RE:RE:RE:RE:RE:RE:the only positivecrazytimes wrote: lol. Ok. By that math considering what has been spent on Magino construction to date, not to mention, discovery, drilling, etc. etc... what valuation do you think we should of gotten? lol. One would think considerably more than what has just been agreed to???? What is really pathetic is how $40 has to be spent on Magino, which is going to them? Who negotiated this???? lol. Ironically your callname is the best description of what that $10 mill is and the .0185 tiny fractional shares. I'll take that ugly dusty Picasso painting off your hands kid, and you can have this brand new shiny dime, ok kid, okgonow. lol. Just my opinion.
this is a little long winded but humor me!.
Lol ..... so imagine Magino is like a bare bones 54 Chevy sitting in a barn missing an engine but has a lot of potential to be a 6 figure hot rod when done properly and will win all the 1/4 mile drags so you can win the money back that you spent.You buy it and start spending lots of money fixing it up full restauration with mega motor fancy suspension etc.....during the restauration process the budget you set no longer matches the initial forecast but you are so far into it that stopping at this point makes no sense. You take out extra loans and keep going, then you realize you don't have the expertise to do the finishing touches like dial in the suspension tweak the motor etc. so you call up Young custom car builder and say please finish this for me. He says I'll get it over the line for you for a percentage of the winnings . He gets the build over the line Whoo hoo and you get ready to start with the drag races. But oh no the special fuel and overhead for each race just doubled in price and after the first race young has to replace the carb cause it broke .then you find out that the next bunch of races are track races and your car will work but has a hard time in the corners and won't win for a while until you can change out the suspension ( more money) all the different loans you have taken out need to be repaid and extra money is needed to re tweak the car but the loansharks want their money now. No one will give Young a loan to repay the other sharks. Young is going to loose it all
Along comes you neighbour who is a well known car racer who has been watching and says I'll pay of your loans pay for the upgrades to the car to make it competitive and I'll give you a percentage of the winnings of all the cars I race ( he has like 6 of them) and on top of that all the spare parts that you couldn't use I'll leave with you and invest a little money for you to build your own car.
take it or leave it what does Young do he takes the deal, because otherwise he would have lost it all
now all your friends are pissed they think you gave your car away for such a pittance and now they aren't going to be in for the full ride. Go to every 6th race the expensive car does but all the races your other car will race.
i say better to have a small part in every race of the neighbor and a bigger part of every race of the car your building than none!
oh Ya and I very day the prize pool goes up in value...crazy really
what I should mention is the initial build should have been able to be done on budget but before Young took over you mishandled the finances and didn't stick to the plan, also you gave yourself no room for unforeseen issues such as gas prices going up and repair and breakdowns. Why would anyone expect your neighbor the pro to pay extra for your mistakes especially if no one else is interested in buying.