Charity caseLooks like mgt of CHOICE has been attending too many tea parties at the country club and participating in too many wine tasting events with their wives. So the do a $2million private placement and pledge to give 5% to a charity to boot. The guys they sell the $2million of stock can sell it, so all they end up with is a stupid tax writeoff as they reduce their profit by 5% of the $2million, that is, about $100,000 reduction in profits for the yr.
Go figure... I reckon somebody's wife just threatened to cut the old man off if he didn't do something for charity.