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jking1999

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jking1999

Re: stockasaurus rex post# 10373

Sunday, 09/30/2007 12:28:13 PM

Sunday, September 30, 2007 12:28:13 PM

Post# of 18151
stockasaurus rex: I think it's really quite simple:

The 200K was the initial payment in a legal contract to purchase 60% of Global Trucking. The fact that USXP did not continue to honor its payment requirements, and cannot continue to do so does not make that initial payment refundable.

She could have honored the rest of the contract by paying Gonzalez the 350K or so that RA was behind in paying him, as well as any remaining money owed for the 60% purchase. Forgetting the fact that USXP doesn't have that money to pay, if she did, USXP would wind up paying several hundred thousand dollars for a business that is breaking even at best.

How much would she have been able to sell that 60% ownership for?
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