Tuesday, April 06, 2010 8:53:14 AM
On this forum, Toth claims that he did not pay Bialy because Bialy represented to him that the wells were producing prior to the purchase. I did some DD and found that was untrue. In the purchase and sale agreement, Bialy represented that the wells were capable of producing and that GSRE would put up all of the money to get them producing. So it looks like Toth did whatever was necessary to tie up the property, flip it to a sub company for a huge paper profit, then lost it, never putting up a dime.
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