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Thursday, August 14, 2014 3:06:15 PM
If the requirements are not met, I am sure some negotiations will be held. If negotiations don't pan out and Chang pulls the license, I believe Carl will resign as CEO of VSPC and go "work" for Chang at VGREF and continue the GKG story(just like old times). Schewe would become Chairman/CEO of VSPC.
I don't know if Schewe would declare bankruptcy or not. When I look at the balance sheet, it shows $772,000 in current liabilities, which I don't know what they are for or how they would be treated in a reverse merged business. Bankruptcy is a possibility, but a remote possibility. I do believe he will reverse merge his miracle cream business into VSPC and change the ticker symbol. Then he will reverse split the shares (he may reverse split before changing the ticker symbol). Taking advantage of the shell's tax losses would be a benefit to his business.
If bankruptcy isn't declared Carl will be fine. Plus, Carl and Chang will have plenty of shares to sell and give each other in bonuses in VGREF shares.
It's hard to say. If bankruptcy is declared, the longs are screwed. I don't think bankruptcy will be on the table though. Schewe has "loaned" the company so much money, bankruptcy would wipe out his shares as well. The reverse split will be the potential killer though. Unless Schewe's miracle cream is profitable from the get-go, the share price will plummet post-reverse split. Carl will have time to dump some of his shares, though. In the long run, I think the longs stand to make a good chunk of money *IF* Schewe's miracle cream business works out. As of now, the only ones that will profit immediately will be Schewe and Carl, because they have discounted and/or free shares anyway.
Rule #1 is never lose money.
Rule #2 is never forget Rule #1.
My posts are my opinions only. Do you your own due diligence.
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