Pac;
I thought about things some more last night and here is a possible scenario.
I am very familiar with creating real estate deals as I have done this for 17 years now on the side from my main job as an IT professional.
The scenario that comes to mind is one in which an investor finds a good deal or has a piece of real estate with equity in it but due to whatever circumstances he cannot get financing. He proceeds to find someone (called a straw buyer) who can refinance the property, thus pulling equity out of the property to pursue more deals or just use the money for whatever. The deal is structured in that the title needs to be put in the straw buyer’s name, refinanced under his “good” credit and then at a later time, re-titled and/or refinanced under the original purchaser’s name. Technically speaking, banks will not lend under this situation and there are many ways investors will try to hide the fact they are doing this. The straw buyer get’s a percentage of the refinance (1% -10%) and the investor gets the rest. Obviously, you have to have trust in the straw buyer’s integrity to complete the deal and there are documents and agreements that are drawn up between the investor and straw buyer that are never recorded at the court house.
I think that something like this is going on right now with Mobile Pro and Gobility. I am not well versed in Corporate finance arrangements but Jay is, so I think he is pursuing something from a corporate perspective, completely legal of course - but outwardly confusing to us who are on the outside looking in - that would allow him to be able to pull money out of MOBL and possibly end up with a pure play Muni WIFI/WIMAX company. Jay has a lot at stake and MANY shares of MOBL that I don’t think he is going to just let slip through his fingers. Possibly a reverse merger/buyout of some sort is all part of this equation. I'm just not sure.
These are just pure speculations on my part but something for all to chew on.
AIMHO
J
AI
