PROBABLY ONE OF THE BEST moves this company could make. But do not expect instant riches. It will take time and also much is going to happen in the general market over the next months.
First let me say that my son is one of the top corporate lawyers in London and the UK. Though young, he is the legal director of a large international health company. I asked him about 'St James' and he said that it is a smallish but 'clean' company. Nothing 'unsavoury' is known of Bazzano who is also a youngish man (39).
I have more info which I will pass in other posts. Too much at once is overkill.
Why do I say it is one of the best moves? Because the Financial sector is a great one to be in. There is great growth potential in this fledgling area of 'prepaid debit and credit cards'. The US is the most advanced so far in this business (though it is spreading world wide) and confines its own companies, due to the Patriot Act, to its nationals and those with established USA addresses.
The new company acquired will probably be introduced as an ADR (American Depository Receipt) and will be on the OTC. (JMHO)
There will probably also be something in the share exchange/distribution which will reduce the number of shares held by GWGO holders. The danger here is that if this increases the actual price of the share in the new company(this will not be
an increased value to current holders in real terms) that it will be seen as an opportunity for short sellers to enter the market.
I think naked shorting is seeing the end of its 'happy days' as
it is getting a lot of serious attention recently sending a strong message. However, nothing changes overnight.
This sort of business is more in keeping with the main company -
St James Capital Holdings which owns St James Resource Management. Bezzano has had a lot of experience in acquisitions.
It appears, so far, the company has serious ambitions and wants to be focused in what it does best(hence divesting itself of its PM holdings) at the same time concentrating on an area it knows and fits in with its core business.
Bazzano has had no part in GWGO's past business activities, including acquisitions.
So, we have to forget its past, and look with hope to the future.
The King is dead, long live the King (as we Brits say)
Fingers crossed.
