The play here is .........
that it looks like a seriously mean poker game ....
right now Meruelo has called the game .... and its a minimum ante of $80,000 to sit at the table ...
someone calc'd a minimum of approximately 450,000 shares of MMPI are needed to guarantee you'll qualify on a prorata basis to put up the minimum $50,000 in the NE rights offering outlined in the Plan of Reorganization submitted by Richard Meruelo ......
so if you take 450,000 shares at 7 cents that'll cost you $31,000 and then you'll need to pay $50,000 in the rights offering to protect your equity position ... which then takes you to $80,000 ..... or the equivalent of 20 cents per share
you could otherwise take your chances, roll the dice, buy less than 450,000 shares of MMPI and hope your shares dont get cancelled as provided for in the POR ...
this Meruelo guy is just not a very nice poker player .....
