GREY:LGLTF - Post by User
Comment by
nnneilioon Jun 11, 2015 5:37pm
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Post# 23822107
RE:Insider Transactions
RE:Insider Transactionskim2015 wrote:
Then the Company has so much cash they loaned the cash to a new joined director of Uhak in Korea?
The way I interpreted this, is that when they took over Uhak, they inherited that loan to a director of Uhak.
The loan from Ryu at 18% interest, to me is sketchy, but I think your timeline is a bit off. This loan happened sometime in 2014, while they raised money in March of 2015. They clearly were desperate for cash sometime in 2014 and Ryu with his monster salary came to the rescue.
The context underwhich they raised the money in March of 2015 was completely misrepresented in my mind. They did it under the guise of needing it for an acquisition but clearly it was to continue operations.