Advanced Explorations Inc. ADEXF

RE: RE: Forbes & Manhatten......

[rpdeluca]

Funny I was looking at the ADV board and found this post..Now before you read it, imagin if this is the next major iron ore mine in Canada with a so called deal locked and loaded and cash and the dream team in place and so on an so on, why would you ever sell out? Maybe there's a chance the deal won't close?  Nothing is guaranteed.. 

 

Bharti's perspective: he's got 2 million shares of ADV at a 15 cent cost basis (basically free). The stock has risen dramatically since inception in early 2010. If he can sell shares without dramatically damaging ADV's fortunes then he's going to. The Hebei deal put ADV on solid ground, so Bharti took the opportunity to cash out some serious gains. You would do the same thing.

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Also, the guy seems overstretched financially, buying 18 million estates in Hollywood, $10 million donations to universities, etc. The carry costs are remarkable for that kind of lifestyle