First thing that jumps out at me is the enormity of what is said to be happening... but I'll put that aside.
The second thing is the last paragraph... two parts. 1) "this group is not doing this for any reason but to make money" and 2) "the money will be in the future value of Phoenix common stock".
(Side note: I'm making the assumption here that what was said in the pr is true)
Lets say 1.1 is the amount that The GroupS require. 2/3rds of that would be 726,000,000 to be purchased
on the open market leaving 374,000,000 shares to be exchanged as payment when various targets are achieved via
aid from The GroupS.
The only way this "deal" could sensibly be done is if the parties agreed on what the market price for the open market
purchase would be.... which would be established, of course, by the 2 (3) entities coordinating their buying and selling. The
question then is, if Phoenix expects to get $X from the deal and The GroupS expect to put in $X... why would you not
do all of this via private placement rather than deal with the unknowns of the market?
"and the money will be in the future value of Phoenix common stock." What do both parties gain (and maybe those of us pig headed enough to keep holding) by doing this on the open market?
Interestinger and interestinger. Care for a cup of tea, anyone?
--q
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Speak softly and carry a big schtick.
