RE: RE: Huttani, correction?=pg 11 of june 30 sedaOkay, Mr. Huttani, I found it and you are basically correct.
From a cut and paste:
As at June 30, 2009, the Company holds 10,250,000 common shares of EuroGas, which represents approximately 3% equity interest in EuroGas. The investment in EuroGas is accounted for as an available-for-sale investment which is subsequently measured at fair market value with changes in fair value recognized in accumulated other comprehensive income. During the six months ended June 30, 2009, the Company sold 1,750,000 shares for $100,000…
Where a slight correction is needed is from one of your previous posts when you wrote:
WHY DID THEY SELL ALMOST TWO MILLION SHARESOF EUROGAS AT LESS THAN 5 CENTS CANADIAN WHEN THE TREASURY HAD MONEY? TODAY IT IS WORTH 4 TIMES THAT.
1. They sold 1,750,000, 250,000 less.
2. The selling price was closer to .06 whether Canadian or US and was not less than 5 cents Canadian.
3. 4 times .06= .24. Price today is .16. Eug has not been close to .20 since Jan. 09.
These are picayune points but they do clarify things a bit more.
In consideration for an extension, EuroGas issued the Company an additional 2,000,000 shares. Of this REV sold 1,750,000 of the 2,000,000. It was found money and I assume the company wanted to add to the treasury.
It is hard to second-quess REV as we have not had any PR's to first guess.
If the money listed above is Canadian than it sold for slightly less than .06. (.055) If the money listed above is in US, it sold for slightly less than .06 (.05987) cents Cdn.
At the time of sale the price was in that vicinity.
Mr. Huttani, you are correct that they sold this amount. But your figures of less than .05 is off slightly.