Aston Bay Holdings Ltd V.BAY

Effective Interest of 100% Means NO Partner

[schocor]

AW1 is the partner. They spend somewhere between 5-9.9M last year at Storm and they have to spend $10M to earm 80% intrest. Leaving Aston with 20% EFFECTIVE interest at Storm. 

If AW1 spends the money, they own 80%. 

If AW1 does NOT spend the money, ASton has 100% interest of Storm, but no partner. 

You can all choose your own adventure here, just dont listen to Goldy.

[schocor]

ONe other point - AW1 has 9 more seasons to spend this money to earn their 80% interest.  This means they can choose to NOT spend the money this year, next year etc. What this does is effectively FREEZE the project from further exploration UNTIL AW1 gives up its project entirely OR spends the remaining money.  THe issue here is Aston does tno control their own destiny at their ONE

[schocor]

This shocker guy is a real good poster. 

[schocor]

He makes ALOt os sense adn seems to be wise to the pumpers on here. I like reading his posts. 

[schocor]

UP to the TOP.

[schocor]

So how does this work? AW1 says they haev an 80% interest; GOldy says ASton has a 100% interest.  180% interest in a project? CUrious 

[schocor]

yup