Post by
Blendedman on Jan 14, 2019 7:38pm
Very skeptical at this point
I too am hopeful this will turn into something, but I am highly skeptical. I am a rookie at this stuff, but it seems clear to me from the latest news that: - Inspiration acquires 100% of Silk - For price of $32,364,500 - Paid for by issuance of 161,822,500 post-consolidated common shares of Inspiration at a deemed price of $0.20 per share - Issued 35,000,000 shares to pay debt of $1,750,000 (or $0.05 per share) - Of above 35,000,000 shares, 12,000,000 shares given to insiders. Meanwhile, Silk: - Inspiration owes $5,000,000 to bring licence up to date - and appear obligated to proceed with a $10,000,000 US drilling program. so my point is, no cash is trading hands, and they just arbitrarily decided the deal was worth $32M. I mean, why not say the deal was worth $320M at $2.00 per share, since there is no money anywhere. oh, but we gave ourselves 12,000,000 shares
Comment by
Cdnxtracker on Jan 27, 2019 8:40am
Time will tell. This is no small deal and we are dealing with some very large investment funds here and the Norwegian government. Nothing shady about this deal at all in my opinion. They will raise the money they need quite easily. It's my hope that we will be up and trading as SILK Energy come May 1st. See you on the tape! CdnxTracker Follow me on Twitter @CdnxTracker
Comment by
Blendedman on Jan 29, 2019 3:03pm
Appreciate your encouragement Tracker!