RE:RE:RE:RE:Well Bashers it sucks not to take this opportunity ! i don't think the funds (not even the 500k) need to be verified because they are not acquiring all the issued and outstanding shares of the company.
It all depends on what paragraph you are reading in what document. That is what makes this obvious scam so comical and amatuerish.
In the original press release they refered to it as a" take and pay agreement". The problem with that statement is a take a pay agreement is an agreement to purchase a given amount over a given amount of time of the company's products or services. If they fall short then the shortage will have a penalty payment applied which is proportional to the amount of the shortage. The is not a product and services agreement. It is supposed to be a capital asset purchase agreement. Also in that press release they state that the money will be transferred 90 after the T&P agreement is entered into. Since this company has neither a sellable product or service, that renders this agreement null and void before it even starts
the Company shall have entered into a take and pay agreement(s) in the form and on terms and conditions acceptable to the Purchaser
The closing of the purchase and sale of the Assets is expected to occur on or before the date that is 90 days from the date a take and pay agreement(s) is entered into by the Company in the form and on terms and conditions acceptable to the Purchaser.
Next they call this an asset purchase agreement. This is not a "take and Pay" nor is it a buyout of the company. It is now a flat out Capital Assets sales agreement.
it has signed a definitive arm's length purchase and sale agreement (the "Agreement") to sell 100% of its right, title and interest in its Record Ridge South, Midnight, and O.K. mineral properties
Now on the same day they filed another document to SEDAR in which they are now purchasing the company itself and not just an asset of the company
The Purchaser wishes to purchase and the Seller wishes to sell all of the Sale Shares on and subject to the terms and conditions of this Agreement.
1.1.47
"Sale Shares" means100% of the issued and outstanding shares in he capital of the Corporation; 2.3.1.1
share certificates representing the Sale Shares duly endorsed in blank for
transfer or accompanied by duly signed powers of attorney for transfer in blank
representing one hundred percent (100%) ownership interest of the then issued and
outstanding securities of the Corporation
So which farce suits your fancy? Take and Pay agreement? or a Capital Asset purchase?... or a company buyout?
Add into all that, that the so called legal team for Gryphon knows nothing of this transaction nor do they know who Gryphon is
Add to that the CEO of this $750 million juggernaut rents an apartment in a low-end clapboard building and has been previously charged with securities fraud
So in conclusion this is without a doubt a comedy routine, but it is not a one man stand-up routine. Your CEO is working hand in hand with him all the way. The only logical conclusion that one could draw from all this is that this is leading trailer for a 2017 remake of Dumb and Dumber