CGrowth Capital Inc (CGRA)

[Tyrus603]

Spin spin spin

About 68 million CGRA shares worth close to $3 million in trading valuation have changed hands since Nov. 1, when CGRA broke hard to the upside over .03 cents. Shares have shifted from the impatient to the less impatient holders who have read between these lines:

$CGRA Official Twitter feed Oct. 31:
"We are still tracking to close a transaction. Initially set for month end, the company is working to file its quarterly early this week as part of the conditions to close that came up in DD. Otherwise, we are awaiting buyer instructions."

$CGRA Official Twitter feed Nov. 4:
"Financials posted - Due Diligence looking good! $CGRA"

$CGRA Official Twitter feed Nov. 11:
"Happy Veterans Day to our hero's!
The Company is set for a new chapter. Awaiting last bits to tie up.
Wishing all the best on this Remembrance Weekend! $CGRA"

My reading: The to-be-named buyer taking over CGRA and its assets has already given their detailed final "instructions" to Bill Wright and his legal/finance person(s). See reference to the "last bits to tie up."

The deal that was about to close at the end of October is now looking good for around Thanksgiving time.

Tick tock!

And unless you believe that Wright agreed to forgo 60M shares of his previously held stack of 107M (with the latest quarterly report showing that he did just that, "taking one for the team" by reducing his claim to 47M shares) just so he could accept $1.4M as his ceo "retirement package" (47M X .03 cents per share) then $CGRA at 3 cents per share is grossly undervalued heading for the buyout closing in the shortened Thanksgiving trading week.