Zargon Oil & Gas Ltd ZARFF

ZAR: Insiders own 10% with the CEO owning 2.4 million shares

[stockfy]

According to the latest MIF filed on Sedar, Craig Hansen owns 2.4 million shares, not 1.5 million shares I wrote in my previous post. Also:

"As at April 19, 2018, our directors and executive officers as a group, beneficially owned, or controlled or directed, directly or indirectly, 3,112,274 common shares or approximately 10% of our issued and outstanding common shares."


Nevertheless a couple of short-sighted debenture holders/posters here ignore this key fact. They also ignore the reasons of ZAR's recent drop and erroneously think that ZAR's stock can keep falling reaching 1-2 cents in Dec 2019, which will allow them to have to take almost 100% of ZAR. 

However, the insiders including the CEO who controls the game and ZAR's fortunes  have strong motivation to push ZAR's stock much higher than 10 cents, so the debenture holders will receive MUCH LESS shares in December 2019 when they convert at 95% of the then price of the common stock if they don't accept the current offer for conversion at 10 cents.


With ZAR at 15 cents in December 2019, the debenture holders will receive much less shares than what they receive now at 10 cents.

With ZAR at 20 cents in December 2019, the debenture holders will receive even less shares when they convert....

Simple math.