Millright, Reality Check!Millright,
Your pumping of this pig is seen for what it is by many, including the markets. If you dare state the truth regarding LBE on this BB you are viciously attacked by the "pumpers" and accused of being a "basher". If you don't agree with the "pumpers" you are a "basher". How sad! Unlike you, I don't sit on this BB, day in and day out. I have a life. However, I check around every couple of days and respond if I believe that it is worth responding to. Nickel77 words were an outright lie! He was called on it and you get on your soap box and start the slew of meaningless opinions and innuendos. The fact is Millright, maybe you can take Nickel77's place and convince Dr. Nash to get rid of those"predatory" terms outlined in the last set of LBE Financial Statements. The minority shareholders are on the ropes as they will always take a second position to the Chinese. The majority interest that JJ has in this POS will always ensure that minority shareholders are not only the minority, but that they are a SILENT minority. JJ, being both a creditor and a majority shareholder, is, in my opinion, a conflict of interest. However, given that LBE has already gone through the equivalent of bankruptcy with the current management team, and that the major interest are controlled by JJ, it is doubtful that they could get decent credit terms. Lastly, LBE going on "care and maintenance" in the event of a double dip (and there are strong indicators to suggest there will be one) would cause their debt to balloon at a rate in excess of $175,000 per month (could be >$200,000, I just estimated low) for just servicing the preferred shares and their debt. Any what do the shareholders get out of this pig in 5years? Nickel is gone, JJ got generously compensated for their credit terms, and the minority shareholders (the last in the chain) get screwed. This company, assuming that they do not convert the preferred shares, would have to make $186,000,000 in net profit, which would be approximately $250,000,000 in gross profit, for each minority shareholder to see $1. That is the impact of dilution before the preferred shares are converted. If they are converted then these numbers are DOUBLED! Never going to happen buddy! The more likely scenario to play out is that LBE, and its shareholders, get dinged each and every time Dr. Nash falls off the tightrope that he MUST now walk.Every misstep results in delays, consumed resources, and a ticking credit clock that never stops, and a company that will end up being moose pasture when JJ ring every economic pound of nickel out of the LBE properties. Remember that the Chinese have full control over how profits are either spent or distributed because your minority shareholders are SILENT due to JJ's 51% controlling interest. The risk versus the possible reward on this POS is why this stock is sitting where it is -- there is very little opportunity here!