It may be time to step back and assess how John Beebe's acquisition of a compliant shell may affect Perihelion Global shares.
First: John Beebe acquired a shell, not Perihelion Global. It was clear in the filing that the $45K acquisition cost came from private funds, not Perihelion Global funds. There is no guarantee that an agreement can be made that will be beneficial to PHGI shareholders on any potential sale of a shell from John Beebe to Perihelion Global. Please don't mix his personal assets with corporate assets. He personally owns a closed restaurant (been closed for over a year) that is carrying a $2.7 million mortgage. Is that a benefit to PHGI shareholders? (A side note regarding the SEC filings, it was noted that John Beebe owns FCC broadcasting licenses - I thought PHGI shareholders owned those licenses? Why wouldn't he tell the truth about the ownership of those licences? Or maybe he did?)
Second: Regarding any potential spinoff if an agreement can be made with John Beebe and PHGI for an acquisition of a shell: Currently ALL the Perihelion Global assets are in PHGI, and there are around 92 million common shares outstanding. It is very unlikely, based on company PR's, that ALL PHGI assets will move to a new shell, and since John Beebe already owns about ~30 million common shares just acquired, at best ownership will result in fewer assets to be owned and a 25% less ownership share in those assets. (Add 30 million to 90 million, you get 120 million, the 90 million are 25% diluted)
Third: Even if there is a future of moving some PHGI assets around, what does PHGI really own?
A couple of radio stations that had an acquisition cost of $180K (to John Beebe) that were sold to shareholders for $1.3 million (not a good deal for shareholders IMO)
A small mining permit that allows for removal of 4 tailings piles (not a lot of revenue in tailings piles IMO)
Some biofuel refinery equipment en route to Alabama without a permit to construct it by the Alabama Department of Environmental Management. (It's funny, IMO, that they could PR that they would be constructing it as soon as it arrived on site, when they knew they did not have a permit to construct it. When the Alabama Department of Environmental Management issues the public comment period that is part of the permit process - add at least a month before they are allowed to begin construction. To date, ADEM has not issued the public comment period. (How can you PR things are going to happen in a timeframe when you know that is not possible?)
I understand that a lot of speculation is out there that could lead to renewed optimism, bu take your time and understand what the realities are.
On hype alone, it would be easy to see some who were able to accumulate at .005 to get a quick double, or even triple, but as things settle and are further reported or understood, no value has been added - in fact quite the opposite.
For those who get to double up from .005, congratulations. For those looking for longer term, GLTY.
Regards.
