GNCC Capital Inc (GNCP)

[Tgarfield2]

The BZA property was paid with shares of Kerr. The amount was .53 KERR shares for every BZA share giving the deal a value at $19,771,272 not 800 million. 39,615,251 KERR shares were issued since BZA had 74.7 million shares. BZA operated an actual mine and not some unexplored claims. KERR's current total market cap is only 32 million and not 800 million.

Your 800 million dollar guess is not found in any numbers of any kind anywhere.

There is no comparison anyway since GNCP has no mines or claims with proven resources. If it did then 19 million would not be enough to cover current preferred and other debt obligations.

Common GNCP shares would get zero under this deal.

Referenced under Note 24
https://doc.morningstar.com/Document/7e834deb2958d7ef0680994f727cbe2e.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395