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Wednesday, August 15, 2018 11:13:42 AM
I can't help remembering the last sale they did with Jon Isaac, not arms lenght transaction, sold at a loss and even worse sold at credit with a note. Don'´t expect anything better here.
They probably have letters of interest only at this step anyways.
This is the early early step in a deal process.
Of course there is nothing binding
By no way is it a binding Letter Of Intent
By the way the offer they have is non binding, si it does not mean much
A bank would not loan money based on this
Some creditors asked to be paid back as I could read in 10K
What I see coming, if any cash comes in this company, is the conversion by insides of the prefs A shares convertible 100:1 in commons.
Insiders would have 86% of the commons.
So investors should look at this disvestment opportunitu on a fully diluted basis.
Folks, make those calculations and watch the SP plummet
This organization loses money and 62% of its assets is "air" intangible assets. After a sale, it will be close to 100% of intangible assets
Buyers beware, what will happen when the only revenue generating entity will be gone ? Only thing left will be money pit Geotraq
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