Soso,
I know that the summit people are there and they appear to be honorable. I was told directly by Ben that they were brought in by the funders, though he would not say who the funders are.
So for now, we have to let it play out.
It was mentioned, I beleive by Tbird that the whole company can be bought for 12 mil, why would anyone want to pay 100 mil for 51%. I am afraid that is not accurate.
The way I believe it is going to happen, and this is only my take on it. I stress that I have no inside knowledge of this.
The funders take a stake in the company by purchasing a large block of stock that is already waiting for them when ready.
Say, 80 mil. shares at a set price. At approx 230 mil outstanding they need slightly over 115 mil for 51%. They then go into the market and buy the needed 35 mil shares, driving the price up to .50 or better for starters. They then loan the company 100 mil over time to buy assets and improve profitability. And remember why not fund it, they have summit running it and they have control. They also have 115 mil. shares that are now worth 200+ mil. The 100 mil is a note payable to them and they have 200 mil to leverage for other deals. If they conclude that nothing will deter thier success, it should happen and be great for us.
But remember, there are no sure things.
Lou
AI
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