OTCQX:BGMZF - Post by User
Comment by
PruneFaceon Jan 02, 2015 11:10am
104 Views
Post# 23279630
RE:RE:]Protecting shareholders[
RE:RE:]Protecting shareholders[
He says the problem is debt and high interest rates. He says he wants to protect the shareholders. This is after announcing a bogus merger SGR/KER which was subsequently terminated. In the same breath he floats a $2.7 million loan at a whopping 14% interest rate. And that's not all folks. The loan is SECURED by ALL the company's assets, so these johnny-come-lately vultures can pick up the entire company for peanuts in the event of default, not that it's worth much more than that. How does that protect the shareholders? He talks of the previous SGR management disappearing into the night with gross severance packages. I wonder how much good old Greg will end up with once all the dust settles. He mentioned being involved in a couple of other companies with debt problems. I assume he means KER and BGM. If you roll three Ps-O-S together you'll likely end up with a bigger P-O-S. AIMO.