Tuesday, December 22, 2009 3:20:09 PM
So he sells 51% of preferreds to Allie in exchange for cash and some common shares of GRBG.
There is your cash and shares combo.
What did you get...nada...why? Because that is what you own now and control right now. There is no cash for the commons hee and no shaes unless you count the Greenbridge Technologies shares you were to be dividended out - oh yeah, what happened to them - anyone have them yet? Some of the newbies don't even know about that great PR...
The RS comes next to increase the overall price of the shares. Hard to have people think you are a legitimate company when your PPS is sub-penny let alone sub - $10 or so.
Even after the RS Bill still has a huge whack of shares, as does his wife according to latest amended filing so even after RS they have lots of commons and some preferreds that are convertible into even more common. He will do well out of this.
Allie gets a cheap shell into which to merge his multi-level-marketing company and I do think that common shares will be issued at Platinum or Diamond Level etc to those who sell sell sell the product. Great way to bring in new distributors although few will ever see the shares.
May turn out different but this is how they accomplish the cash plus shares terms for control of the company. Everything to Bill and nothing to you other than a RS and then massive dilution to fund many more salaries.
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