Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

[ltesprit]

Hansen, that simply doesn't make sense: assuming the debt of a company with negative equity AND paying for shares. That just doesn't happen. Think of it this way: if someone asks you to assume the $350K mortgage on a $200K house, the only way you'd agree is if you think you can get a tenant who's rent payments, at a minimum, will cover the mortgage. Otherwise you're paying off someone else's problem. Adding a PAYMENT to the previous owner, now you're supposing Fan is not only willing to pay off someone else's problem, but pay that person for the priviledge of doing so...! You say Fan 'knew what shape the company was in.' That not only goes against every indication he's made to date, it goes against all financial logic and reason. Sorry, it doesn't float. I think you're getting fed bad info yourself.