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Outstanding read, Kezzek, I recommend it to all, whether it is applicable to Medinah or not is in the eye of the beholder. It further clarifies the opportunity some exploit to make money even as a company fails and the stock price falls through the floor.
I thought this line was particularly amusing, describing penny stock shares market makers: “a close-packed mass of creatures apparently human”
"men of integrity", eh? How many millions in unearned profits have JJ and Les stuffed in their pockets over the years as the market cap of this "company" decreased by 90% I wonder... I do now completely understand the infatuation with Les. Birds of a feather.
I would suggest a certain someone should perhaps use a different font when authoring something that isn't a baldfaced lie, otherwise there is no recourse but to completely discount 100% every word we see.
Thoughtful and relevant commentary, gman. I nominate as a "sticky".
It is telling how few have to courage to recognize this simple reality:
You may be correct, Kezzek. You've been consistent with this position, and it is certainly borne out by the scarce terms of which we are aware to date.
I just can't see the $100MM ever happening.
HR- FWIW, I don't have practical experience wrt fairness opinions, so this is all based on only my opinion.
I agree with your take on DeCosta's commentary (though NOT the underlying commentary), HR. A question, what the heck does "T/O" mean? Tender offer? Takeover?
As to DeCosta's comments, I think a far more realistic version would go something like this: "What most corporate attorneys WHO PREFER NOT TO BE IMMEDIATELY FIRED BY THEIR CLIENTS might recommend to their clients making a "private offer" for securities (like that of the Quijanos) is to be prepared to offer substantially less-favorable amounts to the other shareholders."
JJ's control block has leverage. Retail stockholders do not, as we do not have continuity of purpose nor control essentially a single block of stock. Minority interests are generally discounted for this and other valid reasons. This in another example of DeCosta, an intelligent hobbiest interested principally in Medinah and related matters, completely losing rational perspective (or, pun definitely intended, suffering a "disconnect" from reality) because he's lost any sense of rational skepticism with this company.
A scenario envisioning retail stockholders receiving more attractive terms than JJ's group defies common business sense. I know it sounds hopeful, but I wouldn't bank on it. The Lett family has substantial net worth for many reasons, one of which is they fully understand leverage.
Very astute question, Goldstrike. Beware, however, histrionics to follow...!!!
LOL Bubs, since you brought up "mental material", let's try to follow the bouncing ball: The implied purpose of any misstatement of share count would be to BOLSTER the "short" fantasy, not the converse. I didn't think I needed to explain as much, but there you go. Five shareholders in collusion could easily skew the count, given how many "house" shares were already accounted for.
Funny how SOME conspiracy theories are just SO outrageous to some, especially when in conflict with OTHER conspiracy theories. Equally amusing that anyone would spend hard earned money at a joke site like BuyIns, I guess...