Friday, May 22, 2015 8:52:43 PM
Just do the math with the info in the 10Q. You know he lent $250k, you know how much the O/S went up. Using only those numbers gives you a lower bound of $.0005. Now throw in the other CD lenders and possibly a mysterious lender in Various...and the lower bound goes up.
Hence, buying shares for cheaper than what he can in the CDs makes a TON of sense.
That's why he's probably buying on the open market.
As to why he doesn't do the 40% discount deal? Well, because he might exceed the 3 billion mark...further diluting his other shares and ownership.
Also, like LMLT said, he probably values his company's assets more than whatever 40% of .0005 would get him...a fraction of a penny.
Krombacher
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