Sunday, November 01, 2009 2:16:16 PM
The scenario presented by YJ was Neom will generate revenues and somehow REDEEM YA Global out of the picture... I don't see that happening I don't see YA Global leaving the party without their just do. They didn't fund Neom to get it this far only to walk away with principle/10% premium/ and interest. YA Global will do whatever necessary to realize a much bigger upside.
So here is my reasoning behind not buying above .02
1. I'm not greedy
2. Iain's contract
3. In the short term (buy-out potential before market acceptance) before Dec 10 - I feel the price would at most be 250mil. I also feel YA would max out the a/s bringing the o/s to 5 bil.
4. So 250mil /5bil = .05 cents
5. Until we receive some direction one way or another I will choose to remain under YA Globals fixed conversion rate of .02
because I believe its safe there.
6. We don't know what sort of monies Neom has received from anybody and should Neom be required to accept more funding from YA Global the pps would tank (again guidance is needed)
7. YA Global has many tricks embedded in the filings to muscle their way to THEIR DESIRED OUTCOME! and they haven't proven themselves as shareholder friendly TO DATE..
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