GREY:SCNWF - Post by User
Comment by
Shoeon Jan 16, 2005 2:27pm
117 Views
Post# 8438569
RE: Do the math and weep
RE: Do the math and weepFriend Distanza!
If I read the PR correctly the issuance of 3mil shares to the lender is for security of the loan. In other words they have to be issued or they would not be collateral. The only way the lender would see these shares is if the co was to default on the loan aggreement. I simply cannot see this happening. All they recieved to date would be the 175,000 free trading and 12% which is closer to 30% given the rising share price.
The 1.1 mil issue is self explanatory for anyone that has followed the co. over the years.
The other tranch of 3mil I would suspect is for a PR firm if I read btw the lines correctly. I would suspect these would be subject to a (performance criteria) for lack of correct terminology. Perhaps 1mil today and the latter over a span of time concurrent with any such aggreement. Of course speculation on my part!
So really the dilution is closer to 3 - 3.5mil in todays terms. Does this seem as plausible to you as me?
The remaining 1.1 well one can speculate as to the where an why's. I know Whiteguy likes to speculate from time to time but has recently succumbed to a rising bottom.
A snow covered western
Shoe