Post by
sulphides63 on Mar 15, 2011 6:04pm
question
I could ask any poster who feels nagative about GBK'S 25% ownership. Where specifically does it state in 'THE AGREEMENT" that GBK is willing to be diluted? It does however state in "THE AGREEMENT" that JJ will pay for all costs and that GBK will repay their percentage amounts from existing cash flow. It also states that any amount left over after financing costs and paying back JJ will be distributed as per the 25% 75% "AGREEMENT". It does not state they will be diluted via preferred shares. If JJ were allowed to dilute them as they claim then "THE AGREEMENT" would state that implicitly. In fact, it states "IN THE AGREEMENT" that noone has the right to dilute ownership. I challenge anyone to find in "THE AGREEMENT" where it states GBK does not own 25% or that they will be allowed to be diluted. You can say whatever you want but if the words are not there they mean nothing. Some person on this board keeps talking about preferred shares and ownernship via the preferred. If that were the case then why would "THE AGREEMENT" state that GBK was entitled to 25% of the cash flow? Maybe finance is not your game, I know, lets have spelling contest.