the deemed value per share of Marianna? Is it $0.20 (the share price in your going public financing)? If that is the case, the 10M shares will have a value of $2M.
I am not sure that Primo can dividend essentially all of assets to its shareholders and then deprive its creditors of the assets. This dividend could be an issue for the board of Primo. On top of that, I believe that Primo is insolvent and they can't approve a dividend in that situation. Keep in mind Primo is also involved in a lawsuit in Washington State where Primo is being sued for a lot of money and the dividend is away for Primo to distribute the assets to its shareholders to the detriment of the creditors and the plaintiffs in the Washington lawsuit. That is just my two cents. Of course, I don't know for sure if they are insolvent as I am not privy to their current financial statements and affairs but it appears to me they are insolvent and this dividend is a major legal issue that shold be looked at.