It appears from the limited info (PRs) we have, that the new team in employed by LTC. They are incentivized to make LTC succeed, not CTGI. They probably have already received shares of LTC . The funding (from Empire) is for LTC. Empire’s pay-back will come from an IPO of LTC, which will then be a partially owned (33%?) subsidiary of CTGI. LTC owes money to CTGI for loans & services previously provided by CTGI. As LTC pays back CTGI (from bridge loan), accountants & attorney’s can then be paid to file 10Ks for 2008 and 2009 and then move back onto the OTCBB.
After LTC’s IPO, their stock will trade independently from CTGI’s. Hopefully, the next PR will give us more insight on the bridge financing and timing of an IPO, but I would think Empire would want it to happen sooner than later.
