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Friday, November 16, 2007 3:47:54 PM
They work like a mafia, the fund the CEO's, lawyers, accountant. There are specific companies that are involved in this activity and thats all they do all the time. All other good companies completely stay away from these folks. The SEC came hard on them in the 80's and it was gone for a while and now its back doing great business. The deals are more personal than professional and legal. Basically, the CEO and the CD holders talk on a dinner tabel and agree that the CEO will see to it that the CD holders gets a huge returns. Most of the CEO's involved basically live their entire life doing this, create companies, issue debentures, convert, do a R/S, change company name and start all over again. You will see these companies changing their biz plans as per the market, one day doing oil biz and then bird flu, and then gold filed, etc etc.
Not sure if that helps.
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