Sorry for the delayed reply. GLEC shareholders own a portion of GECO and when the time comes we GLEC shareholders should be issue our portion of GECO shares based, in part, by how many shares of GLEC you own.
What percent of GECO is owned by GLEC shareholders? I don't know. My guess is less than 50% of GECO but I am not sure of the actual number and I don't think that will be disclosed, nor does it have to be since GECO is a "privately held" company. I know a lot of people have loaned or invested their personal money into growing and sustaining the Castleberry operation (GECO) and they will either get their money returned or possibly be able to convert said money into GECO shares when their notes come due. Depending on the amount of money privately invested into GECO, and once GECO becomes self-sustaining, the percentage due to GLEC shareholders will be calculated and eventually these shares will be delivered to GLEC shareholders. That answers your questions about how GECO's success affects GLEC shareholders and your other question about how the success of GECO will directly impact the share prices of GLEC.
And before the rookies and ignorant investors get their panties in a bunch you need to realize two things. 1. This is perfectly legal and happens hundreds, if not thousands of times a year with just about every listed company, especially larger companies like those on the S&P 500 2. Remember, many, many months ago I offered all of you the opportunity to invest directly into GECO and there were no takers on this message board. Fortunately, GECO has been able to find sufficient funding elsewhere to continue operations to this point and I think we will soon turn the very steep corner towards profitability at Castleberry. But know this, every dollar invested towards the success and operations of the GECO operation at Castleberry by private investors dilutes the amount of shares that will eventually be distributed to GLEC shareholders. You had your chance to get ahold of direct shares in GECO, in addition to the shares you will earn as a GLEC shareholder but you missed out.
GECO's success is directly related to GLEC's future shareprice, and to be honest, at this point it is the only thing that will affect GLEC's shareprice so you better start rooting for our success at Castleberry if you ever want to see your GLEC share price rise...Maddog out.
Do your homework - hope is NOT a strategy!
Maddog
