Wednesday, April 08, 2009 10:27:04 AM
that reportedly wants to buy all the 200M+ shares of PGYC at .42 (plus .02 quarterly royalties)...
Why wouldn't they just contract with Nino De Santis themselves?
Why would they pay over $84M for PGYC? Why wouldn't Mr. De Santis sell it to them for less than that? Mr. De Santis is holding 49M shares of restricted PGYC stock, worth about $1.8M at present prices.
Why not just sell it to them directly. Mr. De Santis makes more, the unnamed foreign company pays less.
Win-Win.
Except for PGYC holders.
Regards
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