InvestorsHub Logo

Guy

Followers 63
Posts 2553
Boards Moderated 1
Alias Born 05/17/2001

Guy

Member Level

Re: Potse post# 1652

Thursday, 12/24/2009 7:35:41 AM

Thursday, December 24, 2009 7:35:41 AM

Post# of 10805
Potse, SBAT - The mere fact that the CEO issued
to himself 4.7 million shares for 100k shares of
RHGP, should be enough reason to get out.
The RHGP shares are worth $65k now. 4.7 million shares
of SBAT for RHGP, assign a value of $0.014 per SBAT share.

I can go on about the other 15 million shares he gave
himself for nothing and the fact that they will need to
dilute further, but the first example is enough.

>>The original retail investors now have a 4-5% position in the new business, which in line with the kind of percentages you usually see in reverse merger types of situations.<<

Not exactly. After the issuance of the 19.7m shares, Viking owns 20.3m of the total 20.7m outstanding shares which is approx 98%, so the retail investors own 2%.

Good luck,
Guy




A QUITTER NEVER WINS AND A WINNER NEVER QUITS.

Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.