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Post# of 97094
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loanranger

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Re: Rootjim post# 42826

Sunday, 04/02/2017 10:05:06 AM

Sunday, April 02, 2017 10:05:06 AM

Post# of 97094
"So why sell out for 3 to 5 million dollars"

I think that's a good question.
IF...and we are not told this EXACTLY...an unnamed financier is going to get preferred shares that can be converted into over 75% more shares than are currently outstanding in 36 months (or less, per the filing) then that "sell out" language is exactly right and I'm not sure that that has been fully recognized here.

Basically control of the company would be changing hands for half of its current $8M market cap. And, as mentioned, that would be happening in the face of a $400-$700M recovery per the company's estimate.


Funny stuff.

I was given that information....I don't know.

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