Copper King Mining Corporation fka CPRKQ

[Johnny4profits]

How does anyone conclude that
without the cost and productivity potential
disclosures or specific terms of contract purchase?

any particular reason that this claim was not settled within the bankruptcy structure? it surely sounds like a lot of money if the claimant ended up with 5% of our new company.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=104305352

The deal is done and we are spending money for rehab as per the term sheet. It is a 50/50 joint venture and still working out the best way to actually structure the JV corporate entity (Corp, LLC etc) But Copper King will own half of whatever the accountants and lawyers decide works best.

Revenue should start coming in early next year, pretty much ready on issuing shares but trying to resolve (buy them) a couple of large unsecured claims, which if successfully purchased will make our already low float even lower. smile

On one unsecured claim in particular, the owner of it is set to end up with well over 5% of the new stock and could possibly negatively affect our NOL's if they chose to sell within 3 years, so we are trying to buy the claim before the stock trades.

It is not absolutely necessary to buy it, but would be a benefit to everyone if we could.

It would not be wise for me to comment any more on the possible claim purchases while negotiations are ongoing.