GREY:FEVCF - Post by User
Post by
mkr58on Jun 19, 2008 5:21pm
302 Views
Post# 15206360
What the hell???
What the hell???
My math comes out to a pretty SWEET deal......The loan will become due and payable on July 15, 2008 with interest calculated at 16% per annum and payable on the due date + the Director gets 70,175 bonus shares based on a cost of $0.1425 per share.
Bank rate is 4.75%, lets say they can borrow at 9.5%, 16% on his 50K is a good deal but amounts to nothing really......BUT the 20.5% on his money for the shares for a loan of 28 days or so is rediculous.......by the way he has already made another $3900 with the stock at .20 cents!......
Sounds like a nice way of giving someone 70,000 shares for nothin.....