Jabs, Go through all of Galloway's press releases. You will discover that they have NEVER announced that they have actually EXERCISED the OPTION of the "First Right of Refusal". Unless the "First Right Of Refusal" is put into action by a type of contract, in exchange for money or barter (which is what Norex is doing by providing all the equipment for drilling etc) what good is it?
If a friend of mine, in an exclusive neighborhood, says she will give me the "first right of refusal" to purchase her house; This means that before she sells to someone else she will give me an opportunity to buy the house under the terms she is asking. I can then say "I have the "first right of refusal" for the beautiful 10,000 sq ft 5 BR 5 bath Tudor house situated on 4 landscaped acres located on Elm street in Beverly Hills, Calif." I can continue to talk about the fabulous house that I have the "first right of refusal" to and how it comes fully furnished. I can say I discovered that there are original Old Master paintings that are included and, if sold, they would pay for the house more than 10 times over...so this is a great value and I anticipate there is a great deal of profit to be made. Then I say that Christie's Auction house told me that they have a private buyer for the painting by Rembrandt, the one over the fireplace in the living room, and are willing to pay 100 million dollars. It can go on and on....the fact of the matter is I never exercised my rights to buy the house and the house is now rented to somebody else. So tell me what do I have? The answer is nothing and I think that that is what Galloway's piece of the action is NOTHING...because they have NEVER became part of the deal. IMO it is all smoke and mirrors and this is why we didn't hear anything for a month; either they never ever intended to exercise their option of "first right of refusal" or Norex replaced them...and yes this would all be against the SEC rules. The story is not over.
