LOL laraz5...
Once again, incorrect on all points.
LGCY is not a defunct company. They had total revenue of $314,357,000 for 2016.
LGCY officers have also seen substantial reductions in compensation since the downturn in energy prices.
There are no promotions here and the company is not “selling the crap” out of their own stock.
The verifiable facts according to SEC documents, show little dilution.
As of February 2017 there were 72,625,147 units outstanding, compared to 72,055,697 Sept. 2016.
As far as Blackstone goes, you are also wrong.
NASDAQ: LGCY has secured a simple credit facility from NYSE: BX.
Its not debt until the company actually borrows it.
I think most people get that. Not sure why others have such a hard time with it.
Of the $300M available to Legacy from Blackstone in a credit facility, Legacy hasn't actually borrowed much.
If someone has a credit card with a $30,000 limit and they charge $6,000 to that card, in what world does that make them $30,000 in debt to the provider?
It doesn't. Its a dumb argument to even try to have.
Hope that clears up any confusion.
GLTU, IMO and FWIW.
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