ELEM The shares of this concern have dropped considerably over tha past months and the drop has accelerated of late. At .58 now versus 1.65 a share a few m0onths back the payout in terms of cash to GIT may not be all that great. I am going to guess that PLUTUS- a private company has 100M class A shares on the book. The buyout agreement by ELEM states all PLUTUS shares will be bought out for 8M Elem shares total current value $4.64 Million. GIT owns 22M Plutus shares ( 22% ) and their cut would be $1.02 Million. GIT has valued these 22 million Plutus shares at 10c a share as the time based option agreement called for $2.2 Million or as many Plutus shares required to cover this amount. This is of course all speculation on my part but I do get that feeling that this might not turn out to be a smooth transition and that one party in particular might get handed the dirty end of the stick. I have not found a good reason as to why ELEM stock is this downward spiral.
Any comments will be appreciated
WBJ