Hi Gorilla,
an excellent post. One question, if I may?
When they did the reverse merger, the Chinese group Luckycharm only got 54% of Nordic Turbine's shares but delivered (as I understand it) 100% of today's assets and business operations; except for the financing guys who added $10 million and got their additional 12.5 million shares, and in addition the 6.4 million shares to Longboard, Southridge and co-investors for another $8 million, and lastly the convertibles providing another $1 million. (See the 8-K filed on July 24th as one of the many filings where the 54% shares ratio is strictly maintained throughout.)
So who kept the 46% shares in Nordic Turbine, Inc? And how does that relate to the remaining 7,686,207 shares of common stock of GCHT immediately prior to the exchange transaction on Oct. 30th? Who is holding these 7.7 million shares and what exactly did these people bring to the table? So far, I just cannot make any sense of this.
Is this of concern to us minority shareholders? Probably not, as the 7.7 million shares are included in the 61 million f/d share count which we knew about all along. However, should the 46% of shares of Nordic Turbine, Inc. still be in the picture as additional shares of GCHT, then the f/d count would possibly be substantially higher.
What gives? I find this puzzling.
