Wednesday, June 13, 2007 3:58:20 PM
That .50 figure was given to us at the lunchen and only as an estimate. At the time we were .30-.40, but we were well above .50 when Barry started.
In the end the figure was told to me by barry as .40 to .50 of which a large part of that was warrants at a much higher price and not exerciseable for some time. All of this was in the value of a stock that had nothing. 9 wells that did not pump and 5 mil trading shares that were held by all friends that traded it back and forth to create a price. And that Barry and friends were to get 17% of the company. The whole deal was worth whatever our shares are worth, minus 17%.
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