As a holder of many EEGC shares, I would love someone to write a check before GSLM is 'wound up.' Hopefully, the company will find some way to dodge today's bullet.
I admit to not being optimistic on EEGC's ability to raise money, for example the $12M suddenly needed for the Sure financig and I am frustrated with the quality of the press releases and current management direction.
It is not at all clear to me how being a distributor of medical waste equipment in West Africa will help drill Bellevue; distribution is low margin, and I know from other business experiences that getting cash out of West Africa, even when you have a contract, is a slow and painstaking business.
Similarly, I do not believe that the issuance of EEGC-affiliated credit cards will lead to fame and glory.
As I have previously stated, IMO the only way we are going to determine if Bellevue has oil is to enter into a JV with another oil company -- and this JV is likely to cost 75%+ of the company (or gross margin -- I'm guessing the oil company will be equally uninterested in medical waste equipment and credit cards).
But maybe EEGC is entering into credit cards and medical waste equipment distribution so it has a 'raison d'etre' post GSLM. Don't know -- but do observe that those PRs came the same week as the Hunt request to wind-up GSLM -- filed in June, but not disclosed by EEGC -- was publicized.
AI
