There will be nothing standing in the way of 20.00 pps because they can not dillute one single share per an agreement that was made with the Federal Reserve because of some debt ealier this year. The merger was the best fix to take care of the debt and get Socal or should we say Belvedere Capital Partners LLC or should we say PBB back on track. This merger was not about stock or the normal dillution game that most Pinkys play. It was about banks joining forces and it is HUGE. Notice part of the agreement below concerning Socal stock. The federal reserve does not play around. The merger was approved but no one from Socal can dump shares. My theory - probably the reason for the 1.00 ask. It is going back up faster than any other penny play I have seen. Just a matter of time before everyone connects the dots. I think some of the big boys have been loading shares this week because they understand all this stuff better than pinky land investors.
Debt and Stock Redemption
3. (a) Belvedere and any nonbank subsidiary shall not, directly or indirectly, incur, increase, or guarantee any debt without the prior written approval of the Reserve Bank. All requests for prior written approval shall contain, but not be limited to, a statement regarding the purpose of the debt, the terms of the debt, and the planned source(s) for debt repayment, and an analysis of the cash flow resources available to meet such debt repayment.
(b) SoCal shall not, directly or indirectly, purchase or redeem any shares of its stock without the prior written approval of the Reserve Bank.
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